-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Mq5HTUTBnMyKq0weIyILsHlLAhowi+iVGqrcnfm4TJCAtHsahYlDMOfq/0a7FXYN
 9he3w0mPCjMgHmKS5mHoWA==

<SEC-DOCUMENT>0001213900-10-000451.txt : 20100208
<SEC-HEADER>0001213900-10-000451.hdr.sgml : 20100208
<ACCEPTANCE-DATETIME>20100208162331
ACCESSION NUMBER:		0001213900-10-000451
CONFORMED SUBMISSION TYPE:	S-1/A
PUBLIC DOCUMENT COUNT:		11
FILED AS OF DATE:		20100208
DATE AS OF CHANGE:		20100208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Celsius Holdings, Inc.
		CENTRAL INDEX KEY:			0001341766
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				202745790
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-163207
		FILM NUMBER:		10581210

	BUSINESS ADDRESS:	
		STREET 1:		140 NE 4TH AVENUE, SUITE C
		CITY:			DELRAY BEACH
		STATE:			FL
		ZIP:			33483
		BUSINESS PHONE:		561-276-2239

	MAIL ADDRESS:	
		STREET 1:		140 NE 4TH AVENUE, SUITE C
		CITY:			DELRAY BEACH
		STATE:			FL
		ZIP:			33483

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VECTOR VENTURES CORP.
		DATE OF NAME CHANGE:	20051018
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-1/A
<SEQUENCE>1
<FILENAME>fs1a2_celsius.htm
<DESCRIPTION>AMENDED REGISTRATION STATEMENT
<TEXT>
<html>
<head>
    <title>fs1a2_celsius.htm</title>
<!-- Licensed to: <TP> Electronic Filing Services Corp.-->
<!-- Document Created using EDGARizerAgent 5.1.5.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 7%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7%; FONT-FAMILY: Times New Roman">
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Registration
No. 333-163207</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As
filed with the Securities and Exchange Commission on February 8 , 2010</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">UNITED
STATES SECURITIES AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Washington,
DC 20549</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">________________________________________</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">AMENDMENT
NO. 2 </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">TO</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">FORM
S-1</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;________________________________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Exact
name of registrant as specified in its charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="top" width="28%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nevada</font></div>
            </td>
            <td valign="top" width="28%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2086</font></div>
            </td>
            <td valign="top" width="28%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20-2745790</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="28%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(State
      of incorporation)</font></div>
            </td>
            <td valign="top" width="28%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Primary
      Standard Classification Code)</font></div>
            </td>
            <td valign="top" width="28%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(IRS
      Employer Identification No.)</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="top" width="43%">
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">140
      NE 4<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font>
      Avenue, Suite C</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Delray
      Beach, FL 33483</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(561)
      276-2239</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Address,
      including zip code, and telephone number, including area code, of
      registrant&#8217;s principal executive offices)</font></div>
            </td>
            <td valign="top" width="43%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Geary
      W. Cotton, CFO</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">140
      NE 4<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font>
      Avenue, Suite C</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Delray
      Beach, FL 33483</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(561)
      276-2239</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Name,
      address, including zip code, and telephone number, including area code, of
      agent for service)</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Copies of
communications to:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="top" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">David
      Alan Miller, Esq.</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="top" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dale
      S. Bergman, Esq.</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Brian
      Ross, Esq.</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="top" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Arnstein
      &amp; Lehr LLP</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Graubard
      Miller</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="top" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">200
      East Las Olas Boulevard</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Chrysler Building</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="top" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Suite
      1700</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">405
      Lexington Avenue</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="top" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fort
      Lauderdale, Florida 33301-2299</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">New
      York, NY 10174</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="top" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Telephone:
      (954) 713-7628</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Telephone:
      (212) 818-8610</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="top" width="44%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Facsimile:
      (954) 713-7738</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Facsimile:
      (888) 225-1564</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Approximate
date of commencement of proposed sale to the public: As soon as practicable
after this Registration Statement becomes effective.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If any of
the securities being registered on this Form are to be offered on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933, check
the following box. |X|</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If this
Form is filed to register additional securities for an offering pursuant to Rule
462(b) under the Securities Act of 1933, please check the following box and list
the Securities Act registration Statement number of the earlier effective
registration statement for the same offering. |_|</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If this
Form is a post-effective amendment filed pursuant to Rule 462(c) under the
Securities Act of 1933, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering.|_|</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If this
Form is a post-effective amendment filed pursuant to Rule 462(d) under the
Securities Act, check the following box and list the Securities Act registration
number of the earlier effective registration statement for the same offering.
..|_|</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Indicate
by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting
company.&#160;&#160;See the definitions of &#8220;large accelerated filer,&#8221;
&#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the
Exchange Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="23%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Large
      accelerated filer&#160;&#160;&#160; &#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font><font id="TAB1" style="MARGIN-LEFT: 12pt"></font></font></div>
                </td>
                <td align="left" valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: wingdings"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accelerated
      filer</font></font></td>
                <td align="left" valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: wingdings"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
                <td align="left" valign="top" width="31%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-accelerated
      filer</font></font>&#160;&#160; &#160; <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: wingdings">&#168;</font></td>
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Smaller
      reporting company&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline;" face="Wingdings">x</font></font></td>
              </tr><tr>
                <td align="left" valign="top" width="23%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></div>
                </td>
                <td valign="top" width="12%">
                </td>
                <td valign="top" width="10%">&#160;</td>
                <td valign="top" width="31%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Do
      not check if a smaller reporting company)</font></td>
                <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div><!--EFPlaceholder-->

      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">The Registrant hereby amends this
Registration Statement on such date or dates as may be necessary to delay its
effective date until the Registrant shall file a further amendment which
specifically states that this Registration Statement shall thereafter become
effective in accordance with Section 8(a) of the Securities Act of 1933 or until
this Registration Statement shall become effective on such date as the
Commission, acting pursuant to said Section 8(a), may
determine.</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
information contained in this prospectus is not complete and may be changed.
These securities may not be sold until the registration statement filed with the
Securities and Exchange Commission is declared effective. This prospectus is not
an offer to sell these securities and it is not soliciting an offer to buy these
securities in any state where the offer or sale is not permitted.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SUBJECT
TO COMPLETION, DATED FEBRUARY 8 , 2010</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Preliminary
Prospectus</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><img src="celsiuslogo.gif" alt=""></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">900,000
Units</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Each
Unit Consisting of</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Four
Shares of Common Stock and</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">One
Warrant to Purchase One Share of Common Stock</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
offering 900,000 units, each of which consists of four shares of our common
stock, par value $.001 per share, and one warrant to purchase one share of our common stock at an exercise price per
share equal to 33% of the public offering price per unit, during the three-year
period commencing on the date of this prospectus. The common stock and the
warrants are transferable separately immediately
upon issuance.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
common stock is traded on the over-the-counter Bulletin Board (OTC Bulletin
Board) market under the symbol &#8220;CSUH.&#8221;&#160;&#160;The last reported sales price
of our common stock on the OTC Bulletin Board on February
5, 2010 , was $4.50 per share.&#160;&#160;Upon
consummation of this offering, our common stock and warrants will be separately
listed on the Nasdaq Capital Market under the symbols &#8220;CELH&#8221; and &#8220;CELHW,&#8221;
respectively. The units will not publicly trade.</font></div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Investing
in our securities involves significant risks which are described in the section
captioned &#8220;Risk Factors&#8221; beginning on page 8 of this prospectus.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <div align="left">
            <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" style="TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Per
      Unit</font></div>
                  </td>
                  <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" style="TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                  </td>
                  <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Public
      offering price</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;</td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;</td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Underwriting
      discount (1)</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;</td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;</td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="76%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      to us, before expenses</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;</td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;</td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr></table>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">________________________________</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td style="WIDTH: 27pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></div>
                </td>
                <td style="TEXT-ALIGN: justify">
                  <div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      underwriting discount will be 7% of the public offering price per unit.
      Does not reflect additional compensation to the underwriters in the form
      of an option to purchase 18,000 units.&#160;&#160;See
      &#8220;Underwriting.&#8221;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
underwriters have an option to purchase up to 135,000 additional units (an
amount equal to up to 15% of the units sold in the offering) from us to cover
over-allotments within 45 days of the date of this prospectus.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Neither
the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus is
truthful or complete. Any representation to the contrary is a criminal
offense.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">
          <div>
            <hr style="COLOR: black" align="center" noshade size="1" width="15%">
          </div>
        </div>
        <div>&#160;</div>
        <div align="center">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td width="50%"><font size="5" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">Ladenburg&#160;Thalmann&#160;&amp;&#160;Co.&#160;Inc.</font></font></td>
                <td width="50%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font size="5" style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;Maxim Group
      LLC</font></font></td>
              </tr><tr>
                <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Sole Bookrunning
      Manager</font></font></td>
                <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
        <div>&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">The Date of this Prospectus
is</font>: <font style="DISPLAY: inline; FONT-WEIGHT: bold">____________,
2010</font></font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: center"><img src="fs1nov09img1_celsius.gif" alt=""></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius&#174;
and MetaPlus&#174; are registered trademarks of Celsius Holdings,
Inc.&#160;&#160;This prospectus also contains trademarks held by other
companies.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Claims
about our Celsius&#174; beverage products have not been evaluated by the U.S. Food
and Drug Administration.&#160;&#160;Our products are not intended to diagnose,
treat, cure or prevent any disease.</font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="table">TABLE OF CONTENTS</a></font></div>
    </div>
    <div>&#160;</div>
    <div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td align="left" valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Page</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#psummy">PROSPECTUS SUMMARY</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#off">THE OFFERING</a></font> </div>
              </td>
              <td align="right" valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;6</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#finin4">SUMMARY FINANCIAL INFORMATION</a></font> </div>
              </td>
              <td align="right" valign="bottom" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;8</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#risk">RISK FACTORS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#4ward">FORWARD-LOOKING STATEMENTS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#dilut">DILUTION</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#proceed">USE OF PROCEEDS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#cap">CAPITALIZATION</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#selec">SELECTED CONSOLIDATED FINANCIAL DATA</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#biz">BUSINESS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#mda">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
      AND RESULTS OF OPERATIONS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#manage">MANAGEMENT</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#excomp">EXECUTIVE COMPENSATION</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">37</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#princpal">PRINCIPAL SHAREHOLDERS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#certain">CERTAIN RELATIONSHIPS AND RELATED
      TRANSACTIONS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#desofsec">DESCRIPTION OF SECURITIES</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">43</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#markte">MARKET FOR COMMON EQUITY AND RELATED SHAREHOLDER
      MATTERS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#underwriting">UNDERWRITING</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#5yrs">ORGANIZATION WITHIN THE LAST FIVE YEARS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#legal">LEGAL MATTERS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#experts">EXPERTS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#disclosure">DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION
      FOR SECURITIES ACT LIABILITIES</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#changesin">CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANT ON
      ACCOUNTING AND FINANCIAL DISCLOSURE</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#avail">ADDITIONAL INFORMATION</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#index">FINANCIAL STATEMENTS</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-1</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><a href="#report">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
      FIRM</a></font></div>
              </td>
              <td align="right" valign="bottom" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-22</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="middle" width="7%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
website is at <font color="blue" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">www.celsius.com</font>.&#160;&#160;We have not incorporated by
reference into this prospectus the information on our website and you should not
consider it to be a part of this document.&#160;&#160;Our website address is
included as a textual reference only.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>You should rely only on the information
contained in this prospectus. We have not authorized anyone to provide you with
information different from that contained in this prospectus. Under no
circumstances should the delivery to you of this prospectus or any sale made
pursuant to this prospectus create any implication that the information
contained in this prospectus is correct as of any time after the date of this
prospectus.</font></div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">[This
page intentionally left blank]</font> </div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">PR<a name="psummy">OSPECTUS</a></font>
SUMMARY</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The
following summary highlights selected information contained elsewhere in this
prospectus. This summary does not contain all the information you should
consider before investing in our common stock. Before making an investment
decision, you should read the entire prospectus carefully, including the &#8220;Risk
Factors&#8221; section, the consolidated financial statements and the related notes.
As used throughout this prospectus, the terms &#8220;we,&#8221; &#8220;us,&#8221; &#8221;our&#8221; and &#8220;our
company&#8221; refer to Celsius Holdings, Inc., and all of its subsidiaries. Unless
otherwise noted, all share and per share data in this prospectus gives effect to
the 1-for-20 reverse stock split of our common stock implemented on December 23,
2009, which converted each block of 20 shares of the common stock issued and
outstanding as of the close of business on December 23, 2009 into one share of
common stock.&#160;&#160;For more information about our reverse stock split, see
&#8220;&#8212; Reverse Stock Split&#8221; below.&#160;&#160;Unless
otherwise noted, all share and per share data is also adjusted for the
conversion of our Series B preferred stock into common stock on December 23,
2009.&#160;&#160;See &#8220;&#8212;C onversion of Series B
Preferred Stock&#8221; below.</font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">About
Our Company</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We are
engaged in the development, marketing, sale and distribution of &#8220;functional&#8221;
calorie-burning beverages under the Celsius&#174; brand name. According to multiple
clinical studies we have had performed for us, a single serving (12 ounce can)
of Celsius&#174; burns up to 100 calories by increasing a consumer&#8217;s metabolism an
average of 12% and providing sustained energy for up to a three-hour
period.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We seek
to combine nutritional science with mainstream beverages by using our
proprietary thermogenic (calorie-burning) MetaPlus&#174; formulation, while fostering
the goal of healthier everyday refreshment by making our
products as natural as possible without the artificial preservatives,
colors and flavors as found in many energy drinks or sodas. Celsius&#174; has no
artificial preservatives, aspartame or high fructose corn syrup and is very low
in sodium. Celsius&#174; includes good-for-you ingredients and supplements such as
green tea (EGCG), ginger, calcium, chromium, B vitamins and vitamin C. Celsius
is sweetened with sucralose, a sugar-derived sweetener that is found in
Splenda&#174;, which makes our beverages low-calorie and suitable for consumers whose
sugar intake is restricted.</font></div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We
currently offer Celsius in seven flavors, lemon-lime, ginger ale, cola, orange
and wild berry (which are carbonated) and non-carbonated green tea
raspberry-acai and green tea peach-mango. Our beverages are sold in 12 ounce
cans, although we have recently begun to market the active ingredients in
powdered form in individual On-The-Go packets.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We have
undertaken significant marketing efforts aimed at building brand awareness,
including a recently launched nationwide marketing campaign focused on
television, radio, on-line and magazine advertising.&#160;&#160;We intend to
launch an on-line campaign with viral marketing, as soon as our testing phase is
completed.&#160;&#160;We also undertake various promotions at the retail level
such as coupons and other discounts.&#160;&#160;We have recently engaged Mario
Lopez to be our national celebrity spokesperson.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
past, we mainly sold and distributed our products through our network of
independent direct-to-store (DSD) distributors. We now
focus to a larger extent on national and
regional retail accounts through a direct-to-retail (DTR) marketing
strategy.</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our DSD distributor network is
primarily concentrated in Florida, Atlanta, Michigan, New England, Ohio and
Texas. Through our DSD distributor network, Celsius&#174; is now available in various major retail chains, including
Hannafords, Shaw&#8217;s, Tedeschi, Wegmans and Xtra Mart (Northeast), CVS (New
England), Sweetbay (Florida) and HEB (Texas).</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our DTR marketing strategy focuses on
sales made directly or with the assistance of brokers to national and regional
supermarkets, convenience stores, drug stores, nutrition stores, mass merchants
and club warehouses. As of the date of this prospectus, we have DTR
relationships with and are rolling out Celsius&#174; products into Vitamin Shoppe,
GNC, Supervalu, Duane Reade, Albertsons, Rite-Aid and 7-11 stores, among
others.&#160;&#160;We made a test shipment in December 2009 to 2 85 Costco stores, and if successful, we plan to make a
full launch into all 404 of their stores in the United States and Puerto Rico in March
2010.&#160;&#160;We also have recently commenced
shipping to Walgreen&#8217;s and CVS on a national basis, covering approximately
14,000 stores in total.&#160;&#160;Other retailers who became DTR customers
during the fourth quarter of 2009 include Giant, Stop &amp; Shop, Shoprite and
Winn Dixie.&#160;&#160;The DTR channel, which we believe affords us broader
geographic distribution and increased brand awareness, has contributed to an
increasing percentage of our sales growth and is expected to be the primary
channel for our future sales growth.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We do not
directly manufacture our beverages, but instead outsource the manufacturing
process to established third-party co-packers. We do, however, generally provide
our co-packers with flavors, ingredient blends, cans, packaging and other raw
materials for our beverages.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
growth strategy is to increase our share of the functional beverage market
by:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">increasing
      brand awareness and emphasizing our combination of nutritional science and
      healthier refreshment through print, broadcast, billboard and online
      marketing;:</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">expanding
      sales and marketing efforts with a view to increasing the geographic
      markets in which Celsius&#174; is available, particularly through additional
      penetration of the DTR sales
channel;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">extending
      our functional beverage product line to offer additional flavors of
      Celsius&#174;;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">exploiting
      our MetaPlus&#174; thermogenic formulation to develop, market, sell and
      distribute complementary products;
and</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">seeking
      to expand distribution of our products internationally either directly or
      through licensing agreements with third
parties.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We were
incorporated in Nevada on April 26, 2005.&#160;&#160;On January 26, 2007, we
acquired the Celsius&#174; beverage business of Elite FX, Inc., a Florida corporation
engaged in the development of functional beverages since 2004, and subsequently
changed our name to Celsius Holdings, Inc.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
principal executive offices are located at 140 N.E. 4<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font>
Avenue, Delray Beach, Florida 33483.&#160;&#160;Our telephone number is (561)
276-2239 and our website is www.celsius.com.&#160;&#160;The information
accessible through our website does not constitute part of this
prospectus.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reverse
Stock Split</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On
December 23, 2009, we implemented a reverse stock split in which of all the
issued and outstanding shares of our common stock as of the close of business on
such date were combined and reconstituted as a smaller number of shares of
common stock in a ratio of one share of common stock for every 20 shares of
common stock.&#160;&#160;We rounded up any fractional shares of new common stock
issuable in connection with the reverse stock split.&#160;&#160;Our authorized
shares of capital were reduced proportionately from 1,000,000,000 to 50,000,000
shares of common stock and from 50,000,000 to 2,500,000 shares of preferred
stock.&#160;&#160;Unless otherwise noted, all share and per share data in this
prospectus is adjusted to give effect to the reverse stock
split.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Conversion
of Series B Preferred Stock</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effective
on December 23, 2009, CDS Ventures of South Florida, LLC, our principal
shareholder, converted all the outstanding shares of our Series B preferred
stock (including shares issuable in payment of accrued dividends) into common
stock. Based on the conversion price of $1.00 in effect on the conversion date,
4,343,000 shares of our common stock were issued.&#160;&#160;Unless otherwise
noted, all share and per share data in this prospectus is adjusted to give
effect to the conversion of our Series B preferred stock into common
stock.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">THE
<a name="off">OFFERING</a></font> </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="33%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Units
      Offered</font></div>
                </td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">900,000
      Units, each comprised of four shares of common stock and one
      warrant</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="33%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      stock:</font></div>
                </td>
                <td valign="top" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="top" width="33%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      stock outstanding (as of February 5 ,
      2010)</font></div>
                </td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,029,519</font>
      shares</div>
                  </div>
                </td>
              </tr><tr>
                <td valign="top" width="33%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="top" width="33%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      stock included in units</font></div>
                </td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,600,000
      shares</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="top" width="33%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="top" width="33%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      stock issuable upon exercise of warrants included in units</font></div>
                </td>
                <td align="left" valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">900,000
      shares</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="top" width="28%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      stock to be outstanding </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">after
      this offering</font></div>
                </td>
                <td align="left" valign="top" width="56%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,629,519</font>
      shares</div>
                  </div>
                </td>
              </tr><tr>
                <td align="left" valign="top" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="56%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="top" width="28%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrants:</font> </td>
                <td valign="top" width="56%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="top" width="28%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="56%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="top" width="28%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrants
      included in units</font></div>
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                </td>
                <td valign="top" width="56%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">900,000</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="28%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrant
      exercise price and term</font></div>
                </td>
                <td valign="top" width="56%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Each
      warrant entitles the holder to purchase one share of common stock at an
      exercise price equal to 33% of the public offering price per unit, during
      the three year period commencing on the date of this
      prospectus.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="33%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Use
      of proceeds</font></div>
                </td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assuming
      a public offering price of $ 17.00 per unit and
      no exercise of the underwriters' over-allotment option, we will receive
      net proceeds of approximately $ 13.8 million
      from our sale of units in this offering, after deducting underwriting
      discounts and estimated offering expenses payable by us. We intend to use
      these proceeds as follows: (i) approximately $9,000,000 for 2010 marketing
      efforts; (ii) approximately $500,000 for new product development; and
      (iii) the remaining proceeds of approximately $ 4,300,000 for general corporate purposes, including
      working capital. Any proceeds obtained upon exercise
      of the over-allotment option will be used to prepay a portion of the
      convertible note outstanding to CDS Ventures of South Florida, LLC. Any
      proceeds from the exercise of warrants will be used for working
      capital. </font></font></div>
                  </div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="33%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dividend
      policy</font></div>
                </td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We
      do not anticipate paying cash dividends on our common stock for the
      foreseeable future.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="33%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Risk
      factors</font></div>
                </td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">You
      should read the section captioned &#8220;Risk Factors&#8221; for a discussion of
      factors you should consider carefully before deciding whether to purchase
      shares of our common stock.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="33%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Trading</font></div>
                </td>
                <td valign="top" width="67%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
      common stock is currently traded the OTC Bulletin Board under the symbol
      &#8220;CSUH.&#8221; Upon completion of this offering, our common stock and warrants
      will be listed on the Nasdaq Capital Market under the symbols &#8220;CELH&#8221; and
      &#8220;CELHW&#8221;, respectively.</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
information above regarding the number of shares of common stock offered and the
number of shares of common stock to be outstanding after this offering does not
include:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="77%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> 1,179,201 shares of common stock issuable upon the
      exercise of outstanding stock
options;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="77%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">403,750
      shares of common stock issuable upon the exercise of outstanding
      warrants;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="77%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> 792,599 &#160;shares of common stock available for
      issuance upon conversion of our outstanding convertible promissory
      notes;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="77%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,063,125
      shares of common stock available for issuance upon conversion of our
      issued and outstanding Series A preferred stock;</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="77%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="77%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">900,000
      shares of common stock issuable upon the exercise of the warrants included
      in the units;</font></div>
                </td>
              </tr><tr>
                <td valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="77%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font> </div>
                </td>
                <td valign="top" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="top" width="77%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">72,000
      shares of common stock issuable upon exercise of the underwriters' unit
      purchase option, or the 18,000 shares underlying the warrants included
      therein; or</font> </div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">
          <div>
          </div><br></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="3%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="77%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">exercise
      of the underwriters' over-allotment
option.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SUMMARY
FINAN<a name="finin4">CIAL </a>INFORMATION</font> </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
following summary financial information is derived from our consolidated
financial statements, together with adjusted information which reflects the
receipt of the net proceeds from this offering.&#160;&#160;This summary
financial information should be read in conjunction with our consolidated
financial statements and the related notes included elsewhere in this
prospectus.</font></div>
      <div>&#160;</div>
      <div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">Statements
      of operations:</font> </div>
                </td>
                <td colspan="7" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      Year Ended</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="7" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      the Nine Months Ended</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td colspan="7" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="7" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></font></td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></font></td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Unaudited)</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Unaudited)</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 23.95pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenue</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,589,887</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,644,780</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,480,475</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,968,975</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Operating Expenses</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,676,695</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,155,197</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,723,130</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,232,572</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      Loss</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,261,600</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,725,841</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,335,829</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,942,488</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">Balance
      sheet:</font> </div>
                </td>
                <td colspan="7" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As
      of December 31,</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="7" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">As
      of September 30,</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font></td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2008</font></font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font></td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2007</font></font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font></td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2009</font></font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font></td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2009 (1) </font></font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">&#160;</td>
              </tr><tr bgcolor="white">
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Unaudited)</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Unaudited)</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash&#160;</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,040,633</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">257,482</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">647,598</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14,476,598</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Assets&#160;</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,202,769</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,533,130</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,251,675</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,080,675</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Liabilities</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,191,542</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,137,882</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,573,184</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,573,184</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stockholders&#8217;
      Equity (Deficiency)&#160;</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,227</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,604,752</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,321,509</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,507,491</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="TEXT-ALIGN: justify">
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 40px">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></div>
              </td>
              <td width="821" style="TEXT-ALIGN: justify">
                <div style="TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gives
      effect to the sale of units by us in this offering at an assumed offering
      price of $ 17.00 per unit , after deducting
      discounts and estimated offering expenses to be paid by
      us.</font></div>
                    </div>
                  </div>
                </div>
              </td>
            </tr></table>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RISK
F<a name="risk">ACTORS</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">An
investment in our securities involves a high degree
of risk. You should carefully consider the risks described below and the other
information in this prospectus before investing in our securities. &#160;&#160;If any of the events anticipated by
the risks described below occur, our results of operations and financial
conditions could be adversely affected which could result in a decline in the
market price of our securities , causing you to lose
all of part of your investment.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Risk
Factors Relating to Our Business</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
have a limited operating history with significant losses and expect losses to
continue for the foreseeable future.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company was incorporated in the State of Nevada on April 26, 2005 under the name
&#8220;Vector Ventures Corp&#8221; and did not have any business operations until it
acquired Elite FX, Inc., a Florida corporation, by reverse merger in January
2007. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It is
difficult to evaluate our business future and prospects as we are a young
company with a limited operating history.&#160;&#160;Our future operating
results will depend on many factors, both in and out of our control, including
the ability to increase and sustain demand for and acceptance of our products,
the level of our competition, and our ability to attract and maintain key
management and employees.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Elite FX,
Inc. incurred operating losses from its inception in 2004 to our acquisition in
January 2007. We have incurred losses since the acquisition and launching our
own commercial operations. We have yet to establish any history of profitable
operations. We have incurred an operating loss during the first nine months
ending September 30, 2009 of $5.2 million. As a result, at September 30, 2009,
we had an accumulated deficit of $16.7 million. Our revenues have not been
sufficient to sustain our operations. We expect that our revenues will not be
sufficient to sustain our operations for the foreseeable future. Our
profitability will require the successful commercialization of our current
Celsius<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font>
product line and any future products we develop. No assurances can be given when
this will occur or that we will ever be profitable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
may require additional capital in the future, which may not be available on
favorable terms or at all.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that the net proceeds of this offering, together with anticipated
revenues from operations, will enable us to fund our operations and business
plan for the next 18 months or until we become cash flow
positive. However, there is no assurance that our assumptions as to our
company&#8217;s capital needs will be correct and that we will not need to raise
additional financing either after or prior to the end of such 18 month period
or until we become cash flow positive. We anticipate
that any such additional funds would be raised through equity or debt
financings.&#160;&#160;In addition, we may enter into one or more revolving
credit facilities or term loan facilities with one or more syndicates of
lenders. It is possible that equity or debt financing will not be available to
when we seek it.&#160;&#160;Such equity or debt financing, if available, may be
on terms that are not favorable to us. Even if we are able to raise capital
through equity or debt financings,&#160;&#160;the interest of existing
shareholders in our company may be diluted, and the securities we issue may have
rights, preferences and privileges that are senior to those of our common stock
or may otherwise materially and adversely affect the holdings or rights of our
existing shareholders. If we cannot obtain adequate capital when needed on
reasonable terms, we may not be able to fully implement our business plan, and
our business, results of operations and financial condition would be adversely
affected.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
rely on third party co-packers to manufacture our products. If we are unable to
maintain good relationships with our co-packers and/or their ability to
manufacture our products becomes constrained or unavailable to us, our business
could suffer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We do not
directly manufacture our products, but instead outsource such manufacturing to
established third party co-packers.&#160;&#160;These third party co-packers may
not be able to fulfill our demand as it arises, could begin to charge rates that
make using their services cost inefficient or may simply not be able to or
willing to provide their services to us on a timely basis or at all. In the
event of any disruption or delay, whether caused by a rift in our relationship
or the inability of our co-packers to manufacture our products as required, we
would need to secure the services of alternative co-packers.&#160;&#160;We may
be unable to procure alternative packing facilities at commercially reasonable
rates and/or within a reasonably short time period and any such transition could
be costly.&#160;&#160;In such case, our business, financial condition and
results of operations would be adversely affected.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
        <div>&#160;</div>
        <div>&#160;</div>
        <div><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We rely
on distributors to distribute our products in the DSD sales channel. If we are
unable to secure such distributors and/or we are unable to maintain good
relationships with our existing distributors, our business could
suffer.</font></font></font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
distribute Celsius&#174; in the DSD sales channel by entering into agreements with
direct-to-store delivery distributors having established sales, marketing and
distribution organizations. Many of our distributors are affiliated with and
manufacture and/or distribute other beverage products. In many cases, such
products compete directly with our products.&#160;&#160;The marketing efforts of
our distributors are important for our success. If Celsius&#174; proves to be less
attractive to our distributors and/or if we fail to attract distributors, and/or
our distributors do not market and promote our products with greater focus in
preference to the products of our competitors, our business, financial condition
and results of operations could be adversely affected.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Our
customers are material to our success. If we are unable to maintain good
relationships with our existing customers, our business could
suffer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Unilateral
decisions could be taken by our distributors, grocery chains, convenience
chains, drug stores, nutrition stores, mass merchants, club warehouses and other
customers to discontinue carrying all or any of our products that they are
carrying at any time, which could cause our business to suffer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Increases</font> <font style="DISPLAY: inline; FONT-STYLE: italic">in cost or shortages of raw
materials or increases in costs of co-packing could harm our
business</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
principal raw materials used by us are flavors and ingredient blends as well as
aluminum cans, the prices of which are subject to fluctuations. We are uncertain
whether the prices of any of the above or any other raw materials or ingredients
we utilize will rise in the future and whether we will be able to pass any of
such increases on to our customers. We do not use hedging agreements or
alternative instruments to manage the risks associated with securing sufficient
ingredients or raw materials. In addition, some of these raw materials, such as
our distinctive sleek 12 ounce can, are available from a single or a limited
number of suppliers. As alternative sources of supply may not be available, any
interruption in the supply of such raw materials might materially harm
us.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Our
failure to accurately estimate demand for our products could adversely affect
our business and financial results.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We may
not correctly estimate demand for our products. If we materially underestimate
demand for our products and are unable to secure sufficient ingredients or raw
materials, we might not be able to satisfy demand on a short-term basis, in
which case our business, financial condition and results of operations could be
adversely affected.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
depend upon our trademarks and proprietary rights, and any failure to protect
our intellectual property rights or any claims that we are infringing upon the
rights of others may adversely affect our competitive position.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Our
success depends, in large part, on our ability to protect our current and future
brands and products and to defend our intellectual property rights. We cannot be
sure that trademarks will be issued with respect to any future trademark
applications or that our competitors will not challenge, invalidate or
circumvent any existing or future trademarks issued to, or licensed by,
us.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
products are manufactured using our proprietary blends of ingredients. These
blends are created by third-party suppliers to our specifications and then
supplied to our co-packers. Although all of the third parties in our supply and
manufacture chain execute confidentiality agreements, there can be no assurance
that our trade secrets, including our proprietary ingredient blends will not
become known to competitors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that our competitors, many of whom are more established, and have
greater financial and personnel resources than we do, may be able to replicate
or reverse engineer our processes, brands, flavors, or our products in a manner
that could circumvent our protective safeguards. Therefore, we cannot give you
any assurance that our confidential business information will remain
proprietary.&#160;&#160;Any such loss of confidentiality could diminish or
eliminate any competitive advantage provided by our proprietary
information.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">We may incur material losses as a
result of product recall and product liability</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;We
may be liable if the consumption of any of our products causes injury, illness
or death. We also may be required to recall some of our products if they become
contaminated or are damaged or mislabeled. A significant product liability
judgment against us, or a widespread product recall, could have a material
adverse effect on our business, financial condition and results of operations.
The amount of the insurance we carry is limited, and that insurance is subject
to certain exclusions and may or may not be adequate.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
may not be able to develop successful new products, which could impede our
growth and cause us to sustain future losses.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Part of
our strategy is to increase our sales through the development of additional
products. We cannot assure you that we will be able to develop, market, sell and
distribute additional products that will enjoy market acceptance. The failure to
develop new products that gain market acceptance could have an adverse impact on
our growth and materially adversely affect our financial condition.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Our
lack of product diversification and inability to timely introduce new or
alternative products could cause us to cease operations.&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
business is centered on Celsius&#174;. The risks associated with focusing on a
limited product line are substantial. If consumers do not accept our products or
if there is a general decline in market demand for, or any significant decrease
in, the consumption of functional beverages, we are not financially or
operationally capable of introducing alternative products within a short time
frame. As a result, such lack of acceptance or market demand decline could cause
us to cease operations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
are dependent on our key executives and employees and the loss of any of their
services could materially adversely affect us which may have a material adverse
effect on our Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
future success will depend substantially upon the abilities of, and personal
relationships developed by a limited number of key executives and employees,
including Stephen C. Haley, our Chief Executive Officer, President and Chairman
of the Board, Geary W. Cotton, our Chief Financial Officer and Irina Lorenzi,
our Innovations Vice President. The loss of the services of Mr. Haley, Mr.
Cotton, Ms. Lorenzi or any other key employee could materially adversely affect
our business and our prospects for the future. We do not have key person
insurance on the lives of such individuals and the loss of any of their services
could materially adversely affect us.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">We are dependent
on our ability to attract and retain qualified technical, sales and managerial
personnel</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Our
future success depends in part on our continuing ability to attract and retain
highly qualified technical, sales and managerial personnel. Competition for such
personnel in the beverage industry is intense and we may not be able to retain
our key managerial, sales and technical employees or attract and retain
additional highly qualified technical, sales and managerial personnel in the
future. Any inability to attract and retain the necessary technical, sales and
managerial personnel could materially adversely affect us.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">The
FDA has not passed on the efficacy of our products or the accuracy of any claim
we make related to our products.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Although five independent clinical
studies have been conducted relating to the calorie-burning and related effects
of our products, the results of these studies have not been submitted to or
reviewed by the FDA.&#160;&#160;Further, the FDA has not passed on the efficacy
of any of our products nor has it reviewed or passed on any claims we make
related to our products, including the claim that our products aid consumers in
burning calories or enhancing their metabolism.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Risk
Factors Relating to Our Industry</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">We are subject to significant
competition in the beverage industry</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
beverage industry is highly competitive. The principal areas of competition are
pricing, packaging, distribution channel penetration, development of new
products and flavors and marketing campaigns. Our products compete with a wide
range of drinks produced by a relatively large number of manufacturers, most of
which have substantially greater financial, marketing and distribution resources
and name recognition than we do.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Important
factors affecting our ability to compete successfully include the taste and
flavor of our products, trade and consumer promotions, rapid and effective
development of new, unique cutting edge products, attractive and different
packaging, branded product advertising and pricing. Our products compete with
all liquid refreshments and with products of much larger and substantially
better financed competitors, including the products of numerous nationally and
internationally known producers, such as The Coca Cola Company, Dr. Pepper
Snapple Group, PepsiCo, Inc., Nestle, Waters North America, Inc., Hansen Natural
Corp. and Red Bull. We also compete with companies that are smaller or primarily
local in operation. Our products also compete with private label brands such as
those carried by supermarket chains, convenience store chains, drug store
chains, mass merchants and club warehouses.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There can
be no assurance that we will compete successfully in the functional beverage
industry. The failure to do so would materially adversely affect our business,
financial condition and results of operations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We
compete in an industry that is brand-conscious, so brand name recognition and
acceptance of our products are critical to our success and significant marketing
and advertising will be needed to achieve and sustain brand
recognition.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
business is substantially dependent upon awareness and market acceptance of our
products and brands by our targeted consumers. Our business depends on
acceptance by our independent distributors of our brand as one that has the
potential to provide incremental sales growth rather than reduce distributors&#8217;
existing beverage sales. The development of brand awareness and market
acceptance is likely to require significant marketing and advertising
expenditures. Even if we are able to engage in such marketing and advertising
efforts, there can be no assurance that Celsius&#174; will achieve and maintain
satisfactory levels of acceptance by independent distributors and retail
consumers. Any failure of Celsius&#174; brand to maintain or increase acceptance or
market penetration would likely have a material adverse affect on business,
financial condition and results of operations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Our
sales are affected by seasonality.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As is
typical in the beverage industry, our sales are seasonal. Our highest sales
volumes generally occur in the second and third quarters, which correspond to
the warmer months of the year in our major markets. Consumer demand for our
products is also affected by weather conditions. Cool, wet spring or summer
weather could result in decreased sales of our beverages and could have an
adverse effect on our results of operations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Our business is subject to many
regulations and noncompliance is costly</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
production, marketing and sale of our beverage products are subject to the rules
and regulations of various federal, state and local health agencies. If a
regulatory authority finds that a current or future product or production run is
not in compliance with any of these regulations, we may be fined, or production
may be stopped, thus adversely affecting our financial conditions and
operations. Similarly, any adverse publicity associated with any noncompliance
may damage our reputation and our ability to successfully market our products.
Furthermore, the rules and regulations are subject to change from time to time
and while we closely monitor developments in this area, we have no way of
anticipating whether changes in these rules and regulations will impact our
business adversely. Additional or revised regulatory requirements, whether
labeling, environmental, tax or otherwise, could have an adverse effect on our
business, financial condition and results of operations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Risks
Relating to our Common Stock and Warrants and the
Offering</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">There
are a large number of shares underlying our convertible promissory notes,
convertible preferred stock and warrants that may be available for future sale
and the sale of these shares may depress the market price of our common
stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
February 5, 2010, we had 12,029,519 shares of common
stock issued and outstanding. As of the same date, we also had convertible
promissory notes outstanding that may be converted into an estimated 792,599 shares of our common stock, 2,063,125 shares of
common stock issuable upon conversion of our issued and outstanding Series A
preferred stock and 1,582,951 shares of common stock
issuable upon the exercise of warrants and stock options. In addition, we will
issue warrants to purchase 900,000 shares of common stock in this offering.
Most, if not all of these shares may be sold into the market place currently.
The sale of these shares may adversely affect the market price of our common
stock and warrants. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Our executive officers, directors
and principal shareholders own a significant percentage of our company and will
be able to exercise significant influence over our company</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Immediately
following this offering, our executive officers and directors and principal
shareholders collectively will beneficially own approximately 49.6% of the total
voting power of our outstanding voting capital stock. These shareholders will be
able to determine the composition of our board of directors, will retain the
voting power to approve all matters requiring shareholder approval and will
continue to have significant influence over our affairs. This concentration of
ownership could have the effect of delaying or preventing a change in our
control or otherwise discouraging a potential acquirer from attempting to obtain
control of us, which in turn could have a material and adverse effect on the
market price of the common stock or prevent our shareholders from realizing a
premium over the market prices for their shares of common stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">Our
board of directors will have broad discretion over the application of a
significant portion of the net proceeds of the offering.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Approximately
$ 4.3 million or 31% of the estimated net proceeds of
the offering&#160;&#160;has been allocated to general corporate purposes,
including working capital.&#160;&#160;Accordingly, our board of directors will
have broad discretion over the allocation of these proceeds.</font></div>
          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-STYLE: italic">We cannot guarantee the existence of
an established public trading market</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Although
our common stock and warrants will be listed on the Nasdaq Capital Market upon
completion of this offering under the symbols &#8220;CELH&#8221; and &#8220;CELHW&#8221;, respectively,
and our common stock currently trades on the OTC Bulletin Board, a regular
trading market for our securities may not be sustained in the future. The OTC
Bulletin Board is an inter-dealer, over-the-counter market that provides
significantly less liquidity than the Nasdaq Capital Market. Quotes for stocks
included on the OTC Bulletin Board are not listed in the financial sections of
newspapers as are those for the Nasdaq Capital Market. Therefore, prices for
securities traded solely on the OTC Bulletin Board may be difficult to obtain
and holders of common stock may be unable to resell their securities at or near
their original offering price or at any price. Market prices for our securities
will be influenced by a number of factors, including:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div>
          <div>
            <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td valign="top" width="13%">
                    <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                  </td>
                  <td align="left" valign="top" width="87%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">the
      issuance of new equity securities pursuant to an
  offering;</font></div>
                  </td>
                </tr><tr>
                  <td valign="top" width="13%">
                    <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                  </td>
                  <td align="left" valign="top" width="87%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">changes
      in interest rates;</font></div>
                  </td>
                </tr></table>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#160;</font></div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>&#160;</div>
      <div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="top" width="13%">
                  <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                </td>
                <td align="left" valign="top" width="87%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">competitive
      developments, including announcements by competitors of new products or
      services or significant contracts, acquisitions, strategic partnerships,
      joint ventures or capital commitments;</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="13%">
                  <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                </td>
                <td align="left" valign="top" width="87%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">variations
      in quarterly operating results;</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="13%">
                  <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                </td>
                <td align="left" valign="top" width="87%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">change
      in financial estimates by securities analysts;</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="13%">
                  <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                </td>
                <td align="left" valign="top" width="87%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">the
      depth and liquidity of the market for our common stock;</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="13%">
                  <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                </td>
                <td align="left" valign="top" width="87%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">investor
      perceptions of our company and the aquaculture industry generally;
      and</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="13%">
                  <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
                </td>
                <td align="left" valign="top" width="87%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">general
      economic and other national
conditions.</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Because
we do not intend to pay dividends, shareholders will benefit from an investment
in shares of our common stock only if our shares appreciate in
value.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We have never declared or paid any cash
dividends on shares of our common stock. We currently intend to retain our
future cash flows, if any, to finance the operation and growth of our business
and, therefore, do not expect to pay any cash dividends in the foreseeable
future. As a result, shareholders will benefit from an investment in shares of
our common stock only if it appreciates in value. There is no guarantee that
shares of our common stock will appreciate in value or even maintain the price
at which shareholders have purchased their shares. Furthermore, our current
credit facility restricts the amount of dividends we may pay to our
shareholders.&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">An
investor will only be able to exercise a warrant if the issuance of common stock
upon such exercise has been registered or qualified or is deemed exempt under
the securities laws of the state of residence of the holder of the
warrants.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>No warrants will be exercisable and we
will not be obligated to issue shares of common stock unless the common stock
issuable upon such exercise has been registered or qualified or deemed to be
exempt under the securities laws of the state of residence of the holder of the
warrants.&#160;&#160;Because the exemptions from qualification in certain states
for resales of warrants and for issuances of common stock by the issuer upon
exercise of a warrant may be different, a warrant may be held by a holder in a
state where an exemption is not available for issuance of common stock upon an
exercise and the holder will be precluded from exercise of the
warrant.&#160;&#160;We expect to be listed on a national securities exchange,
which would provide an exemption from registration in every state for the
issuance of common stock upon exercise of the warrant.&#160;&#160;Accordingly,
we believe holders in every state will be able to exercise their warrants as
long as our prospectus relating to the common stock issuable upon exercise of
the warrants is current.&#160;&#160;However, we cannot assure you of this
fact.&#160;&#160;As a result, the warrants may be deprived of any value and the
holders of warrants may not be able to exercise their warrants if the common
stock issuable upon such exercise is not qualified or exempt from qualification
in the jurisdictions in which the holders of the warrants reside.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">An
effective registration statement may not be in place when an investor desires to
exercise warrants, thus precluding such investor from being able to exercise
his, her or its warrants at that time.</font> </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">No
warrant held by an investor will be exercisable and we will not be obligated to
issue common stock unless at the time such holder seeks to exercise such
warrant, a prospectus relating to the common stock issuable upon exercise of the
warrant is current (or an exemption from registration is available) and the
common stock has been registered or qualified or deemed to be exempt under the
securities laws of the state of residence of the holder of the warrants. Under
the terms of the warrant agreement, we have agreed to use our best efforts to
meet these conditions and to maintain a current prospectus relating to the
common stock issuable upon exercise of the warrants until the expiration of the
warrants. However, we cannot assure you that we will be able to do so, and if we
do not maintain a current prospectus related to the common stock issuable upon
exercise of the warrants (and an exemption from registration is not available),
holders will be unable to exercise their warrants and we will not be required to
net cash settle any such warrant exercise. If we are unable to issue the shares
of common stock upon exercise of the warrants by an investor because there is no
current prospectus relating to the common stock issuable upon exercise of the
warrant (and an exemption from registration is not available) or the common
stock has not been registered or qualified or deemed to be exempt under the
securities laws of the state of residence of the holder of the warrants, the
warrants will not expire until ten days after the date we are first able to
issue the shares of common stock.&#160;&#160;Nevertheless, because an investor
may not be able to exercise the warrants at the most advantageous time, the
warrants held by an investor may have no value, the market for such warrants may
be limited and such warrants may expire worthless.</font> </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORWARD<a name="4ward"><!--EFPlaceholder-->
 -LOOKING </a>STATEMENTS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Information
included in this prospectus contains forward-looking statements within the
meaning of Section&#160;27A of the Securities Act of 1933 and Section&#160;21E
of the Securities Exchange Act of 1934. This information involves known and
unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements to be materially different from the future
results, performance or achievements expressed or implied by any forward-looking
statements. Forward-looking statements, which involve assumptions and describe
our future plans, strategies and expectations, are generally identifiable by use
of the words &#8220;may&#8221;, &#8220;should&#8221;, &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;estimate&#8221;, &#8220;believe&#8221;,
&#8220;intend&#8221; or &#8220;project&#8221; or the negative of these words or other variations on
these words or comparable terminology.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
forward-looking statements in this prospectus include statements regarding,
among other things, (a) our projected sales and profitability, (b) our growth
strategies, (c) anticipated trends in our industry, (d) our future financing
plans and (e) our anticipated needs for working capital. These statements may be
found under &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and
Results of Operations&#8221; and &#8220;Business&#8221;, as well as in this prospectus generally.
Actual events or results may differ materially from those discussed in
forward-looking statements as a result of various factors, including, without
limitation, the risks outlined under &#8220;Risk Factors&#8221; and matters described in
this prospectus generally. In light of these risks and uncertainties, there can
be no assurance that the forward-looking statements contained in this prospectus
will in fact occur.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The risk
factors set forth in this prospectus are not exhaustive. There can be no
assurance that we have correctly identified and appropriately assessed all
factors affecting our business or that the publicly available and other
information with respect to these matters is complete and correct. Additional
risks and uncertainties not presently known to us or that we currently believe
to be immaterial also may adversely impact us. Should any risks and
uncertainties develop into actual events, these developments could have material
adverse effects on our business, financial condition and results of operations.
For these reasons, the reader is cautioned not to place undue reliance on our
forward-looking statements.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">13</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DI<a name="dilut"><!--EFPlaceholder-->
 LUTI</a>ON</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If you
invest in our units, your ownership interest will be diluted to the extent of
the difference between the offering price per share and the net tangible book
value per share of our common stock after this offering.&#160;&#160;Our net
tangible book value as of September 30, 2009 was approximately $(2,300,000), or
approximately $(.20) per share of common stock. Net tangible book value per
share represents total tangible assets less total liabilities, divided by the
number of shares of common stock outstanding.&#160;&#160;Dilution in net
tangible book value per share represents the difference between the amount per
share paid by purchasers of units in this offering and the net tangible book
value per share of common stock immediately after the closing of this offering.
For purposes of this calculation, the entire purchase price for a unit sold
pursuant to this offering is being allocated to the common stock contained in
the unit.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">After
giving effect to the sale of the units in this offering at an assumed offering
price of $17.00 per unit, and after deducting the
estimated offering expenses payable by us, our pro forma net tangible book value
as of September 30, 2009 would have been approximately $ 11.5 million, or $ 0.75 per
share of common stock.&#160;&#160;This represents an immediate increase in net
tangible book value of $ 0.95 per share to existing
stockholders and an immediate dilution of $ 3.50 per
share to new investors purchasing units in this offering at the assumed public
offering price.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table illustrates this dilution on a per share basis:</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td align="left" valign="top" width="55%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Assumed
      public offering price per unit</font></div>
                    </td>
                    <td align="left" valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$17.00</font> </div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="55%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      tangible book value per share as of September 30, 2009</font></div>
                    </td>
                    <td align="left" valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$(.20)</font></div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="55%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase
      in net tangible book value attributable to this offering</font></div>
                    </td>
                    <td align="left" valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.8
      million</font> </div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="55%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pro
      forma net tangible book value per share as of September 30, 2009 after
      giving effect to this offering</font></div>
                    </td>
                    <td align="left" valign="top" width="18%">
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.75</font> </div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="55%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dilution
      per share to new investors in this offering</font></div>
                    </td>
                    <td align="left" valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.50</font> </div>
                    </td>
                  </tr></table>
            </div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The calculations above are based on
11,641,762 shares of common stock outstanding as of September 30, 2009 after
giving effect to the sale of the common stock in the offering. This number
excludes 3,559,288 shares of common stock subject to warrants, options,
convertible debt and preferred stock outstanding as of September 30, 2009, but
gives effect to the 1-for-20 reverse stock split and the conversion of our
Series B preferred stock into common stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">USE
<a name="proceed"><!--EFPlaceholder-->
OF PROCEEDS</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
estimate that the net proceeds from our sale of units in this offering, assuming
a public offering price of $ 17.00 per unit, after
deducting underwriting discounts and estimated offering expenses payable by us,
will be approximately $ 13.8 million (approximately
$ 16.0 million if the over-allotment option we
granted to the underwriters is exercised in full).</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
inten d to use the net proceeds from this offering
(prior to the sale of any additional units pursuant to the exercise of the
over-allotment option) generally as follows:</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 72pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">approximately
      $9,000,000 for 2010 marketing efforts, including intensified broadcast and
      print media advertising;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 72pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">approximately
      $500,000 for new product development, including testing new flavors and
      delivery systems; and</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 72pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">the
      remaining proceeds of approximately $ 4,300,000
      for general corporate purposes, including working
  capital.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
underwriter s' over-allotment option, if exercised in
full, provides for the issuance of up to 135,000 additional units, for
additional net proceeds of $2.1 million . Any
proceeds obtained upon exercise of the over-allotment option will be used to
prepay a portion of the convertible note outstanding to CDS Ventures of South
Florida, LLC, and for working capital. The proceeds from the exercise of any
warrants will be used for working capital.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We will
have broad discretion over the manner in which the net proceeds of the offering
will be applied, and we may not use these proceeds in a manner desired by our
shareholders. Although we have no present intention of doing so, future events
may require us to reallocate the offering proceeds.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="center">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CAPITA<a name="cap"><!--EFPlaceholder-->
 LIZA</a>TION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
following table sets forth our capitalization (i) as of September 30, 2009, and
(ii) as adjusted as of that date to give effect to the 1-for-20 reverse stock
split implemented on December 23, 2009, the conversion of our Series B preferred
stock into common stock on December 23, 2009, and the application of the
estimated net proceeds of this offering (at an assumed public offering price of
$ 17.00 per unit).&#160;&#160;This table should be
read in conjunction with our consolidated financial statements and the related
notes, appearing elsewhere in this prospectus.</font></div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
      <div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="12%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" colspan="2" valign="bottom" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -0.9pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -0.9pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td align="left" valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Unaudited)</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -0.9pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(As
      adjusted)</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="12%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="12%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      and cash equivalents</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">647,598</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16,752,798</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equipment,
      net</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">190,819</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">190,819</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Due
      to related parties, short term portion</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,580,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,580,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, net of debt discount</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">242,539</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">242,539</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, net of debt discount, related party</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,172,742</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,172,742</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Note
      due to related parties</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125,349</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125,349</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shareholder&#8217;s
      equity:</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" colspan="4" valign="bottom" width="85%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,000,000,000
      and 50,000,000 shares of common stock, par value
    $.001,</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">authorized,
      actual and as adjusted; 50,000,000 and 2,500,000 shares
      of</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;preferred
      stock, par value $.001, authorized, actual and as
      adjusted;</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" colspan="4" valign="bottom" width="85%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,092
      and 104.1 shares of preferred stock, issued and
      outstanding</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;actual
      and as adjusted</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">153
      million and 15,241,762 shares of common stock, issued
      and</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;outstanding,
      actual and as adjusted</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,631</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,242</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional
      paid-in capital</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14,389,057</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28,210,446</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Retained
      deficit</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(16,718,197</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(16,718,197</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      shareholder&#8217;s equity</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,321,509</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,507,491</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      capitalization</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,799,121</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,628,121</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr></table>
        </div>
      </div>
      <div>&#160;</div>
      <div>
        <div align="left">&#160;</div>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SELECTED
<a name="selec"><!--EFPlaceholder-->
CONSOLIDATED FINANCIAL </a> INFORMATION </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
selected consolidated financial information as of
and for the years ended December 31, 2008 and 2007 is derived from our audited
financial statements for the years ended December 31, 2008 and 2007 and should
be read in conjunction with the consolidated financial statements and related
notes included elsewhere in this prospectus.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
selected consolidated financial&#160; information as
of and for the nine months ended September 30, 2009 and September 30, 2008 is
derived from our unaudited interim financial statements for the nine months
ended September 30, 2009 and September 30, 2008 and should be read in
conjunction with the consolidated financial statements and related notes,
included elsewhere in this prospectus.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="bottom" width="44%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="6" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year
      Ended December 31,</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="6" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nine
      Months ended September 30,</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td valign="bottom" width="44%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td valign="bottom" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      sales</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,589,887</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,644,780</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,480,475</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,968,975</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost
      of sales</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,833,184</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,033,971</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,987,389</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,386,509</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross
      profit</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">756,703</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">610,809</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,493,086</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">582,466</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      and marketing expenses</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,936,552</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,100,687</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,295,383</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,909,993</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">General
      and administrative expense</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,740,143</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,554,510</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,427,747</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,322,579</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Termination
      of contract expense</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      from operations</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,919,992</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,544,388</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,230,044</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,650,106</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      expense:</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">341,608</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">181,453</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105,785</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">292,382</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,261,600</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,725,841</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,335,829</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,942,488</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic
      and diluted:</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="44%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      per share</font></div>
              </td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.82</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.74</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.71</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.64</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
            </tr><tr bgcolor="white">
              <td valign="bottom" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">15</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BUSI<a name="biz"><!--EFPlaceholder-->
 NESS</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Overview</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We are
engaged in the development, marketing, sale and distribution of &#8220;functional&#8221;
calorie-burning beverages under the Celsius&#174; brand name. According to multiple
clinical studies we funded, a single serving (12 ounce can) of Celsius&#174; burns up
to 100 calories by increasing a consumer&#8217;s metabolism an average of 12% and
providing sustained energy for up to a three-hour period.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We seek to combine nutritional science
with mainstream beverages by using our proprietary thermogenic (calorie-burning)
MetaPlus&#174; formulation, while fostering the goal of healthier everyday
refreshment by being as natural as possible without the artificial preservatives
often found in many energy drinks or sodas. Celsius&#174; has no artificial
preservatives, aspartame or high fructose corn syrup and is very low in sodium.
Celsius&#174; uses good-for-you ingredients and supplements such as green tea (EGCG),
ginger, calcium, chromium, B vitamins and vitamin C.&#160;&#160;Celsius is
sweetened with sucralose, a sugar-derived sweetener that is found in Splenda&#174;,
which makes our beverages low-calorie and suitable for consumers whose sugar
intake is restricted.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We have
undertaken significant marketing efforts aimed at building brand awareness,
including a recently launched nationwide marketing campaign focused on
television, radio, on-line and magazine advertising.&#160;&#160;We intend to
launch an on-line campaign with viral marketing, as soon as our testing phase is
completed.&#160;&#160;We also undertake various promotions at the retail level
such as coupons and other discounts.&#160;&#160;We have recently engaged Mario
Lopez to be our national celebrity spokesperson.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In the past, we mainly sold and
distributed our products through our network of independent direct-to-store
(DSD) distributors. At present, we sell and distribute to a larger extent, to
national and regional retail accounts through a direct-to-retail (DTR) marketing
strategy.</font></div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our DSD distributor network is
primarily concentrated in Florida, Atlanta, Michigan, New England, Ohio and
Texas. Through our DSD distributor network, Celsius&#174; is available in various
major retail chains, including Hannafords, Shaw&#8217;s, Tedeschi, Wegmans and Xtra
Mart (Northeast), CVS (New England), Sweetbay (Florida) and HEB
(Texas).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our DTR
marketing strategy focuses on sales made directly or with the assistance of
brokers to national and regional supermarkets, convenience stores, drug stores,
nutrition stores, mass merchants and club warehouses. As of the date of this
prospectus, we have DTR relationships with and are rolling out Celsius&#174; products
into Vitamin Shoppe, GNC, Supervalu, Duane Reade, Albertsons, Rite-Aid and 7-11
stores, among others.&#160;&#160;We made a test shipment in December 2009 to
285 Costco stores, and if successful, we plan to
make a full launch into all 404 of their stores
in the United States and Puerto Rico in March
2010.&#160;&#160;We also have recently commenced
shipping to Walgreen&#8217;s and CVS on a national basis, covering approximately
14,000 stores in total.&#160;&#160;Other retailers who became DTR customers
during the fourth quarter of 2009 include Giant, Stop &amp; Shop, Shoprite and
Winn Dixie.&#160;&#160;The DTR channel, which we believe affords us broader
geographic distribution and increased brand awareness, has contributed to an
increasing percentage of our sales growth and is expected to be the primary
channel for our future sales growth.</font></font></div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We do not directly manufacture our
beverages, but instead outsource the manufacturing process to established
third-party co-packers.&#160;&#160;We do, however, provide our co-packers with
flavors, ingredient blends, cans and other raw materials for our beverages
purchased by us from various suppliers.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Industry
Overview</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
&#8220;functional&#8221; beverage category includes a wide variety of beverages with one or
more added ingredients to satisfy a physical or functional need, such as sports
drinks, energy drinks, and non-carbonated ready to drink teas.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Size of
Market</font> &#8211; According <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to a
report by Accenture Consulting, the size of the annual non-alcoholic beverage
market was estimated to have grown to more than $17.4 billion in the United
States in 2009.&#160;&#160;A growing portion of this market is the functional
beverage market, which was estimated at $9.7 billon, in 2009, according to
Datamonitor.&#160;&#160;This market is estimated to grow to $19.7 billion by
2013, a compound annual growth rate of 15.2% over
that time period.</font></font></div>
    </div>
    <div style="TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: center"><img src="fs1nov09img2_celsius.gif" alt=""></div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: center">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Current Market
Segmentation</font> &#8211; The growing functional beverage market can be further
segmented into several different sub-categories, such as energy drinks, sports
drinks, and nutraceutical drinks.&#160;&#160;According to Datamonitor, as of
2008, the largest category of functional drinks was energy drinks with
approximately 62% market share and sports drinks with an approximately 26%
market share.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><img src="fs1nov09img3_celsius.gif" alt=""></div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that Celsius&#174; is both a member of the energy drink sub-category, as well
as creating a new category of beverages, calorie-burning.&#160;&#160;It has some
of the same functional elements of an energy drink, but unlike the majority of
the sugary (high calorie) competitors in this space, Celsius&#174; does not contain
high fructose corn syrup and burns up to 100 calories by increasing a drinker&#8217;s
metabolism an average of 12% for up to a three-hour period.&#160;&#160;We
believe that Celsius&#174; is a superior product to currently available energy drinks
due to its low caloric content, its calorie burning capabilities and its lack of
artificial preservatives, colors and flavors.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Changing Industry
Trends</font> &#8211; There is an increased concern among consumers, the public health
community and various government agencies of the potential health problems
associated with inactive lifestyles and obesity.&#160;&#160;There are currently
several proposals in the U.S. Congress seeking to address the issue of
consumption of sugary drinks by children and other
consumers.&#160;&#160;Participants in the non-alcoholic beverage market are
responding to these concerns by bringing to market new healthier products such
as diet and light beverages, juices and juice drinks, sports drinks and water
products.</font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">17</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Growing Number of
Adults with Obesity:</font> According to statistics from the U.S. Center for
Disease Control and Prevention (CDC) during the past 20 years there has been a
dramatic increase in obesity in the United States. In 2008, only one state
(Colorado) had a prevalence of obesity less than 20%. Thirty-two states had
prevalence equal to or greater than 25%; six of these states (Alabama,
Mississippi, Oklahoma, South Carolina, Tennessee, and West Virginia) had a
prevalence of obesity equal to or greater than 30%.</font></div>
    <div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The maps
below show the change in obesity prevalence from
1985 through 2008 in the United
States. </font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
    </div>
    <div>&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td width="50%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><img src="fs1nov09img4_celsius.jpg" alt="">&#160;</font></td>
            <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<img src="fs1nov09img5_celsius.gif" alt=""></font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Industry Trends
Benefit Celsius&#174;</font> &#8211; The Company believes that it has strategically placed
itself to capitalize on several macro-trends in the beverage space by filling a
need that it not currently being met by its competitors in both the functional
and general non-alcoholic beverage markets.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With a
growing number of consumers seeking functional beverages, they are also
increasingly seeking out products that are the healthiest alternative within
those product categories.&#160;&#160;Many of the leading functional beverage
products contain high doses of sugar or high fructose corn syrup, sodium,
artificial flavors, and preservatives which may counter-balance some of the
other benefits the consumer is looking for.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius&#174;
has created its portfolio of beverages to specifically address these
issues.&#160;&#160;While maintaining great taste to the consumer, a 12 ounce can
of Celsius&#174; has a number of competitive advantages over some of the currently
leading beverages including:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">less
      artificial preservatives than almost all other energy drinks or
      sodas;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">no
      artificial colors or flavors;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">no
      aspartame;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">no
      high fructose corn syrup;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">low
      sodium content;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">use
      of good-for-you ingredients and supplements such as green tea (EGCG),
      ginger, calcium, chromium, B vitamins and vitamin C;
  and</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 75pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">&#167;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">use
      of our proprietary thermogenic (calorie-burning) MetaPlus&#174; formulation
      that allows Celsius&#174; to burn up to 100 calories by increasing a consumer&#8217;s
      metabolism an average of 12% and providing sustained energy for up to a
      3-hour period.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Products</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Celsius&#174; calorie-burning beverages were
first introduced to the marketplace in 2005.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>According to multiple clinical studies
we funded, a single serving (12 ounce can) of Celsius&#174; burns up to 100 calories
by increasing a consumer&#8217;s metabolism an average of 12% for up to a three-hour
period.&#160;&#160;In addition, these studies have indicated that drinking a
single serving of Celsius&#174; prior to exercising may improve cardiovascular health
and fitness and enhance the loss of fat and gain of muscle from
exercise.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We seek to combine nutritional science
with mainstream beverages by using our proprietary thermogenic (calorie-burning)
MetaPlus&#174; formulation, while fostering the goal of healthier everyday
refreshment by being as natural as possible without the artificial preservatives
often found in many energy drinks or sodas. Celsius&#174; has no chemical
preservatives, aspartame or high fructose corn syrup and is very low in sodium.
Celsius&#174; uses good-for-you ingredients and supplements such as green tea (EGCG),
ginger, calcium, chromium, B vitamins and vitamin C.&#160;&#160;Celsius is
sweetened with sucralose, a sugar-derived sweetener that is found in Splenda&#174;,
which makes our beverages low-calorie and suitable for consumers whose sugar
intake is restricted.&#160;&#160;Each 12 ounce can of Celsius&#174; contains 200
milligrams of caffeine which is comparable to two cups of
coffee.</font></div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">18</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We currently offer Celsius&#174; in seven
flavors, lemon-lime, ginger ale, cola, orange and wild berry (which are
carbonated) and non-carbonated green tea raspberry/acai and green tea/peach
mango. Our beverages are sold in 12 ounce cans, although we have recently begun
to market the active ingredients in powdered form in individual On-The-Go
packets.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Celsius&#174; is packaged in a distinctive
twelve ounce sleek can that uses vivid colors in abstract patterns to create a
strong on-shelf impact. The cans are sold as singles or in four-packs. The
graphics and clinically tested product are important elements to building the
Celsius&#174; brand and help justify premium pricing of $1.79 to $2.19 per can at
retail.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We target a niche in the functional
beverage segment of the beverage industry consisting of consumers seeking
calorie-burning beverages to help them manage their weight and enhance their
exercise regimen.&#160;&#160;Our target consumers are on-the-go women, age 25 to
54, who are looking for a way to burn calories and gain energy with healthy
beverages and natural alternatives to diet sodas, as well as sports enthusiasts
of both sexes, who are seeking low sodium, preservative-free
alternatives..</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We formulated Celsius&#174; by first working
with scientists to develop our MetaPlus&#174; thermogenic formula and then with
flavor houses to create beverages that tasted good.&#160;&#160;Our initial
flavors were those in our carbonated line, which were designed to offer
alternatives to popular carbonated soft drinks, while still offering comparable
flavors.&#160;&#160;Our non-carbonated teas were introduced for fitness
enthusiasts, who typically favor non-carbonated beverages.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In 2009, we developed our MetaPlus&#174;
formulation into a powder that can be mixed with water.&#160;&#160;We believe
that our On-The Go packets, which have recently been introduced to the market,
offer an attractive alternative to consumers who want to take Celsius&#174; with them
to the gym or while travelling without carrying the ready-to-drink 12 ounce
cans.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We believe that one of the core
competencies of our company is our ability to incorporate several beneficial
natural components with substantiated science into beverages while providing
consumers with great taste.&#160;&#160;We intend to use our core competencies in
product formulation to introduce additional flavors and delivery systems and to
endeavor to expand our product line by exploring the development of
complementary products utilizing our MetaPlus&#174; thermogenic
formulation.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Clinical
Studies</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>It is our belief that clinical studies
substantiating product claims will become more important as more and more
beverages are marketed with health claims. Celsius&#174; was one of the first
functional beverages to be launched along with a clinical study. Celsius&#174; is
also one of very few functional beverages that has clinical research on the
actual product itself. Some beverage companies that do mention studies backing
their claims are actually referencing independent studies conducted on one or
more of the ingredients in the product. We believe that it is important and will
become more important to have studies on the actual product.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
funded six U.S. based clinical studies for Celsius&#174;. Each was conducted by a research
organization and each studied the total Celsius&#174; formula. The first study was
conducted by the Ohio Research Group of Exercise Science and Sports Nutrition.
The remaining studies were conducted by the Applied Biochemistry &amp; Molecular
Physiology Laboratory of the University of Oklahoma. We funded all of the
studies and provided Celsius&#174; beverage for the studies. However, none of our
directors, executive officers or principal stockholders is in any way affiliated
with either of the two research organizations which conducted the
studies.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The first
study was conducted in 2005 by the Ohio Research Group of Exercise Science and
Sports Nutrition. The Ohio Research Group of Exercise Science &amp; Sports
Nutrition is a multidisciplinary clinical research team dedicated to exploring
the relationship between exercise, nutrition, dietary supplements and health,
www.ohioresearchgroup.com. This placebo-controlled, double-blind cross-over
study compared the effects of Celsius&#174; and the placebo on metabolic rate.
Twenty-two participants were randomly assigned to ingest a twelve ounce serving
of Celsius&#174; and on a separate day a serving of twelve ounces of Diet Coke<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font>. All
subjects completed both trials using a randomized, counterbalanced design.
Randomized means that subjects were selected for each group randomly to ensure
that the different treatments were statistically equivalent. Counterbalancing
means that individuals in one group drank the placebo on the first day and drank
Celsius&#174; on the second day. The other group did the opposite. Counterbalancing
is a design method that is used to control &#8220;order effects.&#8221; In other words, to
make sure the order that subjects were served, does not impact the results and
analysis.</font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Metabolic rate (via indirect
calorimetry, measurements taken from breaths into and out of calorimeter) and
substrate oxidation (via respiratory exchange ratios) were measured at baseline
(pre-ingestion) and for ten minutes at the end of each hour for three hours
post-ingestion. The results showed an average increase of metabolism of twelve
percent over the three hour period, compared to statistically insignificant
change for the control group. Metabolic rate, or metabolism, is the rate at
which the body expends energy. This is also referred to as the &#8220;caloric burn
rate.&#8221; Indirect calorimetry calculates heat that living organisms produce from
their production of carbon dioxide. It is called &#8220;indirect&#8221; because the caloric
burn rate is calculated from a measurement of oxygen uptake. Direct calorimetry
would involve the subject being placed inside the calorimeter for the
measurement to determine the heat being produced. Respiratory Exchange Ratio is
the ratio oxygen taken in a breath compared to the carbon dioxide breathed out
in one breath or exchange. Measuring this ratio can be used for estimating which
substrate (fuel such as carbohydrate or fat) is being metabolized or &#8216;oxidized&#8217;
to supply the body with energy.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The second study was conducted by the
Applied Biochemistry &amp; Molecular Physiology Laboratory of University of
Oklahoma in 2007. This blinded, placebo-controlled study was conducted on a
total of 60 men and women of normal weight. An equal number of participants were
separated into two groups to compare one serving (a single 12 ounce can) of
Celsius to a placebo of the same amount. According to the study, those subjects
consuming Celsius burned significantly more calories versus those consuming the
placebo, over a three-hour period. The study confirmed that over the three-hour
period, subjects consuming a single serving of Celsius&#174; burned 65% more calories
than those consuming the placebo beverage and burned an average of more than 100
calories compared to the placebo. These results were statistically
significant.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The third study, conducted by the
Applied Biochemistry &amp; Molecular Physiology Laboratory of University of
Oklahoma in 2007, extended our second study with the same group of 60
individuals and protocol for 28 days and showed the same statistical
significance of increased calorie burn (minimal attenuation). While the
University of Oklahoma study did extend for 28 days, more testing would be
needed for long term analysis of the Celsius&#174; calorie-burning effects. Also,
these studies were on relatively small numbers of subjects, they have
statistically significant results. Additional studies on a larger number and
wider range of body compositions can be considered to further the
analysis.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
fourth study, conducted by the Applied Biochemistry &amp; Molecular Physiology
Laboratory of University of Oklahoma in 2008, combined Celsius&#174; use with
exercise. This ten-week placebo-controlled, randomized and blinded study was
conducted on a total of 37 subjects. Participants were randomly assigned into
one of two groups: Group 1 consumed one serving of Celsius&#174; per day, and Group 2
consumed one serving of an identically flavored and labeled placebo beverage.
Both groups participated in ten weeks of combined aerobic and weight training,
following the American College of Sports Medicine guidelines of training for
previously sedentary adults. The results showed that consuming a single serving
of Celsius&#174; prior to exercising may enhance the positive adaptations of exercise
on body composition, cardio-respiratory fitness and endurance performance.
According to the preliminary findings, subjects consuming a single serving of
Celsius&#174; lost significantly more fat mass and gained significantly more muscle
mass than those subjects consuming the placebo &#8212; a
93.75% greater loss in fat and 50% greater gain in muscle mass, respectively.
The study also confirmed that subjects consuming Celsius&#174; significantly improved
measures of cardio-respiratory fitness and the ability to delay the onset of
fatigue when exercising to exhaustion.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our fifth study was conducted by the
Applied Biochemistry &amp; Molecular Physiology Laboratory of University of
Oklahoma in 2008. This ten-week placebo-controlled, randomized and blinded study
was conducted on a total of 27 previously sedentary overweight and obese female
subjects. Participants were randomly assigned into groups that consumed
identically tasting treatment beverages with exercise or without
exercise.&#160;&#160;All participants consumed one drink, either placebo or
Celsius, per day for 10 weeks.&#160;&#160;The exercise groups participated in
ten weeks of combined aerobic and weight training, following the American
College of Sports Medicine guidelines of training for previously sedentary
adults. No changes were made to their diet. The results showed that consuming a
single serving of Celsius&#174; prior to exercising may improve cardiovascular health
and fitness and enhance the positive adaptations of exercise on body
composition. According to the preliminary findings, subjects consuming a single
serving of Celsius&#174; lost significantly more fat mass and gained significantly
more muscle mass when compared to exercise alone &#8212; a
46% greater loss in fat, 27% greater gain in muscle mass, respectively. The
study also confirmed that subjects consuming Celsius&#174; significantly improved
measures of cardio-respiratory fitness &#8212; 35% greater
endurance performance with significant improvements to lipid profiles &#8212; total cholesterol decreases of 5 to 13% and bad LDL
cholesterol 12 to 18%. Exercise alone had no effect on blood lipid
levels.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our sixth
study was conducted by the Applied Biochemistry &amp; Molecular Physiology
Laboratory of University of Oklahoma in 2008. This ten-week placebo-controlled,
randomized and blinded study was conducted on a total of 37 previously sedentary
male subjects. Participants were randomly assigned into groups that consumed
identically tasting treatment beverages with exercise or without
exercise.&#160;&#160;All participants consumed one drink, either placebo or
Celsius, per</font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">20</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div>
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
      <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">day for
10 weeks.&#160;&#160;The exercise groups participated in ten weeks of combined
aerobic and weight training, following the American College of Sports Medicine
guidelines of training for previously sedentary adults. No changes were made to
their diet. The results showed that consuming a single serving of Celsius&#174; prior
to exercising may improve cardiovascular health and fitness and enhance the
positive adaptations of exercise on body composition. Significantly greater
decreases in fat mass and percentage body fat and increases in Vo2 were observed
in the subjects that consumed Celsius before exercise versus those that consumed
the placebo before exercise.&#160;&#160;Mood was not
affected.&#160;&#160;Clinical markers for hepatic, renal, cardiovascular and
immune function, as determined by pre and post blood work revealed no adverse
effects.</font></div>
    </div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Manufacture
and Supply of Our Products</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our beverages are produced by
established third party beverage co-packers. A co-packer is a manufacturing
plant that provides the service of filling bottles or cans for the brand owner.
We believe the benefit of using co-packers is we do not have to invest in the
production facility and can focus our resources on brand development, sales and
marketing. It also allows us produce in multiple locations strategically placed
throughout the country. Currently our products are produced in Memphis,
Tennessee, and Cold Spring, Minnesota. We usually produce about 34,000 cases (24
units per case) of Celsius&#174; in a production run. We purchase most of the
ingredients and all packaging materials. The co-pack facility assembles our
products and charges us a fee by the case. We follow a &#8220;fill as needed&#8221;
manufacturing model to the best of our ability and we have no significant
backlog of orders. The shelf life of Celsius&#174; is specified as 15 to 18
months.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Substantially all of the raw materials
used in the preparation, bottling and packaging of our products are purchased by
us or by our co-packers in accordance with our specifications. Generally, we
obtain the ingredients used in our products from domestic suppliers and some
ingredients have several reliable suppliers. The ingredients in Celsius&#174; include
green tea (EGCG), ginger (from the root), caffeine, B vitamins, vitamin C,
taurine, guarana, chromium, calcium, glucuronolactone, sucralose, natural
flavors and natural colorings. Celsius&#174; is labeled with a supplements facts
panel. We have no major supply contracts with any of our suppliers. We
single-source all our ingredients for purchasing efficiency; however, we have
identified a second source for our critical ingredient and there are many
suppliers of flavors, colorings and sucralose. In case of a supply restriction
or interruption from any of the flavor and coloring suppliers, we would have to
test and qualify other suppliers that may disrupt our production
schedules.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
On-The-Go packets are packed by a facility in Texas that specializes in packing
shots, packets and sticks. Currently our sales volume of packets is
insignificant. As we grow this segment of the business, the existing facility is
capable of substantially increasing the production of our packets. Moreover, we
believe that there are other co-packers available. We use the same or similar
raw materials in the preparation of our On- the-Go
packets as we do for our canned beverages, with most of them purchased by us and
shipped to the co-packer.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Packaging materials, except for our
distinctive sleek 12 ounce aluminum can, are easily available from multiple
sources in the United States; however, due to efficiencies we utilize single
source vendor relationships. There is currently only one factory in the United
States that produces the 12 ounce can. In case of an interruption at that
supplier, we would be forced to change our design and structure of the
can.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We believe that as we grow, we will be
able to keep up with increased production demands. We believe that our current
co-packing arrangement has the capacity to handle increased business we
anticipate in the next 18 months. To the extent that any significant increase in
business requires us to supplement or substitute our current co-packers, we
believe that there are readily available alternatives, so that there would not
be a significant delay or interruption in fulfilling orders and delivery of our
products. In addition, we do not believe that growth will result in any
significant difficulty or delay in obtaining raw materials, ingredients or
finished product.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Marketing</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The key to our marketing strategy is
building consumer brand awareness that drives trial of our
product. </font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As our
distribution has grown from small regional areas to more of a national footprint
with Celsius&#174; being increasingly available at large, well-known retailers, we
have expanded our marketing efforts from local grass roots events to multiple
marketing vehicles having a national focus.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>In September 2009, we launched a
nationwide marketing campaign focused on television, radio, on-line and magazine
advertising.&#160;&#160;Our new campaign features a customized &#8220;Burn Baby Burn&#8221;
song.&#160;&#160;In our television and radio advertising we highlight the health
benefits of Celsius&#174; such as calorie-burning, healthy energy, great taste, as
well as its scientific backing.&#160;&#160;We are broadening the target audience
with mass appeal in an upbeat, positive tone.&#160;&#160;To support our growing
national distribution, our call to action includes a coupon from
burnbabyburn.com.</font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">21</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160; </font></font>

        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We are
currently airing 15 and 30 second television commercials on national cable
stations that appeal to adults in the 25 to 54 age group, including MSNBC,
Bravo, CNBC, Lifetime, TLC, E!, HGTV and Food Network.&#160;&#160;Our radio
campaign is currently heard in over 25 top Celsius&#174; markets, featuring on-air DJ
endorsements of Celsius&#174; and on national satellite radio on the Oprah
network.&#160;&#160;Our national print campaign currently appears in such
publications as <font style="DISPLAY: inline; FONT-STYLE: italic">US
Weekly</font>, <font style="DISPLAY: inline; FONT-STYLE: italic">First for
Women</font>, <font style="DISPLAY: inline; FONT-STYLE: italic">Women&#8217;s
World</font> and <font style="DISPLAY: inline; FONT-STYLE: italic">Women&#8217;s
Health</font>.&#160;&#160;Broadcast and print media are the two largest segments
of our advertising efforts.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
November 2009, we engaged Mario Lopez to be our national celebrity spokesperson.
Mr. Lopez is a well known television personality who hosts the long-running
daily syndicated entertainment program <font style="DISPLAY: inline; FONT-STYLE: italic">Extra</font>. Mr. Lopez has also
appeared on <font style="DISPLAY: inline; FONT-STYLE: italic">Dancing with the
Stars</font> and in a recent Broadway revival of <font style="DISPLAY: inline; FONT-STYLE: italic">A Chorus Line</font>. Mr. Lopez is
also an author and fitness expert, having released his first book, <font style="DISPLAY: inline; FONT-STYLE: italic">Mario Lopez&#8217;s Knockout
Fitness</font>, in May 2008. Mr. Lopez will begin appearing in our planned 2010
marketing campaign. We believe that he is the perfect fit for the demographics
of Celsius&#174; because he is highly appealing to both men and women ages 25 to 54,
our target demographic market.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">addition
to television, radio and magazine advertising, we plan to launch a mobile,
internet and social marketing campaign as soon as we complete the testing
phase.&#160;&#160;This campaign includes our Social Networking Widget which is
cutting edge technology that interacts with customers across all social media
platforms.&#160;&#160;It is a fully functional nanosite or tool for consumers to
get the most up to date information about Celsius&#174;, coupons and local store
locations or product information as well as member only offers.&#160;&#160;The
widget can be shared virally over the internet on social networking sites such
as Twitter or Facebook pages, embedded on a web site or viewed on a mobile
phone.&#160;&#160;It adjusts to the formatting for each type of cell phone.
</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We
support our retail sales by promotion and advertising at both the retailer and
consumer level. We use striking point-of-sale advertising and graphic displays
and from time to time we offer coupons and other promotional pricing. Celsius is
packaged in a distinctive sleek 12 ounce can that uses vivid colors in abstract
patterns designed to create a strong on-shelf impact.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We
utilize an outside advertising agency to coordinate our promotion and
advertising efforts, together with our sales and marketing staff.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We
continue to do some of the grass roots type events that helped us build the
initial brand awareness in areas that we have strong distribution as well as
newer areas as we launch an anchor retailer or new distributor. We also continue
to participate in some of the larger trade conventions such as NACS, NACDS,
IRHSA and Club Industry.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Through
the years we have also won several awards and we continue to participate in
these contests because as we win, we gain even more exposure. Most recently we
were awarded the CSP Retailer Choice award for Best New Product for our Celsius&#174;
Green Tea Raspberry/ACAI. This was presented at the large National Association
of Convenience Stores convention by <font style="DISPLAY: inline; FONT-STYLE: italic">CSP Magazine</font>.
Internationally, we were a finalist in the Beverage Innovation Award for 2009
Best Health Initiative with our On-the-Go packets.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Distribution</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Celsius&#174; is sold across many retail
segments. We group sales to supermarkets, convenience stores, drug stores,
nutritional stores, mass merchants and club warehouses into one retail segment.
We classify health clubs, spas, and gyms as our health and fitness segment.
Vending and internet sales constitute two additional retail segments. We are
focusing our efforts on expanding distribution into each sales segment, with
emphasis on the retail and health and fitness segments.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We distribute our products through
direct-store delivery (DSD) distributors and direct-to-retailer (DTR)
sales.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>DSD Sales</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Historically,
a significant portion of our sales have been generated from sales to DSD
distributors.&#160;&#160;We initially selected this distribution channel as it
allowed us to achieve initial market penetration and start to build brand
awareness, while we refined and enhanced our product line, packaging and
point-of-sale merchandising elements.&#160;&#160;Our DSD distribution network
covers many of the larger U.S. markets including Florida, Atlanta, Michigan, New
England, Ohio and Texas.</font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">22</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font>&#160;We continue to market
to DSD distributors using a number of marketing strategies, including direct
solicitation, trade advertising and trade show exhibition. These distributors
include established distributors of other beverages such as beer, energy drinks,
soft drinks, water and ready to drink teas. Our distributors sell our products
directly to supermarkets, convenience stores, drug stores and mass merchants for
sale to the public. We maintain direct contact with the distributors through our
regional sales managers. In some cases we are party to a contractual arrangement
which grants a distributor the right to sell Celsius&#174; in a defined territory, in
exchange for certain duties and obligations, including commitment to a quarterly
or yearly sales minimum.</font></div>
      <div>&#160;</div>
      <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Through our DSD distributor network,
Celsius&#174; is available in various major retail chains, including Hannafords,
Shaw&#8217;s, Tedeschi, Wegmans and Xtra Mart (Northeast), CVS (New England), Sweetbay
(Florida) and HEB (Texas).</font></div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>DTR Sales</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Using
only a DSD sales strategy limited our growth as we did not have sufficient
distribution coverage to service larger national and regional retailers who
wanted to carry our products.&#160;&#160;Therefore, during 2009, we increased
our focus on DTR sales, marketing directly to national and regional retailers by
hiring an experienced in-house DTR sales team and by utilizing trade shows,
trade advertising, telemarketing, direct mail and direct solicitations. Our DTR
sales professionals make sales calls to and meet with the buyers of these
national and regional retailers. Our strategy is for the retailer to be serviced
by direct delivery to the retailer&#8217;s distribution warehouse or to a wholesaler
that services the whole retail chain.&#160;&#160;We also may be required to pay
slotting allowances to secure competitive shelf space. Our DTR customers into
whose stores we are rolling out our products include Vitamin Shoppe, GNC,
Supervalu, Duane Reade, Albertsons, Rite-Aid and 7-Eleven.&#160;&#160;We made a
test shipment in December 2009 to 285 Costco stores,
and if successful, we plan to make a full launch into all 4 04 of their stores in the United
States and Puerto Rico in March 2010.&#160;&#160;We also have recently &#160;commenced shipping to Walgreen&#8217;s and
CVS on a national basis, covering approximately 14,000 stores in
total.&#160;&#160;Other retailers who became DTR customers during the fourth
quarter of 2009 include Giant, Stop &amp; Shop, Shoprite and Winn Dixie. On December 31, 2009, Celsius&#174; products were
available in approximately 27,000 stores of 22 retailers as compared to
approximately 6,500 stores of 13 retailers at the end of the second quarter of
2009.</font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We also use food brokers to capture
retail chain customers. All food brokers are paid a percentage commission on
delivered product. One of our major food brokers is Crossmark, who is one of the
country&#8217;s three largest food brokers. The use of large food brokers such as
Crossmark, who have significant contacts with larger national and regional
retailers, as well as personnel and systems in place to facilitate the
distribution process cannot only help penetrate these customers, but also reduce
the time it takes for our products to appear on a retailer&#8217;s shelves. In
addition, the speed with which our products appear throughout an entire chain
may be affected by various factors, including regional or store level decisions
or, in the case of retailers such as 7-Eleven which have both company-owned and
franchised stores, determinations by individual franchisees. Accordingly,
Celsius&#174; products may not appear in a given store or group of stores of a
particular DTR customer at any point in time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The DTR
channel, with the assistance of food brokers, has contributed to an increasing
percentage of our sales growth and is expected to be the primary channel for
sales growth for the foreseeable future. We believe this channel affords us
greater and more rapid ability to penetrate nationwide and regional retailers at
lower cost, broader geographic distribution and increased brand
awareness.</font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Other Sales</font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Consumers, smaller retailers and food
service providers are able to purchase Celsius&#174; directly over the Internet from
our website. We have customers that choose this method of purchase and delivery
in all 48 contiguous states. We also sell limited quantities to operators of
vending machines. We are not focused on building these channels, but they help
us build brand awareness in areas that do not have strong distributor or
retailer presence.</font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Growth
Strategy</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our growth strategy is to increase our
share of the functional beverage market by:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">increasing
      brand awareness and emphasizing our combination of nutritional science and
      healthier refreshment in our products through print, broadcast, billboard
      and online marketing;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">expanding
      sales and marketing efforts with a view to increasing the geographic
      markets in which Celsius&#174; is available, particularly through additional
      penetration of the DTR sales
channel;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">extending
      our beverage product line to offer additional flavors and delivery systems
      of Celsius&#174;;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">exploiting
      our MetaPlus&#174; thermogenic formulation to explore the development,
      marketing sale and distribution of complementary products;
    and</font></div>
              </td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9679;</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">seeking
      to expand distribution of our products internationally either directly or
      through licensing agreements with third
parties.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Seasonality
of Sales</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>As is typical in the beverage industry,
sales of our beverages are seasonal, with the highest sales volumes generally
occurring in the second and third fiscal quarters, which correspond to the
warmer months of the year in our major markets.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Competition</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We believe that we are one of the few
calorie-burning beverages whose effectiveness is supported by clinical studies,
which gives us a unique position in the beverage market. However, our products
do compete broadly with all categories of consumer beverages. The beverage
market is highly competitive, and includes international, national, regional and
local producers and distributors, many of whom have greater financial,
management and other resources than us. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
direct competitors in the functional beverage market include, but are not
limited to The Coca-Cola Company, Dr. Pepper Snapple Group, PepsiCo, Inc.,
Nestl&#233;, Waters North America, Inc., Hansen Natural Corp., and Red
Bull.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">While
we believe that we offer a uniquely-positioned, high-quality product which will
be able to compete favorably in this marketplace, the expansion of competitors
in the beverage market, along with the expansion of our competitor&#8217;s products,
may adversely impact our products&#8217; ultimate sales to
distributors and consumers.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proprietary
Rights</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We have registered the Celsius&#174; and
MetaPlus&#174; trademarks with the United States Patent and Trademark Office, as well
as a number of additional trademarks.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We have and will continue to take
appropriate measures, such as entering into confidentiality agreements with our
contract packers and exclusivity agreements with our ingredient suppliers, to
maintain the secrecy and proprietary nature of our MetaPlus&#174; formulation and
product formulas.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We maintain our MetaPlus&#174; formulation
and product formulas as trade secrets. We believe that trade secrecy is a
preferable method of protection for our formulas as patenting them might require
their disclosure. Other than a company that is our outsourced production
manager, no single member of the raw material supply chain or our co-packers has
access to the complete formula.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We consider our trademarks and trade
secrets to be of considerable value and importance to our business. No
successful challenges to our registered trademarks have arisen and we have no
reason to believe that any such challenges will arise in the
future.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Product
Development</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
product development efforts are coordinated by our Vice President of
Innovations, who works closely with our flavor suppliers, co-packers and third
party consultants to explore new flavors, delivery systems and potential product
extensions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Government
Regulation</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The production, distribution and sale
of our products in the United States is subject to the <font style="DISPLAY: inline; FONT-STYLE: italic">Federal Food, Drug and Cosmetic
Act</font>, the <font style="DISPLAY: inline; FONT-STYLE: italic">Dietary
Supplement Health and Education Act of 1994</font>, the <font style="DISPLAY: inline; FONT-STYLE: italic">Occupational Safety and Health
Act</font>, various environmental statutes and various other federal, state and
local statutes and regulations applicable to the production, transportation,
sale, safety, advertising, labeling and ingredients of such products. California
law requires that a specific warning appear on any product that contains a
component listed by California as having been found to cause cancer or birth
defects. The law exposes all food and beverage producers to the possibility of
having to provide warnings on their products because the law recognizes no
generally applicable quantitative thresholds below which a warning is not
required. Consequently, even trace amounts of listed components can expose
affected products to the prospect of warning labels. Products containing listed
substances that occur naturally in the product or that are contributed to the
product solely by a municipal water supply are generally exempt from the warning
requirement. While none of our products are required to display warnings under
this law, we cannot predict whether an important component of any of our
products might be added to the California list in the future. We also are unable
to predict whether or to what extent a warning under this law would have an
impact on costs or sales of our products.</font></div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">24</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Measures have been enacted in various
localities and states that require that a deposit be charged for certain
non-refillable beverage containers. The precise requirements imposed by these
measures vary. Other deposit, recycling or product stewardship proposals have
been introduced in certain states and localities and in Congress, and we
anticipate that similar legislation or regulations may be proposed in the future
at the local, state and federal levels, both in the United States and
elsewhere.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our facilities in the United States are
subject to federal, state and local environmental laws and regulations.
Compliance with these provisions has not had, and we do not expect such
compliance to have, any material adverse effect upon our business, financial
condition and results of operations.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employees</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
February 5, 2010 , we employed a total of 33 employees on a full-time basis. Of our 33 employees , we employ nine
in administrative capacities and 24 persons in sales and marketing
capacities.&#160;&#160;We consider our relations with employees to be good. We
also contract with a number of persons independently, who from time to time will
work for us at events and samplings.</font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Properties</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Our executive offices are located at
140 NE 4th Avenue, Suite C, Delray Beach, FL 33483. We are currently being
provided with space at this location by an unrelated third party, pursuant to a
12 month lease expiring in 2010 for $6,745 per month. We have a separate office
for our sales and marketing personnel in a nearby location. This office is
leased from a principal shareholder for $4,260
monthly until March 2010. During 2010, we plan to consolidate our operations in
a single location.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Company has no warehouses or other
facilities as we store our product at third party contract warehouse
facilities.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Legal
Proceedings</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We are
not presently a party to any legal or regulatory proceedings and have no
knowledge of any pending claim, proceeding or investigation against our company
that could materially affect our company&#8217;s financial condition or results of
operations.</font></div><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">25</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MANAGEMENT&#8217;S
DISCUSSION AND <a name="mda">ANALYSIS OF</a> FINANCIAL CONDITION AND RESULTS OF
OPERATIONS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following is a discussion of our financial condition and results of operations
of our company comparing the fiscal years ended December 31, 2008 and 2007, and
the nine months ended September 30, 2009, and 2008. You should read this section
together with our consolidated financial statements including the related notes
set forth elsewhere in this prospectus. Dollar amounts of $1.0 million or more
are rounded to the nearest one tenth of a million; all other dollar amounts are
rounded to the nearest one thousand and all percentages are stated to the
nearest one tenth of one percent.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Recent
Developments</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 21, 2010, we announced that our fourth quarter 2009 revenues were $2.4
million as compared to $621,000 for fourth quarter 2008 and $1.3 million for
third quarter 2009.&#160;&#160;Our revenues for 2009 were $5.9 million as
compared to $2.6 million for 2008.&#160;&#160;In addition, management announced
that our company is expected to achieve significant revenue growth during 2010.
We are projecting revenues of approximately $25.0 million
in 2010 and believe we will obtain cash flow breakeven by the end of
2010.&#160;&#160;The foregoing revenues and cash flow projections assume
continued ramp up of sales of our products with existing distributors in
accordance with current trends.&#160;&#160;These projections also assume that we
will be able to introduce sales, and thereafter ramp up sales, with additional
distributors with which we have already entered into agreements or with which we
believe we will enter into agreements in the first half of 2010.&#160;&#160;If
we are unable to continue to grow sales with our existing distributors or are
not successful in introducing our products into new distributor locations, we
are unlikely to meet the foregoing projections.&#160;&#160;Based on the
foregoing projections, we believe that the net proceeds of this offering will
enable us to meet our working capital requirements until we become cash flow
positive.&#160;&#160;There can be no assurance that we will be able to grow
sales with existing customers or introduce sales to new customers and if we are
unsuccessful in either case, we will need to raise additional capital in order
to maintain operations.&#160;&#160;Further, there can be no assurance that other
risks related to our business, including those described under the section of
this prospectus entitled &#8220;Risk Factors,&#8221; will not hamper our ability to meet
projections or affect our need to raise additional capital. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Reverse
Stock Split</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
implemented a 1-for-20 reverse stock split on December 23, 2009. Accordingly,
unless otherwise noted, all share and per share data has been adjusted to give
effect to the reverse stock split.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Critical
Accounting Policies and Estimates</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
discussion and analysis of our financial condition and results of operations is
based upon our consolidated financial statements appearing elsewhere in this
prospectus, which have been prepared in accordance with Generally Accepted
Accounting Principles (GAAP). The preparation of these financial statements
requires us to make estimates and judgments that affect the reported amounts of
assets, liabilities, revenues and expenses, and related disclosure of contingent
assets and liabilities. On an on-going basis, we evaluate our estimates
including, among others, those affecting revenues, the allowance for doubtful
accounts, the salability of inventory and the useful lives of tangible and
intangible assets. We base our estimates on historical experience and on various
other assumptions that we believe to be reasonable under the circumstances, the
results of which form our basis for making judgments about the carrying values
of assets and liabilities that are not readily apparent from other sources.
Actual results may differ from these estimates under different assumptions or
conditions, or if management made different judgments or utilized different
estimates. Many of our estimates or judgments are based on anticipated future
events or performance, and as such are forward-looking in nature, and are
subject to many risks and uncertainties, including those discussed below and
elsewhere in this prospectus. We do not undertake any obligation to update or
revise this discussion to reflect any future events or
circumstances.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Although
our significant accounting policies are described in Note 2 of the notes to our
consolidated financial statements appearing elsewhere in this prospectus, the
following discussion is intended to describe those accounting policies and
estimates most critical to the preparation of our consolidated financial
statements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Accounts Receivable</font> &#8211; We
evaluate the collectability of our trade accounts receivable based on a number
of factors. In circumstances where we become aware of a specific customer&#8217;s
inability to meet its financial obligations, a specific reserve for bad debts is
estimated and recorded, which reduces the recognized receivable to the estimated
amount we believe will ultimately be collected. In addition to specific customer
identification of potential bad debts, bad debt charges are recorded based on
our recent past loss history and an overall assessment of past due trade
accounts receivable outstanding.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Revenue Recognition </font>&#8211; Our
products are sold to distributors, wholesalers and retailers for cash or on
credit terms. Our credit terms, which are established in accordance with local
and industry practices, typically require payment within 30 days of delivery. We
recognize revenue when persuasive evidence of an arrangement exists, delivery
has occurred, the sales price is fixed or determinable and collectability is
reasonably assured.<font style="DISPLAY: inline; FONT-WEIGHT: bold"> </font>Any
discounts, sales incentives or similar arrangement with the customer is
estimated at time of sale and deducted from revenue. All sales to distributors
and retailers are final sales and we have a &#8220;no return&#8221; policy; however, in
limited instances, due to credit issues or distributor changes, we may take back
product. We believe that adequate provision has been made for cash discounts,
returns and spoilage based on our company&#8217;s historical experience.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Inventory </font>&#8211; We hold raw
materials and finished goods inventories, which are manufactured and procured
based on our sales forecasts. We value inventory at the lower of cost or market
and include adjustments for estimated obsolescence, principally on a first
in-first out basis. These valuations are subject to customer acceptance and
demand for the particular products, and our estimates of future realizable
values are based on these forecasted demands. We regularly review inventory
detail to determine whether a write-down is necessary. We consider various
factors in making this determination, including recent sales history and
predicted trends, industry market conditions and general economic conditions.
Differences could result in the amount and timing of write-downs for any period
if we make different judgments or use different estimates.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Stock-Based Compensation</font> &#8211;We
use the Black-Scholes-Merton option pricing formula to estimate the fair value
of stock options at the date of grant. The Black-Scholes-Merton option pricing
formula was developed for use in estimating the fair value of traded options
that have no vesting restrictions and are fully transferable. Our employee stock
options, however, have characteristics significantly different from those of
traded options. For example, employee stock options are generally </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">26</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">subject
to vesting restrictions and are generally not transferable. In addition, option
valuation models require the input of highly subjective assumptions, including
the expected stock price volatility, the expected life of an option and the
number of awards ultimately expected to vest. Changes in subjective input
assumptions can materially affect the fair value estimates of an option.
Furthermore, the estimated fair value of an option does not necessarily
represent the value that will ultimately be realized by an employee. We use
historical data of comparable companies to estimate the expected price
volatility, the expected option life and the expected forfeiture rate. The
risk-free rate is based on the U.S. Treasury yield curve in effect at the time
of grant for the estimated life of the option. If actual results are not
consistent with the Company&#8217;s assumptions and judgments used in estimating the
key assumptions, we may be required to increase or decrease compensation expense
or income tax expense, which could be material to its results of
operations.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Recent
Accounting Pronouncements</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, the FASB issued guidance in the Business Combinations Topic of
the Codification. This guidance requires the acquiring entity in a business
combination to record all assets acquired and liabilities assumed at their
respective acquisition-date fair values including contingent consideration. In
addition, this guidance changes the recognition of assets acquired and
liabilities assumed arising from preacquisition contingencies and requires the
expensing of acquisition-related costs as incurred. The guidance applies
prospectively to business combinations for which the acquisition date is on or
after January 1, 2009. We adopted this guidance effective January 1, 2009. Any
impact would be on future acquisitions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2008, the FASB issued guidance in the Intangibles-Goodwill and Other Topic of
the Codification on the determination of the useful life of an intangible asset.
This guidance amends the factors that should be considered in developing renewal
or extension assumptions used to determine the useful life of a recognized
intangible asset. This statement is effective for financial statements issued
for fiscal years beginning after December 15, 2008, and interim periods within
those fiscal years. We adopted this guidance effective January 1, 2009. There is
no impact on our financial statements as of September 30, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2009, the FASB issued guidance in the Fair Value Measurements and Disclosures
Topic of the Codification on determining fair value when the volume and level of
activity for an asset or liability have significantly decreased and identifying
transactions that are not orderly. The guidance emphasizes that even if there
has been a significant decrease in the volume and level of activity, the
objective of a fair value measurement remains the same. Fair value is the price
that would be received to sell an asset or paid to transfer a liability in an
orderly transaction (that is, not a forced liquidation or distressed sale)
between market participants. The guidance provides a number of factors to
consider when evaluating whether there has been a significant decrease in the
volume and level of activity for an asset or liability in relation to normal
market activity. In addition, when transactions or quoted prices are not
considered orderly, adjustments to those prices based on the weight of available
information may be needed to determine the appropriate fair value. The guidance
is effective for interim or annual reporting periods ending after June 15, 2009,
and shall be applied prospectively. We adopted this guidance effective for the
quarter ending June 30, 2009. There is no impact of the adoption on our
financial statements as of September 30, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2009, FASB issued guidance in the Financial Instruments Topic of the
Codification on interim disclosures about fair value of financial instruments.
The guidance requires disclosures about the fair value of financial instruments
for both interim reporting periods, as well as annual reporting periods. The
guidance is effective for all interim and annual reporting periods ending after
June 15, 2009 and shall be applied prospectively. The adoption of this guidance
had no impact on our financial statements as of September 30, 2009, other than
the additional disclosure.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August
2009, the FASB issued Accounting Standards Update No. 2009-05, &#8220;Measuring
Liabilities at Fair Value&#8221; (ASU 2009-05). ASU 2009-05 amends the Fair Value
Measurements and Disclosures Topic of the FASB Accounting Standards Codification
by providing additional guidance clarifying the measurement of liabilities at
fair value. ASU 2009-05 is effective for us for the reporting period ending
December 31, 2009. We do not expect the adoption of ASU 2009-05 to have an
impact on our financial statements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All new
accounting pronouncements issued but not yet effective have been deemed to not
be applicable; hence the adoption of these new standards is not expected to have
a material impact on our results of operations, cash flows or financial
position.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">27</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Results
of Operations</font> </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nine
Months Ended September 30, 2009 Compared to Nine Months Ended September 30,
2008</font> </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Revenue</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales for
the nine months ended September 30, 2009 and 2008 were $3.5 million and $2.0
million, respectively. The increase of 76.8% was due to increased sales both in
DSD and DTR. The largest increase in the first nine months of 2009 comes from
two DSD distributors that had almost no sales in the same period in 2008. We
also sold to new retail chains (in the DTR channel) and had strong increase in
sales from some of our existing customers. Last year we had one large
international order, and this year for the nine month period our total
international orders diminished by $311,000 as compared to the same period last
year.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Gross
profit</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
profit was 42.9% in nine months ended September 30, 2009 as compared to 29.6%
for the same period in 2008. The increase in gross profit was mainly due to
write-off of bottle inventory as described earlier and lower margins on our
export sales during the nine month period in 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Operating
Expenses</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales and
marketing expenses have increased substantially from one year to the next, $5.3
million for the first nine months of 2009 as compared to $2.9 million for the
same nine-month period in 2008, or an increase of $2.4 million. This was mainly
due to increased radio, television and print advertising by $1.3 million, sales
and marketing employee cost by $760,000, offset to a lesser extent by reduced
local events and local marketing of $89,000. The general and administrative
expenses increased from $1.3 million for the nine-month period in 2008 to $1.4
for the same period in 2009, an increase of $105,000. This was mainly due to
increased option expense by $87,000 and increased employee cost of $212,000,
offset to a lesser extent by reduction of allowance for bad debts of $71,000 and
reduced research and development expense of $198,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Other
expense</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The net
interest expense decreased from $292,000 for the first nine months of 2008 to
$106,000, during the same period in 2009, or a decrease of $187,000. This
decrease was mainly due to reduction of amortization of debt discount of
$157,000, incurred when issuing convertible notes, and reduction of interest
paid to third parties, offset to a lesser extent by reduced interest income on
note receivable of $49,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year
Ended December 31, 2008 Compared to Year Ended December 31,
2007</font> </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Revenue</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Revenue
increased 57.5% for the year 2008 to $2.6 million, as compared to $1.6 million
in 2007. The increase was mainly due to increased number of retailers selling
our product, such as Walgreens, CVS, Meijers; new large distributors such as
Farner-Bocken, Polar Beverages and RSI; increases from our existing DTR
customers such as Vitamin Shoppe and Krogers; and to a large export order in the
second quarter of the year, offset to a lesser extent by losses of some
accounts.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Gross
Profit</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
profit was 29.2% of net revenue during the year 2008, as compared to 37.1% in
2007. The decrease is mainly due to the decision to discontinue sales of Celsius
in glass bottles and solely concentrate on cans. We recorded a write down of
inventory due to obsolescence of bottled finished goods and packaging material
of $320,000 in 2008. No such write down occurred in 2007. Without this write
down our gross profit would have been 41.6% in 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Operating
Expenses</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales and
marketing expenses increased to $3.9 million in 2008 as compared to $2.1 million
in 2007, an increase of $1.8 million or 87.4 percent. This increase was mainly
due to increased cost for personnel, $372,000; new local distribution
organization in South Florida, $225,000; increased cost of sampling events and
other local promotion, $882,000; license rights to the song &#8220;Burn Baby Burn&#8221; and
radio advertising increase, $344,000. We have shifted our focus on sales and
marketing expenditure. General and administrative expenses increased to $1.7
million in 2008 as compared to $1.6 million in 2007, an increase of $186,000.
The increase was mainly due to increased cost for issuance of shares to third
parties for services, $86,000; increased product development expenses, $48,000;
increased collection and factoring expenses, $74,000; offset to a lesser extent
by decreased investor relations expenses, $63,000; and decreased insurance
expenses, $59,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
recognized an expense for termination of a consulting agreement in the first
quarter of 2007 of $500,000. Coinciding with the acquisition by reverse merger
of Elite FX, Inc., we issued 1,400,000 shares of common stock, valued at
$250,000, and an interest-free note for $250,000, as consideration for
termination of a consulting agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">28</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Other
Expense</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
expense consists of interest on outstanding loans of $412,000 in 2008 as
compared to $189,000 in 2007. The increase of $223,000 was mainly due to
amortization of debt discounts on convertible notes for a total of $211,000,
increased interest cost on a convertible debenture of $93,000, offset to a
lesser extent by decreased loan balances and renegotiation of interest rates.
Our interest income increased from $8,000 in 2007 to $70,000 in 2008, an
increase of $62,000, due to a note receivable from Golden Gate Investors,
Inc.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Liquidity
and Capital Resources</font> </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
yet to establish any history of profitable operations. As a result, at September
30, 2009, we had an accumulated deficit of $16.7 million. At September 30, 2009,
we had working capital of $70,000. The independent auditor&#8217;s report for the year
ended December 31, 2008, includes an explanatory paragraph to their audit
opinion stating that our recurring losses from operations and working capital
deficiency raise substantial doubt about our ability to continue as a going
concern. We have had operating cash flow deficits all quarters of operations.
Our revenue has not been sufficient to sustain our operations. Our profitability
will require the successful commercialization of our current product
Celsius<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font> and
any future products we develop. No assurances can be given when this will occur
or that we will ever be profitable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We fund
part of our working capital from a line of credit with a related party, CD
Financial, LLC. The line of credit was started in December 2008 and is for $1.0
million. The interest rate is LIBOR rate plus three percent on the outstanding
balance. The line expires in December 2010 and is renewable. In connection with
the revolving line of credit we have entered into a loan and security agreement
under which we have pledged all our assets as security for the line of credit.
The outstanding balance under the line of credit as of September 30, 2009 was
$550,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
borrowed in 2004 and 2005 a total of $500,000 from Lucille Santini, one of our
principal stockholders with interest of a rate variable with the prime rate. In
July 2008, we restructured the agreement and decreased the interest rate to
prime rate flat, monthly payments of $5,000 until a balloon payment of
approximately $606,000 in January 2010. This debt was restructured in September 2009 to a convertible note of $615,000 with
maturity in September 2012. Interest is set at 3% over the one-month LIBOR rate.
The first interest payment is due in September 2010 and quarterly thereafter.
The note can be converted to shares of our common stock. The outstanding balance
under the note, net of debt discount, was $431,000 as of September 30,
2009.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
borrowed $50,000 from the CEO of the Company in February 2006. We also owed the
CEO $171,000 for accrued salaries from 2006 and 2007. The two debts were
restructured in to one note accruing 3% interest, monthly payments of $5,000 and
with a balloon payment of $64,000 in January 2011. The outstanding balance under
the note as of September 30, 2009 was $155,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
terminated a consulting agreement with a company controlled by one of our former
directors. As partial consideration we issued a note payable for $250,000. The
outstanding balance under the note as of September 30, 2009 was
$15,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We issued
in December 2007 a convertible note for $1.5 million and received $250,000 in
cash and a note receivable for $1.3 million.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August
of 2008, we entered into a security purchase agreement with CDS Ventures of
South Florida, LLC, an affiliate of CD Financial, LLC pursuant to which we
received $1.5 million in cash, cancelled two convertible notes issued to CD
Financial, LLC for $500,000. In exchange, we issued to CDS, 100 shares of Series
A preferred stock, and a warrant to purchase additional 50 shares of Series A
preferred stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
December of 2008, we entered into a second security purchase agreement with CDS
Ventures of South Florida, LLC, pursuant to which we received $2.0 million in
cash and issued 100 shares of Series B preferred stock, and a warrant to
purchase additional 100 shares of Series B preferred stock. In March, 2009, CDS
Ventures of South Florida exercised its warrant and purchased an additional 100
shares of Series B preferred stock. During April and May, 2009, we received the
corresponding $2 million in cash. CDS Ventures of South
Florida, LLC converted the shares of Series B preferred stock into common stock
in December 2009. </font> </font>

        <div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2009, we entered into a $6.5 million loan agreement with CDS Ventures
of South Florida, LLC. The loan can be disbursed at $2.0 million per month for
the months of September, October and November and $500,000 in December. The loan
is due in September 2012. Interest is set at 3% over the one-month LIBOR rate.
The first interest payment is due in September 2010 and quarterly thereafter.
The note can be converted to shares of our common stock. The outstanding
balance, net of debt discount, was $1,741,000 as of September 30, 2009. The loan was amended in 2010 whereby the lowest conversion price
was set to $10.20 and the interest rate to 7% over the one-month LIBOR
rate. </font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
entered into a stock purchase agreement with Fusion Capital in June 2007. During
2007, we received $1.4 million in proceeds from sales of 199,440&#160;shares to
Fusion Capital. The agreement with Fusion Capital expired in October 2009,
without us selling any additional shares to Fusion Capital.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">29</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that the net proceeds of this offering, combined with anticipated
revenues from operations, will enable us to fund our operations and
implementation of our business plan over the next 18 months. However, there is
no assurance that our assumptions as to our company&#8217;s capital needs will be
correct and that we will not require additional financing. Moreover, there can
be no assurance that we will be able to secure any such additional financing on
favorable terms or otherwise. The absence of additional financing, when needed,
could cause us to curtail operations and delay implementation of parts of our
business plan and might materially adversely affect us and our
prospects.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table summarizes contractual obligations and borrowings as of December
31, 2008, and the timing and effect that such commitments are expected to have
on our liquidity and capital requirements in future periods (in thousands). We
expect to fund these commitments primarily with raise of debt or equity
capital.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    </div>
    <div style="TEXT-ALIGN: justify">
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="18" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Payments&#160;Due&#160;by&#160;Period</font></div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Contractual</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Obligations</font></div>
              </td>
              <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less&#160;Than</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;1&#160;Year</font></div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1
      to </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3&#160;Years</font></div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3
      to </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5&#160;Years</font></div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">More&#160;Than
      </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5&#160;Years</font></div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt
      to related party</font></div>
              </td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">820</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">120</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">700</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loans
      payable</font></div>
              </td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">196</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">121</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">58</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      debenture</font></div>
              </td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">563</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">563</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchase
      obligations</font></div>
              </td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr bgcolor="#cceeff">
              <td valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
              </td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,579</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">804</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">758</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr></table>
      </div>
    </div>
    <div style="TEXT-ALIGN: justify">&#160;</div>
    <div style="TEXT-ALIGN: justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Securities Purchase Agreement with Golden Gate Investors, Inc.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 19, 2007, we entered into a securities purchase agreement with Golden
Gate Investors, Inc (GGI). The purchase agreement included four tranches of
$1,500,000 each. The first tranche consisted of our 7.75% convertible debenture
issued in exchange for $250,000 in cash and a promissory note for $1,250,000
issued by GGI which was to mature on February 1, 2012. The promissory note
contained a prepayment provision which required GGI to make prepayments of
interest and principal of $250,000 monthly upon satisfaction of certain
conditions. One of the conditions to prepayment was that GGI may immediately
sell all of the common stock issued upon Conversion (as defined in the
debenture) pursuant to Rule 144 of the Securities Act of 1933. We were under no
contractual obligation to ensure that GGI may immediately sell all of the Common
Stock Issued at Conversion (as defined in the debenture) pursuant to Rule 144
under the Securities Act of 1934. In the event that GGI may not immediately sell
all of the Common Stock Issued at Conversion pursuant to Rule 144, GGI would be
under no obligation to prepay the promissory note and likewise under no
obligation to exercise its conversion rights under the debenture. If GGI did not
fully convert the debenture by its maturity on December 19, 2011, the balance of
the debenture was to be offset by any balance due to us under the promissory
note. As of September 30, 2009, the balances of the promissory note and
debenture were $ 0 and $346,000 , respectively. The
balance of the debenture can be converted at any time with a conversion price as
the lower of (i) $20.00, or (ii) 80% of the average of the three lowest daily
volume weighted average price during the 20 trading days prior to GGI&#8217;s election
to convert. We were not required to issue the shares unless a corresponding
payment had been made on the promissory note. GGI converted $ 1.1 million of its convertible debenture through January 2010 receiving 952,696 shares of common
stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GGI did
not make its note payment due on October 21, 2008.&#160;&#160;On September 8,
2009, the Company entered into an addendum to the agreement with GGI. The
balance of the note receivable, $250,000 was netted against the balance of the
debenture. The outstanding balance of the debenture as of September 30, 2009 is
$346,000. All future tranches were cancelled and terminated without penalty to
either party.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of the
date of this prospectus, we owe GGI a total of $36,000, which at current
conversion price can be converted into&#160; 10,638
shares of our common stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
Securities Purchase Agreements with CDS Ventures of South Florida,
LLC</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
8, 2008, we entered into a securities purchase agreement with CDS Ventures of
South Florida, LLC. Pursuant to the agreement, we issued 100 shares of Series A
preferred stock, as well as a warrant to purchase an additional 50 shares of
Series A preferred stock, for a cash payment of $1.5 million and the
cancellation of two notes in aggregate amount of $500,000 issued to CD
Financial, LLC. The shares of Series A preferred stock can be converted into our
common stock at any time. The securities purchase agreement was amended on
December 12, 2008 to provide that until December 31, 2010, the conversion price
is $1.60, after which the conversion price is the greater of $1.60 or 90% of the
volume weighted average price of the common stock for the prior 10 trading days.
Pursuant to the securities purchase agreement, we also entered into a
registration rights agreement, under which we registered the shares of common
stock issuable upon conversion of the Series A preferred stock for resale under
the Securities Act of 1933. The Series A preferred stock accrues ten percent
annual cumulative dividends, payable in additional shares of Series A preferred
stock. We issued 15.1 shares of Series A preferred stock in dividends during
2009, as dividends for the years 2008 and 2009. The
Series A preferred stock matures on February 1, 2013 and is only redeemable in
our common stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">30</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
November 2009, CDS Ventures of South Florida, LLC exercised its right to
purchase an additional 50 shares of Series A Preferred Stock in exchange for
cancellation of a $1.0 million note issued to CD Financial, LLC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 12, 2008, we entered into a second securities purchase agreement with
CDS. Pursuant to this securities purchase agreement, we issued 100 shares of Series B preferred stock, as well as a
warrant to purchase an additional 100 shares of Series B preferred stock, for a
cash payment of $2.0 million. The shares of Series B preferred stock were
convertible into our common stock at any time. Until December 31, 2010, the
conversion price was $1.00, after which the conversion price was the greater of
$1.00 or 90% of the volume weighted average price of the common stock for the
prior 10 trading days. We also granted CDS Ventures of South Florida, LLC
registration rights under the Securities Act of 1933 with respect to the shares
of common stock issuable upon conversion of the Series B preferred
stock.&#160;&#160;The Series Preferred B stock accrued a ten percent annual
cumulative dividend, payable in additional shares of
Series B preferred stock.&#160;We issued 1 share of Series B preferred stock in
dividends during the first quarter of 2009. The Series B preferred stock was
scheduled to mature on December 31, 2013 and was only redeemable in our common
stock.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On March
31, 2009, CDS Ventures of South Florida, LLC exercised its right to purchase an
additional 100 shares of Series B preferred stock and executed a subscription
agreement for $2.0 million. The monies for the subscription were paid on April 7
and May 1, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On
December 23, 2009, CDS Ventures of South Florida, LLC converted all of the
Series B preferred stock (including shares issuable in payment of accrued
dividends) into 4,343,000 shares of common stock.&#160;&#160;We recorded a
liability to CDS Ventures of South Florida, LLC for a $100,000 fee for their
agreement to convert the Series B preferred stock into common stock on an
expedited basis.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> Certain covenants of the Series A preferred stock restrict us
from entering into additional debt arrangements or permitting liens to be
filed against our Company&#8217;s assets, without approval from the holder of the
preferred stock. There is a mandatory redemption in cash, if we breach certain
covenants of the agreements. The holders have liquidation preference of $20,000
per preferred stock in case of a liquidation of our company. We have the right
to redeem the Series A preferred stock early by the payment in cash of 104% of
the liquidation preference value. We may redeem the Series A preferred stock at
any time on or after July 1, 2010.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the securities purchase agreement relating to our Series A preferred stock,
CDS Ventures of South Florida, LLC was given the right to designate two members
to our board of directors. The directors were designated in
August 2008. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
Convertible Loan Agreement with CDS Ventures of South Florida, LLC</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
September 8, 2009, we entered into a convertible loan agreement with CDS
Ventures of South Florida, LLC.&#160;&#160;Under the loan agreement, CDS
Ventures of South Florida, LLC will lend us up to $6,500,000, with disbursements
of the $2,000,000 during each of September, October and November 2009 and
$500,000 in December 2009, provided that no disbursement shall be made in an
amount less than $500,000. Any amounts not requested for disbursement in one
calendar month can be carried over to a subsequent month and disbursed in
addition to the maximum of such subsequent month.&#160;&#160;The loan is due on
September 8, 2012 and carries a variable interest rate equal to 300 basis points
over the one (1) month LIBOR. In January 2010, we agreed to increase the
interest rate to 700 basis points over the one (1) month LIBOR. Commencing on
September 8, 2010 and continuing each three month period thereafter, we will
make payments of all accrued but unpaid interest only on the unpaid principal
amount. The loan can at any time be converted to shares of our common stock at
the Conversion Price. The &#8220;Conversion Price&#8221; was originally based on a price at
$8.00 per share or a market price calculation at the date of conversion. In
order to comply with the listing requirements for the Nasdaq Stock Market, in
January 2010 the parties amended the convertible loan agreement to set the
Conversion Price at $10.20 per share, which was the consolidated closing bid
price of the common stock on the OTC Bulletin Board on the business day prior to
the date the agreement was entered into. As of September 30, 2009, the
outstanding balance of the loan was $1.7 million, net of unamortized debt
discount of $259,000.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the loan agreement, CDS Ventures of South Florida, LLC was
granted certain registration rights under the Securities Act of 1933 with
respect to the shares of common stock issuable upon conversion of the debt under
the loan agreement.&#160;&#160;Further, pursuant to the loan agreement, we
agreed to expand our board of directors to seven members and CDS Ventures of
South Florida, LLC was given the right to designate two additional members of
our board of directors, which were designated in November
and December of 2009. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">31</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
Refinance Agreement with Lucille Santini</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
September 8, 2009, we entered into a convertible loan agreement with Lucille
Santini, a principal shareholder.&#160;&#160;We received advances from Ms.
Santini at various times during 2004 and 2005, totaling $76,000 and $424,000,
respectively. The advances carried interest at a rate variable with the prime
rate.&#160;&#160;In July, 2008, the debt was refinanced, with interest at prime
rate flat and monthly amortization of $5,000. A balloon payment of approximately
$606,000 was due in January 2010. In July, 2009, the debt was refinanced again,
with interest at prime rate flat and monthly amortization of $11,500. A balloon
payment of approximately $451,600 was due in January 2011. This note together
with a cash payment of $3,699 was exchanged for a new note due on September 8,
2012. This note carries a variable interest rate equal to 300 basis points over
the one (1) month LIBOR. Commencing on September 8, 2010 and continuing each
three month period hereafter, we will make payments of all accrued but unpaid
interest only. The loan can at any time be converted to shares of our common
stock at the Conversion Price. The &#8220;Conversion Price&#8221; is: (A) from September 8,
2009 through and including December 31, 2011, equal to the lesser of (i) $8.00
per share, or (ii)&#8221;Market Price&#8221; on the date of conversion ( defined as the average of the ten daily volume weighted average
prices for the ten trading days immediately preceding the date on which a
conversion notice is received by us ); or (B) after December 31, 2011 the
greater of&#160;&#160;(i) $8.00 per share, or (ii) Market Price on the date of
conversion, as appropriately adjusted for in either case stock splits, stock
dividends and similar events; provided, however, that, the Conversion Price
shall never be less than $2.00 regardless of Market Price on the date of
conversion. The maximum number of shares of common stock to be issued based on
the lowest Conversion Price possible is 307,500 shares. As of September 30,
2009, the outstanding balance of the loan was $431,000, net of unamortized debt
discount of $181,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the refinance agreement, was also granted Ms. Santini certain
registration rights under the Securities Act of 1933 with respect to the shares
of common stock issuable upon conversion of the debt.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
Related Party Transactions</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
accrued $171,000 for Stephen Haley&#8217;s salary from March 2006 through May 30,
2007. Mr. Haley, our CEO, also lent us $50,000 in February 2006. The two debts
were restructured in to one note accruing 3% interest, monthly payments of
$5,000 and with a balloon payment of $64,000 in January 2011. The outstanding
balance as of December 31, 2009 was $121,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
former COO lent us $50,000 in February 2008; the loan was repaid in March 2008.
He also purchased in February 2008, 39,063 shares in a private placement for a
total consideration of $75,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jan
Norelid, our former &#160;CFO, lent the Company
$25,000 in February 2008, the loan was repaid in February 2008. He also
purchased in February 2008, 12,255 shares in a private placement for a total
consideration of $25,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Janice
Haley, our Vice President of Strategic Accounts and Business Development,
purchased in February 2008, 12,255 shares in a private placement for a total
consideration of $25,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We rented
in September, 2009, an office from a company affiliated with CD Financial LLC
for $4,260 monthly until February 2010, and thereafter on a month-to-month
basis. The rental fee was commensurate with other properties available in the
market.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">32</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><!--EFPlaceholder-->
<br>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MAN<a name="manage">AGEM</a>ENT</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
Officers and Directors</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
executive officers and directors, their ages and positions, are as
follows:</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Age</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="51%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Position</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stephen
      C. Haley</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">52</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Executive Officer, President and Chairman of the Board of
      Directors</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Geary
      W. Cotton</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">57</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer and director</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jeffrey
      Perlman</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">45</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Operating Officer</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Janice
      Haley</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">48</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President of Strategic Accounts and Business
Development</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">James
      Cast</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">William
      H. Milmoe</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61</font></div>
                </td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thomas
      E. Lynch</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62</font></div>
                </td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="top" width="51%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Richard
      J. Swanson</font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">55</font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="6%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="51%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Christian
      A. Nast</font> </div>
                </td>
                <td valign="top" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="top" width="6%" style="TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;78</font> </td>
                <td valign="top" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="top" width="51%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font> </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Stephen C. Haley</font> is our Chief
Executive Officer, President and Chairman of the board of directors, and has
served in these capacities since January 2007, when we acquired Elite FX, Inc.
Mr. Haley co-founded Elite FX, Inc., in April 2004 and served as its CEO from
its inception until our acquisition of that company.&#160;&#160;From 2001 to
March 2004, Mr. Haley, together with his wife, Janice Haley, invested in
multiple beverage distribution and manufacturing companies. From 1999 to 2001,
he held positions as COO and Chief Business Strategist for MAPICS, a publicly
held, international software company with over 500 employees and $145 million in
revenue. From 1997 to 1999, he was CEO of Pivotpoint, a Boston-based Enterprise
Requirements Planning (ERP) software firm, backed by a venture capital group
which included Goldman Sachs, TA Associates and Greyloc. He holds a BSBA in
Marketing from the University of Florida.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Geary W. Cotton</font> has been a
director of our company since September 2008 and assumed the position of Chief
Financial Officer in January 2010. Mr. Cotton is director of a privately held
insurance industry company, XN Financial. From 1986 to 2000, Mr. Cotton was
Chief Financial Officer of Rexall Sundown, a publicly-held manufacturer of
vitamins and supplements. Mr. Cotton was a director and audit committee chairman
of QEP Co. Inc. from 2002 to May 2006. Mr. Cotton is a retired certified public
accountant with over 30 years of broad business experience in both public
accounting and private industry. Mr. Cotton is a graduate of University of
Florida.</font></font>

          <div>&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Jeffrey Perlman</font> is our Chief
Operating Officer.&#160;&#160;Mr. Perlman joined our company in such capacity in
January 2009. From 2002 to December 2008 Mr. Perlman was President of Community
Ventures Inc., a consulting firm offering business development, public
relations, government relations, strategic planning, publishing and economic
development services. Mr. Perlman is the former mayor of the City of Delray
Beach. Mr. Perlman is also a member of the board of directors of the Business
Development Board of Palm Beach County, the Greater Delray Beach Chamber of
Commerce and several other non-profit organizations. Mr. Perlman holds a BA in
Political Science from the State University of New York, College at
Oswego.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Janice Haley </font>is our Vice
President of Strategic Accounts and Business Development and has served in such
capacity since our acquisition of Elite FX, Inc. in January 2007.&#160;&#160;Ms.
Haley joined Elite FX, Inc., in June 2006 as Vice President of Marketing. From
2001 to June 2006, Ms. Haley, together with her husband Stephen C. Haley, was an
investor in beverage distribution and manufacturing companies. Ms. Haley has
over 20 years management expertise including the software technology industry in
enterprise applications and manufacturing industries specializing in business
strategy, sales and marketing. From 1999 to 2001 she was Director of Corporate
Communications of MAPICS. From 1997 to 1999 she worked as Vice President of
Marketing of Pivotpoint. Ms. Haley holds a BSBA in Marketing from University of
Florida.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="center">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">33</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">James Cast</font> has been a director
of our company in January 2007.&#160;&#160;Mr. Cast is a certified public
accountant and is the owner of an Accounting firm in Ft. Lauderdale, Florida,
which specializes in tax and business consulting. Prior to forming his firm in
1994, Mr. Cast was senior tax Partner-in-Charge of KPMG Peat Marwick&#8217;s South
Florida tax practice. During his 22 years at KPMG Peat Marwick he also served
the South Florida coordinator for all mergers, acquisitions, and business
valuations. He is a member of AICPA and FICPA. He currently is a member of the
board of directors of the Covenant House of Florida. He has a BA from Austin
College and a MBA from the Wharton School at the University of
Pennsylvania.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">William Milmoe</font> has been a
director of our company since August 2008. Since January 2006, Mr. Milmoe has
served as President and Chief Financial Officer of CDS International Holdings,
Inc., a private investment firm.&#160;&#160;From 1997 to January 2006, he was
CDS International Holdings, Inc.&#8217;s Chief Financial Officer and
Treasurer.&#160;&#160;Mr. Milmoe is a certified public accountant with over 40
years of broad business experience in both public accounting and private
industry. His financial career has included positions with
PricewaterhouseCoopers, General Cinema Corporation, an independent bottler of
Pepsi Cola products and movie exhibitor.&#160;&#160;Mr. Milmoe is member of both
the Florida and the American Institute of Certified Public
Accountants.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Thomas Lynch</font> became a director
of our company in November 2009. Mr. Lynch has been President of the Plastridge
Insurance Agency, a local independent agency, since 1975.&#160;&#160;He has been
a director of 1<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st</font>
United Bank since 2004 and on the Board of Governors for Citizens Property &amp;
Casualty Insurance since February 2009.&#160;&#160;He is also on the board of
many charitable organizations and has served as an elected official for many
government entities over the past twenty years. Mr. Lynch is a graduate of
Loyola University in Chicago. He received his CPCU degree in 1978 from the
American Institute for Property &amp; Liability Underwriters.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Richard Swanson</font> has been a
director of our company since December 2009. Mr. Swanson has been a principal of
the Swanson Group, a consumer products sales and marketing firm since 1998. Mr.
Swanson is serving his second term as a member of the National Association of
Chain Drug Stores Retail Advisory Board &#160;and currently functioning on its
steering committee. Mr. Swanson has been a senior executive within the consumer
products industry for 31 years and held positions with Procter &amp; Gamble and
Confab Corporation prior to forming his own sales and marketing firm in 1998.
Mr. Swanson is a graduate of the University of Illinois.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Christian A. Nast</font> has been a
director of our company since January 2010.&#160;&#160;Mr. Nast was CEO of
Rexall Sundown, a publicly-held manufacturer of vitamins and supplements, from
1997 until his retirement in 2000. From 1995 to 1997,&#160;he was&#160;Rexall
Sudown's&#160;President and COO. Mr. Nast was executive vice president for
Colgate North America from 1989 until 1995. Mr. Nast was a director of QEP Co.
Inc. from 1998 to July 2006 and of The Tilton School from 2002 until May of
2007. Nast earned a BA in Economics from Bates College and an MBA from New York
University.&#160;&#160;He retired from the United States Marine Corps as a
Major.</font> </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Janice
Haley is Stephen C. Haley&#8217;s spouse.&#160;&#160;There are no other family
relationships among our executive officers and directors.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the securities purchase agreement relating to the
Series A preferred stock, CDS Ventures of South Florida, LLC was granted the
right to designate two members of our five member board of
directors.&#160;&#160;Messrs. Milmoe and Cotton are currently the designees of
CDS Ventures of South Florida, LLC on our board of directors pursuant to this
agreement. In connection with the loan agreement entered into with CDS Ventures
of South Florida, LLC in September 2009, we agreed to expand our board of
directors to seven persons and CDS Ventures of South Florida, LLC was granted
the right to designate two additional directors or a majority of our board of
directors. Messrs. Lynch and Swanson are its two additional
designees.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Compensation
of Directors</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
bylaws provide that, unless otherwise restricted by our certificate of
incorporation, our board of directors has the authority to fix the compensation
of directors.&#160;&#160;The directors may be paid their expenses, if any,
related to attendance at each meeting of the board of directors and may be paid
a fixed sum for attendance at each meeting of the board of directors or a stated
salary as our director.&#160;&#160;Our bylaws further provide that no such
payment will preclude any director from serving our company in any other
capacity and receiving compensation therefore.&#160;&#160;Further, members of
special or standing committees may be given compensation for attending committee
meetings.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effective
January 18, 2007, non-employee directors received cash fees of $4,000 per
year.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effective
January 1, 2010, the annual cash fee for outside directors is
$12,000.&#160;&#160;In addition, members of the audit committee receive an
additional annual cash fee of $2,000 and the chairman of the audit committee
receives $2,000 for serving in such capacity.&#160;&#160;Members of the
compensation and nominating and corporate governance committees receive an
additional cash fee of $1,000.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
addition to the foregoing, each new member of the board of directors will
receive stock options under our Amended 2006 Stock Incentive Plan to purchase
10,000 shares of our common stock upon joining the board of directors and each
director will receive stock options to purchase 2,500 shares of our common stock
upon the completion of each year of service.&#160;&#160;The exercise price of
the stock options will be the fair market value of our common stock as of the
date of grant.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="center">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">34</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
          </div>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Terms
of Directors and Executive Officers</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">All of
our directors serve until the next annual meeting of shareholders and until
their successors are elected by shareholders and qualified, or until their
earlier death, retirement, resignation or removal.&#160;&#160;Currently, our
board of directors consists of seven persons, four of whom will be designated by
CDS Ventures of South Florida, LLC.&#160;&#160;Our bylaws authorized the board
of directors to designate from among its members one or more committees and
alternate members thereof, as they deem desirable, each consisting of one or
more of the directors, with such powers and authority (to the extent permitted
by law and these bylaws) as may be provided in such
resolution.&#160;&#160;Executive officers serve at the pleasure of the board of
directors.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Board
Committees and Independence</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
November 2009, our board of directors established three committees, an audit
committee, a compensation committee and a nominating and corporate governance
committee. The audit committee currently consists of Messrs. Cast, Nast and Lynch, the compensation committee currently
consists of Messrs. Cast, Nast and Milmoe and the
nominating and corporate governance committee currently consists of Messrs.
Milmoe, Nast and Cast.&#160;&#160;&#160;Our board of
directors has determined that each of Messrs. Cast, Nast, Lynch and Milmoe is &#8220;independent&#8221; within the meaning
of the applicable rules and regulations of the Securities and Exchange
Commission and the listing standards of the Nasdaq Stock Market.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
addition, we believe each of Messrs. Cast, Nast,
Milmoe and Lynch qualifies an &#8220;audit committee financial expert&#8221; as the term is
defined by the applicable rules and regulations of the Securities and Exchange
Commission and the Nasdaq Stock Market listing standards, based on their
respective business professional experience in the financial and accounting
fields.&#160;&#160;At the time of the listing of our common stock on the Nasdaq
Stock <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> Market, we </font>will be required to certify to the
Nasdaq Stock Market, that our audit committee has, and will continue to have, at
least one member who has past employment experience in finance or accounting,
requisite professional certification in accounting, or other comparable
experience or background that results in the individual&#8217;s financial
sophistication.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Audit
Committee</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The audit
committee assists our board of directors in its oversight of the company&#8217;s
accounting and financial reporting processes and the audits of the company&#8217;s
financial statements, including (i) the quality and integrity of the company&#8217;s
financial statements, (ii) the company&#8217;s compliance with legal and regulatory
requirements, (iii) the independent auditors&#8217; qualifications and independence
and (iv) the performance of our company&#8217;s internal audit functions and
independent auditors, as well as other matters which may come before it as
directed by the board of directors.&#160;&#160;Further, the audit committee, to
the extent it deems necessary or appropriate, among its several other
responsibilities, shall:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">be
      responsible for the appointment, compensation, retention, termination and
      oversight of the work of any independent auditor engaged for the purpose
      of preparing or issuing an audit report or performing other audit, review
      or attest services for our company;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">discuss
      the annual audited financial statements and the quarterly unaudited
      financial statements with management and the independent auditor prior to
      their filing with the Securities and Exchange Commission in our Annual
      Report on Form 10-K and Quarterly Reports on Form
  10-Q;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">review
      with the company&#8217;s financial management on a period basis (a) issues
      regarding accounting principles and financial statement presentations,
      including any significant changes in our company&#8217;s selection or
      application of accounting principles, and (b) the effect of any regulatory
      and accounting initiatives, as well as off-balance sheet structures, on
      the financial statements of our
company;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">monitor
      our company&#8217;s policies for compliance with federal, state, local and
      foreign laws and regulations and our company&#8217;s policies on corporate
      conduct;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">maintain
      open, continuing and direct communication between the board of directors,
      the audit committee and our independent auditors;
  and</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">monitor
      our compliance with legal and regulatory requirements and shall have the
      authority to initiate any special investigations of conflicts of interest,
      and compliance with federal, state and local laws and regulations,
      including the Foreign Corrupt Practices Act, as may be
      warranted.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Mr. Cast
is the chairman of our audit committee.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Compensation
Committee</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
compensation committee aids our board of directors in meeting its
responsibilities relating to the compensation of our company&#8217;s executive
officers and to administer all incentive compensation plans and equity-based
plans of the company, including the plans under which company securities may be
acquired by directors, executive officers, employees and
consultants.&#160;&#160;Further, the compensation committee, to the extent it
deems necessary or appropriate, among its several other responsibilities,
shall:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="center">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">35</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">review
      periodically our company&#8217;s philosophy regarding executive compensation to
      (i) ensure the attraction and retention of corporate officers; (ii) ensure
      the motivation of corporate officers to achieve our company&#8217;s business
      objectives, and (iii) align the interests of key management with the
      long-term interests of our company&#8217;s
  shareholders;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">review
      and approve corporate goals and objectives relating to Chief Executive
      Officer compensation and other executive officers of our
      company;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">make
      recommendations to the board of directors regarding compensation for
      non-employee directors, and review periodically non-employee director
      compensation in relation to other comparable companies and in light of
      such factors as the compensation committee may deem appropriate;
      and</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">review
      periodically reports from management regarding funding our company&#8217;s
      pension, retirement, long-term disability and other management welfare and
      benefit plans.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Mr.&#160;Milmoe
is the chairman of our compensation committee.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nominating
and Corporate Governance Committee</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
nominating and corporate governance committee recommends to the board of
directors individuals qualified to serve as directors and on committees of the
board of directors to advise the board of directors with respect to the board of
directors composition, procedures and committees to develop and recommend to the
board of directors a set of corporate governance principles applicable to our
company; and to oversee the evaluation of the board of directors and our
company&#8217;s management.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Further,
the nominating and corporate governance committee, to the extent it deems
necessary or appropriate, among its several other responsibilities
shall:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">recommend
      to the board of directors and for approval by a majority of independent
      directors for election by shareholders or appointment by the board of
      directors as the case may be, pursuant to our bylaws and consistent with
      the board of director&#8217;s evidence for selecting new
    directors;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">review
      the suitability for continued service as a director of each member of the
      board of directors when his or her term expires or when he or she has a
      significant change in status;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">review
      annually the composition of the board of directors and to review
      periodically the size of the board of
directors;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">make
      recommendations on the frequency and structure of board of directors
      meetings or any other aspect of procedures of the board of
      directors;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">make
      recommendations regarding the chairmanship and composition of standing
      committees and monitor their
functions;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">review
      annually committee assignments and
  chairmanships;</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">recommend
      the establishment of special committees as may be necessary or desirable
      from time to time; and</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="TEXT-ALIGN: justify">
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
                <td align="right" style="WIDTH: 75pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">develop
      and review periodically corporate governance procedures and consider any
      other corporate governance issue.</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 40pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Mr.
Milmoe is the chairman of our nominating and corporate governance
committee.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Code
of Ethics</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We have
adopted a code of ethics that applies to all of our executive officers,
directors and employees. The code of ethics codifies the business and ethical
principles that govern all aspects of our business.&#160;&#160;This document
will be made available in print, free of charge, to any shareholder requesting a
copy in writing from our Secretary at our executive offices in Delray Beach,
Florida.&#160;&#160;A copy of our code of ethics is available on our website at
<font style="DISPLAY: inline; TEXT-DECORATION: underline">www.celsius.com</font>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="center">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">36</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXECUTIVE
C<a name="excomp"><!--EFPlaceholder-->
 OMPENS</a>ATION</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Summary
Executive Compensation Table</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
following table sets forth certain information concerning the compensation paid
to our Chief Executive Officer, Chief Financial Officer and our two other most
highly compensated executive officers who earned at least $100,000 during the
periods described below.&#160;&#160;No other executive officer had compensation
of $100,000 or more for the periods described below.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
          <div>
            <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td align="left" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name
      &amp; Principal Position</font> </div>
                  </td>
                  <td valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Salary</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bonus</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Awards</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Option
      Awards</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incentive</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Plan</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Compensation</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Qualified</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deferred</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Compensation</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Earnings</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">All&#160;</font> </div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      (1) Compen-sation</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td colspan="2" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Compen-sation</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stephen
      C. Haley,</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">159,877</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">245,377</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">405,254</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">President,
      CEO and</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">141,231</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">141,231</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -0.05pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chairman
      of the Board</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">93,877</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24,769</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51,000</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">169,646</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="5%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="4%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="5%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="9%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="9%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="7%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jan
      A. Norelid,</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">159,877</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">245,377</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,478</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">405,254</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CFO
      (2)</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">141,092</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">62,120</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,200</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">210,412</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">135,831</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25,000</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,271</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,985</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">186,087</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="5%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="4%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="5%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="9%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="9%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="7%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jeffrey
      Perlman,</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">141,231</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">518,428</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">659,656</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">COO</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="5%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="5%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="9%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="9%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="7%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="6%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Janice
      H. Haley,</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">123,615</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">122,688</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">246,303</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vice
      President</font> </div>
                  </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">98,077</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,256</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">115,333</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">103,846</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="4%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="5%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">33,025</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 9.85pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="9%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 13.3pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td valign="bottom" width="7%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                  <td align="left" valign="bottom" width="1%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="6%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">136,871</font> </div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                </tr></table>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
          <div>
            <div align="left">&#160;</div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
          <div>
            <div>
              <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                    <td align="right" style="WIDTH: 18pt">
                      <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)&#160;&#160;</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">From
      March 2006 through part of May 2007 the Company accrued Mr. Haley&#8217;s salary
      and $120,000 have still not paid it, the accrued amounts are shown under
      All Other Compensation as $51,000 for 2007.</font> </div>
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> Mr. Norelid received $7,478, $7,200 and
      $4,985 in health insurance reimbursement, for 2009, 2008 and 2007,
      respectively. </div>
                      </div>
                    </td>
                  </tr></table>
            </div>
            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            <div>
              <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                    <td align="right" style="WIDTH: 18pt">
                      <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2)&#160;&#160;</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Mr.
      Norelid stepped down as an executive officer and director or our company
      in January 2010.</font></div>
                    </td>
                  </tr></table>
            </div>
            <div>&#160;</div>
          </div>
        </div>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Director
Compensation</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table sets forth with respect to the named director, compensation
information inclusive of equity awards and payments made in the year ended
December 31, 2009: </font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">37</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fees
      earned&#160;or paid in cash</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Awards</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Option
      Awards</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Equity
      Incentive&#160;Plan Compen</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">sation</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Non-Qualified
      Deferred Compen-sation Earnings</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">All
      Other Compen-sation</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Compen-sation</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">James
      R. Cast (1) (2)</font> </div>
              </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,000</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23,096</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27,096</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">William
      H Milmoe (1)(3)</font> </div>
              </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,000</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92,384</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96,384</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Geary
      W. Cotton (1)(3)</font> </div>
              </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,000</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">92,384</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">96,384</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="white">
              <td align="left" valign="bottom" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thomas
      E. Lynch (4)</font> </div>
              </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61,100</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61,100</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Richard
      J. Swanson (5)</font> </div>
              </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42,364</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42,364</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)&#160;&#160;</font> </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      compensation to non-employee directors through December 31, 2009 was set
      at $4,000 annually. The fee of $4,000 for the year of service ended in
      January 2009 was paid to the directors in
  2010.</font> </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2)&#160;&#160;</font> </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Represents
      options to purchase 2,500 shares of common stock issued to Mr.
      Cast&#160;&#160;in August 2009 at an exercise price equal to $10.80 per
      share.</font> </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3)&#160;&#160;</font> </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Represents
      options to purchase 10,000 shares of common stock issued to Mr. Milmoe and
      Mr. Cotton in August 2009 at an exercise price equal to $10.80 per
      share</font> </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4)&#160;&#160;</font> </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Represents
      options to purchase 10,000 shares of common stock issued to Mr.
      Lynch&#160;&#160;in November 2009 at an exercise price equal to $7.20 per
      share</font> </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5)&#160;&#160;</font> </div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Represents
      options to purchase 10,000 shares of common stock issued to Mr.
      Swanson&#160;&#160;in December 2009 at an exercise price equal to $5.06
      per share</font> </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
Agreements</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We are
party to an employment agreement with Stephen C. Haley, our
Chief Executive Officer and Chairman of the Board , which expires on
December 31, 2011. </font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
agreement with Mr. Haley provides for a base annual salary of $165,000 and a
discretionary annual bonus. Mr. Haley is entitled to severance benefits if his
employment is terminated upon his death or by us other than for cause. These
severance benefits include (a) a lump sum payment in the event of his death
equal to his annual base salary plus the annualized amount of incentive
compensation paid Mr. Haley most recently multiplied by the term remaining in
his employment agreement and (b) a lump sum payment in the event of a
termination other than for cause equal to his annual base salary plus the
annualized amount of incentive compensation paid Mr. Haley most recently
multiplied by the greater of the term remaining in his employment agreement or
one year, and a continuation of all other benefits through for the greater of
the term remaining in his employment agreement or one year. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">If Mr.
Haley terminates his employment for reasons other than our breach of the
agreement or if we terminate the agreement for cause, Mr. Haley will not be
entitled to severance benefits.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
also party to employment agreement with Janice Haley, our Vice President,
provides for a base annual salary of $120,000 and an annual discretionary bonus.
This agreement expires December 31, 2010. If Ms. Haley&#8217;s employment agreement is
terminated other than for cause she is entitled to severance benefits equal to
one twelfth of the sum of her then current annual base salary plus the
annualized amount of incentive compensation paid to her within the last year
before the date of termination, multiplied by the greater of (i) the number of
full and partial months remaining in the term of the agreement or (ii) three
months.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If after
a change of control, excluding control by CD Financial, LLC and/or its
affiliates, either&#160;Mr. Harley or Ms.
Haley &#160;terminates their respective employment agreement, then a
severance benefit is due to the employee. The severance benefits consist of a
lump sum payment equal to his or her annual base salary plus the annualized
amount of incentive compensation multiplied by two years, in the case of Mr. Haley , and the greater of six months or the remaining
employment agreement term in the case of Ms. Haley.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On
January 5, 2009 we entered into an employment
agreement with Jeffrey Perlman, our Chief Operating Officer. It provides for a
base annual salary of $144,000, and an annual discretionary bonus. If Mr.
Perlman&#8217;s employment agreement is terminated other than for cause, he is
entitled to severance in an amount equal to his then current annual base salary
plus the annualized amount of incentive compensation paid to him within the last
year before the termination date, multiplied by the number of full and partial
years remaining in the term of the agreement.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bonus
plans have not yet been established by the board of directors or the
compensation committee, but may contain items such as goals to achieve certain
revenue, to reduce cost of production, to achieve certain gross margin, to
achieve financing and similar criteria.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">These
employment agreements may be terminated by us for cause, which includes the
executive committing an act or an omission resulting in a willful and material
breach of or failure or refusal to perform his or her duties, committing fraud,
embezzlement, misappropriation of funds or breach of trust in connection with
his or her services, conviction of any crime which
involves dishonesty or breach of trust, or acts of gross negligence in the
performance of his or her duties (provided that we give the executive notice of
the basis for the termination and an opportunity for 15 days to cease committing
the alleged conduct) or violation of the confidentiality or non-competition
requirements of the employment agreement.</font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">38</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Under the
terms of each of the employment agreements, during
the term of employment and during the severance period, but in no event not less
than one year, after termination of employment, none of Messrs. Haley
or&#160;Norelid or Ms. Haley may own, manage or work for, directly or work for,
a&#160;competitive business in any geographic region in which&#160;&#160;we
conduct business.&#160; A competitive business is the manufacturing, export,
sale or distribution of calorie-burning beverages and
supplements.&#160;&#160;The&#160;post-employment&#160;noncompete period&#160;for
an employee can be extended by an additional year if&#160;we pay the employee an
amount equal to 30% of his or her last annual base salary and
bonuses.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
compensation package for Geary W. Cotton, who became our Chief Financial Officer
in January 2010, will consist of a base salary of $120,000 and a grant under our
Amended 2006 Stock Incentive Plan of options to
purchase 150,000 shares of common stock at an exercise price of $4.25 per share,
vesting over a three-year period.&#160;&#160;It is anticipated that we will
enter into an employment agreement with Mr. Cotton setting forth these terms, as
well as severance, change in control and non-competition provisions comparable
to those contained in the employment agreements with Mr. Haley.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
January 2010, Jan Norelid, who had served as our Chief Financial Officer and a
director since January 2007, stepped down from those positions.&#160;&#160;Mr.
Norelid will remain with the Company for a period of between three and six
months to assist Geary W. Cotton, who became our Chief Financial Officer in
January 2010.&#160;&#160;Mr. Norelid will be owed approximately $340,000 in
severance pursuant to the terms of his employment.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding
Equity Awards at Fiscal Year-End</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
following table sets forth information with respect to stock awards and grants
of options to purchase our common stock outstanding to the named executive
officers at December 31, 2009. </font></div>
    </div>
    <div>&#160;</div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td align="left" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name</font> </div>
              </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="16" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Option
      awards</font></font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="14" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Stock
      awards</font></font> </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr>
              <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number
      of securities under-lying unexer-cised options</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">#</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercisable</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number
      of securities under-lying unexer-cised options</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">#</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Unexercisable</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity
      incentive</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;plan</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">awards:
      Number of securities under-lying unexer-cised unearned</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">options</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(#)</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Option
      exercise</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">price</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">($)</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> &#160; </font>

                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Option
      expiration</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">date</font> </div>
              </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number&#160;of
      shares or units of stock that have not</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">vested</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(#)</font> </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> Market value of shares of units of stock that have not
      </font>

                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">vested</font> </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">($)</font> </div>
                </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity
      incentive&#160;</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">plan
      awards: Number of unearned shares, units or other rights that
      have</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">not
      vested (#)</font> </div>
                </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Equity</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;incentive
      plan awards: Market or payout</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">value
      of unearned shares, units or other rights that have</font> </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">not
      vested</font> </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">($)</font> </div>
                </div>
              </td>
              <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr>
              <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr>
              <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stephen
      C. Haley, CEO</font> </div>
              </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25,000</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.80</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="8%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8/7/2019</font> </div>
              </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="white">
              <td valign="bottom" width="12%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="8%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jan
      A. Norelid, CFO(2)</font> </div>
              </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">25,000</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.80</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="8%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8/7/2019</font> </div>
              </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="white">
              <td valign="bottom" width="12%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="8%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jeffrey
      Perlman, COO (3)</font> </div>
              </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100,000</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td colspan="2" valign="bottom" style="TEXT-ALIGN: right">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">various</font> </div>
              </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: center">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">various</font> </div>
              </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="white">
              <td valign="bottom" width="12%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="8%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
            </tr><tr bgcolor="#cceeff">
              <td align="left" valign="bottom" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Janice
      H. Haley, VP</font> </div>
              </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,500</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.80</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="8%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8/7/2019</font> </div>
              </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div>
          <div>
            <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                  <td align="right" style="WIDTH: 36pt">
                    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)&#160;&#160;</font></div>
                  </td>
                  <td>
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Adjusted
      to give effect to our 1-for-20 reverse stock split implemented in December 2009 . All grants are under
      our Amended 2006 Stock Incentive
Plan.</font></div>
                  </td>
                </tr></table>
          </div>
          <div>
            <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                  <td align="right" style="WIDTH: 36pt">
                    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)&#160;&#160;</font></div>
                  </td>
                  <td>
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Norelid stepped down as an executive officer and director of our company
      in January 2010.</font></div>
                  </td>
                </tr></table>
          </div>
          <div>
            <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                  <td align="right" style="WIDTH: 36pt">
                    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)&#160;&#160;</font></div>
                  </td>
                  <td>
                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Mr.
      Perlman was granted 50,000 options with an exercise price of $0.86 in
      January 2009 and 50,000 options with an exercise price of $10.80 in August
      2009, both of which expire 10 years after
  issuance.</font> </div>
                  </td>
                </tr></table>
          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">I n January 2010, options to purchase 150,000 shares of our common
stock were granted to Geary W. Cotton, upon his assuming the position of Chief
Financial Officer of our company, and options to purchase 15,000 shares of our
common stock were granted to Jan Norelid as part of his separation
agreement.&#160;&#160;The exercise price of such options is $4.25 per
share. </font></div>
            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amended
2006 Incentive Stock Plan</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
January 2007, we adopted our 2006 Incentive Stock Plan, which was amended in
July 2009 The Amended 2006 Incentive Stock Plan provides for equity incentives
to be granted to our employees, officers or directors or to key advisers or
consultants. Equity incentives may be in the form of stock options with an
exercise price not less than the fair market value of the underlying shares as
determined pursuant to the Amended 2006 Incentive Stock Plan, stock appreciation
rights, restricted stock awards, stock bonus awards, other stock-based awards,
or any combination of the foregoing. The Amended 2006 Incentive Stock Plan is
administered by the compensation committee of the board of directors. In the
absence of such committee, the board of directors administers the plan.
2,500,000 shares of common stock are reserved for issuance pursuant to the
exercise of awards under the Amended 2006 Incentive Stock Plan.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">39</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PRINCIPAL
SHA<a name="princpal"><!--EFPlaceholder-->
 REHOLD</a>ERS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table sets forth information with respect to the beneficial ownership
of our common stock as of February 5, 2010 and as adjusted
for this offering for :</font></font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td align="left" valign="top" width="6%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font></div>
              </td>
              <td align="left" valign="top" width="75%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">each
      of our executive officers and directors; &#160;</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="6%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font></div>
              </td>
              <td align="left" valign="top" width="75%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">all
      of our executive officers and directors as a group; and</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="6%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font></div>
              </td>
              <td align="left" valign="top" width="75%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Any
      other beneficial owner of more than five percent (5%) of our outstanding
      common stock.</font></div>
              </td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div>
        <div>
          <div align="center">
            <table cellpadding="0" cellspacing="0" width="75%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td align="left" rowspan="2" valign="bottom" width="50%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name
      and Address of Beneficial Owner(1)</font> </div>
                  </td>
                  <td rowspan="2" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td colspan="2" rowspan="2" valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares
      Beneficially Owned (2)(3) Number</font> </div>
                  </td>
                  <td nowrap rowspan="2" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td colspan="7" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Percentage
      of Voting Power (2)(3)</font> </div>
                  </td>
                </tr><tr>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td colspan="3" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Before
      Offering</font> </div>
                  </td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td colspan="3" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">After
      Offering</font> </div>
                  </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Carl
      DeSantis (4)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,607,581</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.6
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41.5
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">William
      H. Milmoe (5)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,605,581</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.6
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41.5
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CD
      Financial, LLC (6)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,602,581</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">51.6
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41.5
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CDS
      Ventures of South Florida, LLC (7)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,043,380</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">47.8
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">38.4
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stephen
      C. Haley (8)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,437,541</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11.8
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.1
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lucille
      Santini&#160;&#160;(9)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,051,953</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.6
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.7
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Joseph
      &amp; Gionis LLC</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">850,000</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.9
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.3
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Janice
      Haley (10)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">158,480</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.3
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.0
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Jeffrey
      Perlman (11)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16,667</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">James
      Cast (12)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,998</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.2
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.1
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Geary
      Cotton (13)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,500</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.0
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.0
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thomas
      Lynch</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Richard
      Swanson</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="white">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">All
      executive officers and directors as a</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9,239,767</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">61.5
      </font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">49.6</font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font> </td>
                </tr><tr bgcolor="#cceeff">
                  <td align="left" valign="bottom" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">group
      (8 persons) (14)</font> </div>
                  </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="17%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                  <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr></table>
          </div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">________________&#160;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1)</font></div>
                </td>
                <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unless
      otherwise noted in the table above, the address of each beneficial owner
      listed on the table is c/o Celsius Holdings, Inc., 140 NE 4th Avenue,
      Suite C, Delray Beach, FL 33483.</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2)</font></div>
                </td>
                <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Based
      on 12,029,519 shares of common stock
      outstanding as of February 5, 2010, and 15,659,519
      shares outstanding after this offering , together with shares of
      common stock issuable upon exercise or conversion of warrants, stock
      options and convertible securities, which are presently exercisable or
      convertible or which become exercisable or convertible within 60 days of
      the date of this prospectus, for each shareholder. Beneficial ownership is
      determined in accordance with the rules of the Securities and Exchange
      Commission and generally includes voting or investment power with respect
      to securities. Shares of common stock are deemed to be beneficially owned
      by the person holding such securities for the purpose of computing the
      percentage of ownership of such person, but are not treated as outstanding
      for the purpose of computing the percentage ownership of any other
      person.</font></div>
                  </div>
                </td>
              </tr><tr>
                <td align="left" valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3)</font></div>
                </td>
                <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares
      of our Series A preferred stock vote on an &#8220;as converted&#8221; basis together
      with our common stock on all matters presented for a shareholder vote,
      except as required by Nevada law. As of the date of this prospectus,
      2,063,125 shares of our common stock are issuable upon conversion of our
      outstanding shares of Series A preferred stock.</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="top" width="5%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4)</font></div>
                </td>
                <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      (a) 4,343,000 shares of common stock held or recorded by CDS Ventures of
      South Florida, LLC, which shares were issued upon conversion of our Series
      B preferred stock; (b) 5,000 shares of common stock held at record by Mr.
      DeSantis, (c) 559,201 shares of common stock held of record by CD
      Financial, LLC, (d) 2,063,125 shares of common stock issuable upon
      conversion of shares of Series A preferred stock held of record by CDS
      Ventures of South Florida, LLC, and (e) 637,255 shares of common stock
      issuable upon conversion of a $6.5 million convertible promissory note
      held of record by CDS Ventures of South Florida, LLC. Voting power of
      shares of common stock beneficially owned by CD Financial, LLC and CDS
      Ventures of South Florida, LLC is shared by Carl DeSantis and William H.
      Milmoe. Mr. Milmoe does not have dispositive power with respect to such
      shares.</font></div>
                </td>
              </tr></table>
          <div>&#160;</div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">40</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="TEXT-ALIGN: justify">
        <div>&#160;</div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5)</font></div>
              </td>
              <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      (a) 500 shares of common stock held of record by Mr. Milmoe, (b) 2,500
      shares of common stock issuable upon exercise of stock options, (c) the
      559,201 shares of common stock held of record by CD Financial, LLC and (d)
      the 7,043,380 shares of common stock beneficially owned by CDS Ventures of
      South Florida, LLC as more fully described in footnote (4) above. Mr.
      Milmoe and Carl De Santis share voting power with respect to shares of
      common stock beneficially owned by CDS Financial, LLC and CDS Ventures of
      South Florida, LLC. Mr. Milmoe does not have dispositive power with
      respect to such shares.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6)</font></div>
              </td>
              <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      (a) 559,201 shares of common stock held of record by CD Financial, LLC and
      (b) 7,043,380 shares of common stock beneficially owned by CDS Ventures of
      South Florida, LLC, as more fully described in footnote (4)
      above.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7)</font></div>
              </td>
              <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      7,043,380&#160;shares of common stock beneficially owned by CDS Ventures
      of South Florida, LLC as described in footnote (4)
  above.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8)</font></div>
              </td>
              <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      (a) 1,337,247 shares of common stock held of record by Mr. Haley and (b)
      100,294 shares of common stock issuable upon exercise of stock options
      held by Mr. Haley. Excludes all shares of common stock owned of record and
      beneficially by Janice Haley, Mr. Haley&#8217;s spouse, in which shares he
      disclaims beneficial ownership.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(9)</font></div>
              </td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      (a) 907,247 shares of common stock held of record by Ms. Santini and (b)
      121,542 shares of common stock issuable to Ms. Santini upon conversion of
      a convertible promissory note.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(10)</font></div>
              </td>
              <td valign="top" width="80%" style="TEXT-ALIGN: justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      (a) 12,255 shares of common stock held of record by Ms. Haley and (b)
      146,225 shares of common stock issuable upon exercise of stock options
      held by Ms. Haley. Does not include shares of common stock owned of record
      or beneficially by Stephen C. Haley, her spouse, in which shares Ms. Haley
      disclaims beneficial ownership.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11)</font></div>
              </td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      16,667 shares of common stock issuable upon exercise of stock options held
      by Mr. Perlman.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(12)</font></div>
              </td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      18,998 shares of common stock issuable upon exercise of stock options held
      by Mr. Cast.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(13)</font></div>
              </td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      2,500 shares of common stock issuable upon exercise of stock options held
      by Mr. Cotton.</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="5%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(14)</font></div>
              </td>
              <td align="left" valign="top" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Includes
      shares of common stock owned of record and beneficially as described in
      footnotes (5), (8) and (10) through
(13).</font></div>
              </td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Lock
Up Agreements</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
executive officers, directors, Carl DeSantis, CDS Ventures of South Florida, LLC
and CD Financial, LLC, have agreed that they will not directly or indirectly
sell, offer, contract to sell, make a short sale, pledge or otherwise publicly
dispose of any shares of our common stock (or any of our securities exercisable
for or convertible into common stock) owned by them, for a period of 180 days
after the date of this prospectus, without the prior consent of Ladenburg
Thalmann &amp; Co. Inc. </font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CERTAIN
<a name="certain">RELATIONSHIPS AND RELATED </a>TRANSACTIONS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
September 8, 2009, we entered into a convertible loan agreement with Lucille
Santini, a principal shareholder. We received advances from Ms. Santini at
various times during 2004 and 2005, totaling $76,000 and $424,000, respectively.
The advances carried interest at a rate variable with the prime rate. In July,
2008, the debt was refinanced, with interest at prime rate flat and monthly
amortization of $5,000. A balloon payment of approximately $606,000 was due in
January 2010. In July, 2009, the debt was refinanced again, with interest at
prime rate flat and monthly amortization of $11,500. A balloon payment of
approximately $451,600 was due in January 2011. This note together with a cash
payment of $3,699 was exchanged for a new note due on September 8, 2012. This
note carries a variable interest rate equal to 300 basis points over the one (1)
month LIBOR. Commencing on September 8, 2010 and continuing each three month
period hereafter, we will make payments of all accrued but unpaid interest only.
The loan can at any time be converted to shares of our common stock at the
Conversion Price. The &#8220;Conversion Price&#8221; is: (A) from September 8, 2009 through
and including December 31, 2011, equal to the lesser of (i) $8.00 per share, or
(ii)&#8221;Market Price&#8221; on the date of conversion (as defined above); or (B) after
December 31, 2011 the greater of (i) $8.00 per share, or (ii) Market Price on
the date of conversion, as appropriately adjusted for in either case stock
splits, stock dividends and similar events; provided, however, that, the
Conversion Price shall never be less than $2.00 regardless of Market Price on
the date of conversion. The maximum number of shares of common stock to be
issued based on the lowest Conversion Price possible is 307,500 shares. As of
September 30, 2009, the outstanding balance of the loan was $431,000, net of
unamortized debt discount of $181,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">41</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the refinance agreement, Ms. Santini was also granted certain
registration rights under the Securities Act of 1933 with respect to the shares
of common stock issuable upon conversion of the debt.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
accrued $171,000 in salary for Mr. Haley, our CEO,
from March 2006 through May 30, 2007. Mr. Haley also lent us $50,000 in February
2006. The two debts were restructured in July 2008 into one note accruing 3%
interest, no collateral, monthly payments of $5,000 and with a balloon payment
of $64,000 in January 2011. The outstanding balance as of September 30, 2009 was
$155,000.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr. Haley
guaranteed the Company&#8217;s obligations under a factoring agreement with Bibby
Financial Services, Inc, which subsequently was cancelled in November 2008. Mr.
Haley has also guaranteed the financing of vehicles on our behalf, and
previously guaranteed the office lease for the Company. Mr. Haley was not
compensated for issuing the guarantees.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
8, 2008, we entered into a securities purchase agreement with CDS Ventures of
South Florida, LLC. Pursuant to the agreement, we issued 100 shares of Series A
preferred stock, as well as a warrant to purchase an additional 50 shares of Series A preferred stock, for a cash payment
of $1.5 million and the cancellation of two notes in aggregate amount of
$500,000 issued to CD. The shares of Series A preferred stock are convertible
into our common stock at any time. The securities purchase agreement was amended
on December 12, 2008 to provide that until December 31, 2010, the conversion
price is $1.60, after which the conversion price is the greater of $1.60 or 90%
of the volume weighted average price of the common stock for the prior 10
trading days. Pursuant to the securities purchase agreement, we also entered
into a registration rights agreement, pursuant to which we registered the common
stock issuable upon conversion of the Series A preferred stock for resale under
the Securities Act of 1933. The Series A preferred stock accrues ten percent
annual cumulative dividends, payable in additional shares of Series A preferred
stock. We issued 15.1 shares of Series A preferred stock in dividends during
2009, as dividends for the years 2008 and 2009. The
Series A preferred stock matures on February 1, 2013 and is only redeemable in
our common stock.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
November 2009, CDS Ventures of South Florida, LLC exercised its right to
purchase an additional 50 shares of Series A preferred stock in exchange for
cancellation of a $1.1 million note issued to CD Financial, LLC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On
December 12, 2008, we entered into a second securities purchase agreement with
CDS. Pursuant to this securities purchase agreement, we issued 100 shares of
Series B preferred stock, as well as a warrant to purchase an additional 100
shares of Series B preferred stock, for a cash payment of $2.0 million. The
shares of Series B preferred stock were convertible into our common stock at any
time. Until December 31, 2010, the conversion price was $1.00, after which the
conversion price was the greater of $1.00 or 90% of the volume weighted average
price of the common stock for the prior 10 trading days. We also granted CDS
Ventures of South Florida, LLC certain registration rights under the Securities
Act of 1933 with respect to the shares of common stock issuable upon conversion
of the Series B preferred stock. The Series Preferred B stock accrued a ten
percent annual cumulative dividend, payable in additional shares of Series B
preferred stock.&#160;We issued 1 share of Series B preferred stock in dividends
during the first quarter of 2009. The Series B preferred stock was scheduled to
mature on December 31, 2013 and was only redeemable in our common
stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On March
31, 2009, CDS Ventures of South Florida, LLC exercised its right to purchase
additional 100 shares of Series B preferred stock and executed a subscription
agreement for $2.0 million. The monies for the subscription were paid on April 7
and May 1, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On
December 23, 2009, CDS Ventures of South Florida, LLC converted all of the
shares of Series B preferred stock (including shares issuable in payment of
accrued dividends) into 4,343,000 shares of common
stock.&#160;&#160;We&#160;recorded a liability to&#160;CDS Ventures of South
Florida, LLC, for&#160;a $100,000 fee for their agreement to convert the Series
B preferred stock into common stock on an expedited basis.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
covenants of the Series A preferred stock restrict
us from entering into additional debt arrangements or permitting liens to be
filed against our Company&#8217;s assets, without approval from the holder of the
preferred stock. There is a mandatory redemption in cash, if we breach certain
covenants of the agreements. The holders have liquidation preference of $20,000
per share in case of a liquidation of our company. We have the right to redeem
the preferred shares early by the payment in cash of 104% of the liquidation
preference value. We may redeem the Series A preferred stock at any time on or
July 1, 2010.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">On
September 8, 2009, we entered into a convertible loan agreement with CDS
Ventures of South Florida, LLC.&#160;&#160;Under the loan agreement, CDS
Ventures of South Florida, LLC will lend us up to $6,500,000, with disbursements
of the $2,000,000 during each of September, October and November 2009 and
$500,000 in December 2009, provided that no disbursement shall be made in an
amount less than $500,000. Any amounts not requested for disbursement in one
calendar month can be carried over to a subsequent month and disbursed in
addition to the maximum of such subsequent month. The loan is due on September
8, 2012 and carries a variable interest rate equal to 300 basis points over the
one (1) month LIBOR. In January 2010, we agreed to increase the interest rate to
700 basis points over the one (1) month LIBOR. Commencing on September 8, 2010
and continuing each three month period thereafter, we will make payments of all
accrued but unpaid interest only on unpaid principal balance. The loan is
convertible at any time into shares of our common stock at the Conversion Price.
The &#8220;Conversion Price&#8221; was originally based on a price of $8.00 per share or a
market price calculation at the date of conversion.&#160;&#160;In order to
comply with the listing requirements for the Nasdaq Stock Market, LLC, in
January 2010, the parties amended the convertible loan agreement to increase the
Conversion Price at $10.20 per share, which was the consolidated closing bid
price of the common stock on the OTC Bulletin Board on the business day prior to
the date the agreement was entered into. As of September 30, 2009, the
outstanding balance of the loan was $1.7 million, net of unamortized debt
discount of $259,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">42</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
connection with the loan agreement, CDS Ventures of South Florida, LLC was
granted certain registration rights under the Securities Act of 1933 with
respect to the agreement with CDS Ventures of South Florida, LLC pursuant to
which we filed a registration statement with the Securities and Exchange
Commission in October shares of common stock issuable upon conversion of the
debt under the loan agreement.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Under its
various securities purchase and loan agreements with us, CDS Ventures of South
Florida, LLC has the right to designate four out of seven members of our board
of directors, which have all been nominated..</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We fund
part of our working capital from a line of credit with CD Financial, LLC. The
line of credit was entered into in December 2008 and is for $1.0 million. The
interest rate is LIBOR rate plus three percent on the outstanding balance. The
line expires in December 2010 and is renewable. In connection with the revolving
line of credit we have entered into a loan and security agreement under which we
have pledged all our assets as security for the line of credit. The outstanding
balance under the line of credit as of September 30, 2009 was
$550,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We have
entered into a six month lease agreement expiring in March 2010 for office space
with CDR Plaza, Ltd. a company controlled by Carl DeSantis. The monthly rate is
$4,000 for a 3,000 square foot space, which we believe to be comparable to
market rates.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Related
party transactions are contracted on terms comparable to the terms of similar
transactions with unaffiliated parties. As part of our code of ethics, any
related party transaction must be approved in advance. If the interested party
is an officer or director of the Company, approval must be obtained from of a
majority of the Audit Committee of the Board or the Board itself, provided that
only those that do not have a relationship or an interest in the transaction are
eligible to cast a vote. In each such case, the full scope of the conflict of
interest must be disclosed to senior management and the Audit
Committee</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Conflicts
Relating to Executive Officers and Directors</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>To date, we do not believe that there
are any conflicts of interest involving our executive officers or
directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;With
respect to transactions involving real or apparent conflicts of interest, we
have adopted policies and procedures which require that: (i)&#160;the fact of
the relationship or interest giving rise to the potential conflict be disclosed
or known to the directors who authorize or approve the transaction prior to such
authorization or approval, (ii)&#160;the transaction be approved by a majority
of our disinterested outside directors, and (iii)&#160;the transaction be fair
and reasonable to us at the time it is authorized or approved by our
directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<a name="desofsec"><!--EFPlaceholder-->
 DESCRIPTION OF </a>SECURITIES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital
Stock</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Our
authorized capital stock consists of 50,000,000 shares of common stock, par
value $0.001 per share and 2,500,000 shares of preferred stock, par value $0.001
per share.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">Common
Stock</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
shares of our common stock that are presently issued
and outstanding are fully paid and non-assessable. Holders of our common stock
are entitled to one vote for each share on all matters submitted to a
shareholder vote.<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>Holders of common stock do
not have cumulative voting rights.<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>Therefore, holders of a
majority of the shares of common stock, voting together with holders of our
Series A preferred stock as a single class, can elect all of the directors.
Holders of our capital stock representing a majority of the voting power of our
capital stock entitled to vote, represented in person or by proxy, are necessary
to constitute a quorum at any meeting of our shareholders. A vote by the holders
of a majority of our outstanding capital stock entitled to vote is required to effectuate certain fundamental corporate
changes such as liquidation, merger or an amendment to our Articles of
Incorporation.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Holders
of common stock are entitled to share in all dividends that our board of
directors, in its discretion, declares from legally available funds, subject to
preferences granted to shares of preferred stock, including the Series A
preferred stock. In the event of liquidation, dissolution or winding up, each
outstanding share entitles its holder to participate pro rata in all assets that
remain after payment of liabilities and after providing for each class of stock,
if any, having preference over the common stock, including the Series A
preferred stock. Holders of our common stock have no pre-emptive rights, no
conversion rights and there are no redemption provisions applicable to our
common stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">43</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Preferred
Stock</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our board
of directors has the authority, without further action by the shareholders, to
issue such shares of preferred stock in one or more series and to fix the
rights, preferences and the number of shares constituting any series or the
designation of such series. While our Articles and bylaws do not contain any
provisions that may delay, defer or prevent a change in control, the issuance of
preferred stock may have the effect of delaying or preventing a change in
control or make removal of our management more difficult. Additionally, the
issuance of preferred stock may have the effect of decreasing the market price
of the common stock and may adversely affect the voting and other rights of the
holders of common stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Series A preferred stock</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Of the
2,500,000 shares of preferred stock we are authorized to issue, 154 shares have
been designated as Series A preferred stock and were issued and outstanding as
of September 30, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Series A preferred stock is convertible into common stock at any time at the
option of the holder at a conversion price of $1.60 through December 31, 2009,
after which the conversion price is the greater of $1.60 or 90% of the volume
weighted average price of the common stock for the 10 trading days prior to the
date of conversion. The conversion price is subject to adjustment in the event
of stock dividends, stock splits and similar events. The Series A preferred
stock accrues cumulative annual dividends at the rate of 10% per annum, payable
in additional shares of Series A preferred stock and provides for a liquidation
preference of $20,000 per share. The Series A preferred stock may be redeemed by
us at any time on or after July 1, 2010 at a redemption price equal to 104% of
the liquidation preference and is mandatorily redeemable if certain covenants of
the Series A preferred stock are breached, at a redemption price equal to the
liquidation preference.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
holders of the Series A preferred stock vote on an &#8220;as converted&#8221; basis,
together with holders of common stock as a single
class on all matters presented to shareholders for a vote, except as required by
law. In addition, certain covenants of the Series A preferred stock require
consent of the holders of a majority of the outstanding shares of Series A
preferred stock to us entering certain arrangements, including incurring
additional debt or permitting the filing of additional liens.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Series B preferred stock</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Of the
2,500,000 shares of preferred stock we are authorized to issue, 201 shares were
designated as Series B preferred stock and were issued and outstanding as of
December 23, 2009, at which time the shares of Series B preferred stock
(including shares issuable in payment of accrued dividends) were converted into
4,343,000 shares of common stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrants
Included in the Units</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Number of Warrants; Warrant
Agent</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>After consummation of the offering,
900,000 warrants to purchase an aggregate of 900,000 shares of common stock will
be outstanding, assuming no exercise of the over-allotment
option.&#160;&#160;Each warrant entitles the holder to purchase one share of
common stock at an exercise price per share equal to 33% of the public offering
price per unit, during the three-year period commencing on the date of this
prospectus.&#160;&#160;The warrants are being issued pursuant to a Warrant
Agreement entered into between us and Interwest Transfer Company, Inc., as
warrant agent.&#160;&#160;The warrants will be issued separately from the common
stock included in the units offered hereby and&#160; will
be&#160;transferable separately immediately thereafter.&#160;&#160;The
warrants may be in certificated form or represented by one or more book-entry
certificates.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Exercise and Duration of
Warrants</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Warrants may be exercised by
delivering, not later than 5:00 P.M., New York time, on any business day during
the exercise period to the warrant agent the certificate representing the
warrant or, in the case of book-entry warrants, the warrants being exercised
free on the records of the Depositary Trust Company (DTC) to an account of the
warrant agent at DTC along with a completed election to purchase and the payment
of the exercise price for each warrant to be exercised by certified or official
bank check or by bank wire transfer in immediately available funds.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If we are unable to issue the shares of
common stock upon exercise of the warrants because the registration statement
covering the shares is subject to a stop order or has had its effectiveness
suspended or withdrawn or if we are otherwise unable to issue the shares, and no
exemption from registration is available by virtue of a cashless exercise as
described below or otherwise, the warrants will not be
exercisable.&#160;&#160;In such event, the warrants will not expire until five
days after the date we are first able to issue the shares of common
stock.&#160;&#160;In no event may the warrants be net cash settled.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Cashless Exercise</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>If a registration statement, or an
exemption from registration, is not available for the resale of the shares
underlying the warrants, the warrants may also be exercised on a cashless basis
pursuant to which the holder will receive a net number of shares of common stock
determined according to the following formula:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="center">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">44</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Net number of shares = <font style="DISPLAY: inline; TEXT-DECORATION: underline">(A x B) &#8211; (A x
C)</font></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 144pt"></font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;B</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">where:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>A = the total number of shares with
respect to which the warrant is then being exercised;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">B = the
arithmetic average of the closing sale prices of the shares of common stock for
the five consecutive trading days ending on the date immediately preceding the
date of exercise; and</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>C = the exercise price then in
effect.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Delivery of Shares Upon
Exercise</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Shares of common stock issuable upon
exercise of the warrants will be issued to the holder no later than 5:00 P.M.,
New York time, on the third business day after the proper exercise of the
warrants.&#160;&#160;In lieu of delivering physical certificates representing
shares of common stock issuable upon the exercise of warrants, if our transfer
agent is participating in DTC&#8217;s Fast Automated Securities Transfer program, we
will use our reasonable best efforts to cause the transfer agent to
electronically transmit the shares by crediting the account of the registered
holder&#8217;s prime broker with DTC or of a participant through DTC&#8217;s Deposit
Withdrawal Agent Commission system.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Certain Adjustments</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The exercise price and number of shares
of common stock issuable on exercise of the warrants is subject to adjustment in
the event of any stock split, reverse stock split, stock dividend,
recapitalization, reorganization or similar transaction.&#160;&#160;However, the
warrants will not be adjusted for issuances of shares of common stock at a price
below their respective exercise prices.&#160;&#160;In the event of a fundamental
transaction involving our consolidation or merger with or into another entity
where we are not the surviving entity, the sale or all or substantially all of
our properties or assets or the reorganization, recapitalization or
reclassification of our common stock, it is a condition to such fundamental
transaction that any successor to us whose common stock is traded on an eligible
market assume or remain bound by the warrants to deliver in exchange for the
warrants a written instrument substantially similar to the warrants entitling
the holder to acquire the successor&#8217;s capital stock at an exercise price that
reflects the terms of the transaction.&#160;&#160;In the event that the
successor does not have common stock traded on an eligible market, a holder of
warrants will be entitled to receive an instrument substantially similar to the
warrants exercisable for the consideration that would have been issuable in the
fundamental transaction had the warrants been exercised immediately prior
thereto.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Limitations on Exercise</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The number of shares of common stock
that may be acquired by the registered holder upon any exercise of warrants
shall be limited to the extent necessary to insure that, following such
exercise, the total number of shares of common stock then beneficially owned by
such holder and its affiliates any other persons whose beneficial ownership of
common stock would be aggregated with the holder&#8217;s for purposes of Section 13(d)
of the Securities Exchange Act of 1934, does not exceed 9.999% of the total
number of issued and outstanding shares of common stock (including for such
purpose the shares of common stock issuable upon such exercise).&#160;&#160;This
restriction may not be waived.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>No Rights as Shareholders</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Warrant holders do not have the rights
or privileges of holders of common stock, including voting rights, until they
exercise their warrants and receive shares of common stock.&#160;&#160;After the
issuance of shares of common stock upon exercise of the warrants, each holder
will be entitled to one vote for each share held of record on all matters to be
voted on by shareholders.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Amendments</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The warrants provide that the terms of
the warrants may be amended without the consent of any holder to cure any
ambiguity, to cure, correct or supplement any defective provision, or to add or
change any other provisions that do not adversely affect the interest of the
warrant holders.&#160;&#160;All other changes require the written consent of the
underwriter and the holders of a majority of the then outstanding
warrants.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Fractional Shares</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>No fractional shares will be issued
upon exercise of the warrants.&#160;&#160;If a holder exercises warrants and
would be entitled to receive a fractional interest of a share, we will round up
or down the number of common stock to be issued to the warrant holder to the
nearest whole number of shares.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Transfer Taxes</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>We will not pay any stamp or other tax
or governmental charge required to be paid in connection with any transfer
involved in the issue of shares of common stock issuable upon the exercise of
warrants.&#160;&#160;In the event of any such transfer, we will not issue or
deliver any shares until such tax or other charge shall have been paid or it has
been established to our satisfaction that no such tax or other charge is
due.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>You should review a copy of the warrant
agreement, which will be filed as an exhibit to this registration statement, for
a complete description of the terms and conditions of the warrants.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="center">
            </div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
            <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">45</font></div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
          </div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
Warrants</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
connection with an investor&#8217;s purchase of 50,000 shares of common stock in March
2008, a warrant to purchase 35,000 shares at an exercise price of $2.60 per
share was issued to the investor. This warrant expires in March,
2011.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">An
investment banker received as compensation a warrant to purchase 3,750 shares of
our common stock with an exercise price of $26.20 per share. This warrant
expires in July 2012.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We
entered into an agreement with Mario Lopez for services pursuant to which we
granted a company affiliated with Mr. Lopez a warrant to purchase 50,000 of our
common stock at the exercise price of $9.00 per share. This warrant expires in
November 2012.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We have
entered in to a letter of intent with a food broker pursuant to which at the
time of consummation of a definitive agreement with the food broker, we will
issue the food broker a three-year warrant to purchase 50,000 shares of our
common stock at an exercise price equal to the current market
price.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
Promissory Notes and Debentures</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2009, we issued two convertible promissory notes, one to CDS Ventures
of South Florida, LLC to evidence advances under a loan agreement of up to
$6,500,000 and one to Lucille Santini, a principal shareholder, in the principal
amount of $615,000. The unpaid principal amount due under these notes is
convertible at the option of the holder at any time prior to maturity. The
conversion price under the Santini note is (i)
through December 31, 2001, the lesser of (a) $8.00 per share or (b) &#8220;Market
Price&#8221; on the date of conversion or (ii) after December 31, 2001, the greater of
(a) $8.00 per share or (b) &#8220;Market Price&#8221; on the date of conversion, but shall
in no event be less than $2.00 per share. The conversion
price under the CDS Ventures of South Florida, LLC note is $10.20 . The
conversion price for both notes is subject to adjustment in the event of stock
splits, stock dividends or similar events. The maximum number of shares issuable
upon conversion of the promissory notes is 637,255
shares under the note issued to CDS Ventures of South Florida, LLC and 307,500
shares under the note issued to Lucille Santini.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, we issued a convertible debenture of $1.5 million to Golden Gate
Investors, Inc. GGI can convert the debenture at any time with the conversion
price as the lower of (i) $20.00, or (ii) 80% of the average of the three lowest
daily volume weighted average price during the 20 trading days prior to GGI&#8217;s
election to convert. As of the date of this prospectus we owe GGI a total of
$36,000, which at current conversion price can be converted into 10,638 shares of our common stock</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dividends</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We have
never declared or paid any cash dividends on shares of our common stock. We
currently intend to retain earnings, if any, to fund the development and growth
of our business and do not anticipate paying cash dividends in the foreseeable
future. Our payment of any future dividends will be at the discretion of our
board of directors. In addition, payment of cash dividends on shares of our
common stock may be restricted under the terms of preferred stock which we may
issue after taking into account various factors, including our financial
condition, operating results, cash needs and growth plans.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Series A preferred stock accrues dividends on the stated share value at an
annual rate of ten percent. Dividends on the Series A preferred stock are
payable annually on the last business day of each fiscal year in additional
shares of Series A preferred stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">46</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MARKET
FOR COMMON <a name="markte">EQUITY AND RELATED </a>SHAREHOLDER
MATTERS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
common stock is quoted on the OTC Bulletin Board under the symbol &#8220;CSUH&#8221;. There
is currently no public trading market for our warrants. Our common stock and
warrants will be listed on the Nasdaq Capital Market under the symbols &#8220;CELH&#8221;
and &#8220;CELHW&#8221; upon consummation of the offering.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For the
periods indicated, the following table sets forth the high and low bids for our
common stock as reported by the OTC Bulletin Board.&#160;&#160;The prices
represent inter-dealer quotations based without retail mark-up, mark-down or
commission and may not represent actual transactions.&#160;&#160;The prices have
been adjusted for the 1-for-20 reverse stock split
implemented on December 23, 2009.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div align="center">
          <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
                <td valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Quarter
      Ended</font></div>
                </td>
                <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">High</font></div>
                </td>
                <td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Low</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Through
      February 5, 2010</font> </div>
                </td>
                <td align="right" valign="bottom" width="10%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.45</font> </td>
                <td align="right" valign="bottom" width="10%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.00</font> </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31-Dec-09</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.00</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.25</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30-Sep-09</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$14.00</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.00</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30-Jun-09</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$4.00</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.00</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31-Mar-09</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.00</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.80</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31-Dec-08</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.60</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.60</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30-Sep-08</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.00</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.00</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30-Jun-08</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$3.80</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.60</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31-Mar-08</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$5.60</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.00</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31-Dec-07</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$13.00</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$2.60</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30-Sep-07</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$26.20</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$9.40</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30-Jun-07</font></div>
                </td>
                <td valign="bottom" width="10%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$35.60</font></div>
                </td>
                <td valign="bottom" width="10%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$12.40</font></div>
                </td>
              </tr><tr>
                <td valign="bottom" width="16%" style="TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31-Mar-07</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$73.40</font></div>
                </td>
                <td align="right" valign="bottom" width="10%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$24.00</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Holders
of Record</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As of
February 1, 2010, we had 35 holders of record of our
common stock. The number of record holders was determined from the records of
our transfer agent and does not include beneficial owners of common stock whose
shares are held in the names of various security brokers, dealers, and
registered clearing agencies.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> When our common stock is traded &#160;on the Nasdaq Capital Market upon consumption of this
offering, &#160;we will be required to maintain a minimum number of at
least 300 public shareholders after the commencement
of trading in order to maintain such listing.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Transfer
Agent and Warrant Agent</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
transfer agent for our common stock and warrant agent for our warrants is
Interwest Transfer Company, Inc., 1981 East Murray Holladay Road, Suite 100,
Salt Lake City, Utah 84117.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNDE<a name="underwriting"><!--EFPlaceholder-->
 RWR</a>ITING</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
accordance with the terms and conditions contained in the underwriting
agreement, we have agreed to sell to each of the underwriters named below, and
each of the underwriters, for which Ladenburg Thalmann &amp; Co. Inc. is acting
as the representative, has, severally, and not jointly, agreed to purchase from
us on a firm commitment basis the units offered in
this offering set forth opposite their respective names
below:</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Underwriters</font></div>
                </td>
                <td valign="bottom" width="58%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Number of Units</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ladenburg
      Thalmann &amp; Co. Inc.</font></div>
                </td>
                <td valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="24%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maxim
      Group LLC</font></div>
                </td>
                <td valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="24%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
                </td>
                <td valign="bottom" width="58%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="24%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                </td>
                <td valign="bottom" width="58%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">900,000</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">A copy of
the underwriting agreement will be filed as an exhibit to the registration
statement of which this prospectus forms a part.</font></div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">47</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
been advised by the representative of the underwriters that the underwriters
propose to offer the units directly to the public at
the public offering price set forth on the cover page of this prospectus. Any units sold by the underwriters to securities dealers
will be sold at the public offering price less a selling concession not in
excess of $_____ per unit. The underwriters may allow, and these selected
dealers may re-allow, a concession of not more than $____ per unit to other brokers and dealers.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
underwriting agreement provides that the underwriters&#8217; obligations to purchase
the units are subject to conditions contained in the
underwriting agreement. The underwriters are obligated to purchase and pay for
all of the units offered by this prospectus other
than those covered by the over-allotment option, if any of these securities are
purchased.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No action
has been taken by us or the underwriters that would permit a public offering of
the units included in this offering in any
jurisdiction where action for that purpose is required. None of our securities
included in this offering may be offered or sold, directly or indirectly, nor
may this prospectus or any other offering material or advertisements in
connection with the offer and sales of any of our common stock be distributed or
published in any jurisdiction, except under circumstances that will result in
compliance with the applicable rules and regulations of that jurisdiction.
Persons who receive this prospectus are advised to inform themselves about and
to observe any restrictions relating to this offering of the units and the distribution of this prospectus. This
prospectus is neither an offer to sell nor a solicitation of any offer to buy
any of the units included in this offering in any
jurisdiction where that would not be permitted or legal.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
underwriters have advised us that they do not intend to confirm sales to any
accounts over which they exercise discretionary authority.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Underwriting
discount and expenses</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
following table summarizes the underwriting discount to be paid to the
underwriters by us.</font></div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="TEXT-ALIGN: right" align="right">
        <table cellpadding="0" cellspacing="0" width="93%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: right; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr style="TEXT-ALIGN: right;">
              <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total,
      without</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">over-allotment</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total,
      with</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">over-allotment</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Underwriting
      discount to be paid to the underwriters by us for the units</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(7%
      of gross proceeds)</font></div>
                  </div>
                </div>
              </td>
              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">&#160;</td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">&#160;</td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font></font>

        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
also agreed to pay all out of pocket expenses incurred by the underwriters in
connection with the underwriting, including reasonable attorneys fees and
expenses of the underwriters&#8217; counsel retained for this purpose by the
underwriters, of which $50,000 has been paid by us as of the date of this
prospectus. The maximum out of pocket the expenses
of the underwriters to be paid by us in offering is $ 135,000, or $160,000 &#160;&#160;if the underwriters&#8217;
over-allotment option is exercised in full. In no event will the amount of such
reimbursement exceed 1.5% of the gross proceeds of the offering.</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
agreed to sell to the representative, for an aggregate of $100, an option to
purchase up to 18,000 units, which units are identical to the units being
offered in this prospectus . This purchase option is
exercisable at any time, in whole or in part, during the three- year period commencing on the date of consummation
of this offering at an exercise price equal to the public offering price per unit in this offering.&#160;&#160;Under FINRA Rule
5110(g)(1), the purchase option being issued to the representative (and the
shares of common stock and warrants issuable upon exercise of the purchase
option) shall not be sold during the offering, or sold, transferred, assigned,
pledged, or hypothecated, or be the subject of any hedging, short sale,
derivative, put, or call transaction that would result in the effective economic
disposition of the securities by any person for a period of 180 days immediately
following the date of commencement of sales in the offering, except certain
limited transfers, such as transfers to any underwriter and selected dealer
participating in this offering and any of their bona fide officers or partners
(but not directors).&#160;&#160;Although the purchase option and its underlying
securities have been registered under the registration statement of which this
prospectus forms a part, the option holders will be granted demand and &#8220;piggy
back&#8221; rights with respect to the registration under the Securities Act of 1933
with respect to the securities directly and indirectly issuable upon exercise of
the purchase option.&#160;&#160;The exercise prices and number of securities
issuable upon exercise of the purchase option may be adjusted in certain
circumstances including in the event of a stock dividend, or our
recapitalization, reorganization, merger or consolidation.&#160;&#160;However,
the purchase option will not be adjusted for issuances of common stock at prices
below the option&#8217;s exercise price.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        </div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">48</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Over-allotment
option</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We have
granted to the underwriters an option, exercisable not later than 45 days after
the date of this prospectus, to purchase up to 135,000 units at the public
offering price, less the underwriting discount, set forth on the cover page of
this prospectus. The representative may exercise the option solely to cover
over-allotments, if any, made in connection with this offering. If any
additional units are purchased pursuant to the over-allotment option, the
underwriters will offer these additional units on the same terms as those on
which the other shares are being offered hereby.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Determination
of offering price</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
public offering price of the units and the exercise price and other terms of the
warrants were negotiated between us and the representative of the underwriters,
based on the trading prior to the offering, among other things. Other factors
considered in determining the public offering price of the units and the
exercise price and other terms of the warrants include the history and prospects
of the company, the stage of development of our business, our business plans for
the future and the extent to which they have been implemented, an assessment of
our management, general conditions of the securities markets at the time of the
offering and such other factors as were deemed relevant.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stabilization,
short positions and penalty bids</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
underwriters may engage in over-allotment, syndicate covering transactions,
stabilizing transactions and penalty bids or purchases for the purpose of
pegging, fixing or maintaining the price of our common stock:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
              </td>
              <td style="TEXT-ALIGN: justify">
                <div style="TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Over-allotment
      involves sales by the underwriters of shares and/or
      warrants in excess of the number of shares and warrants the
      underwriters are obligated to purchase, which creates a syndicate short
      position. The short position may be either a covered short position or a
      naked short position. In a covered short position, the number of shares
      and/or warrants over-allotted by an underwriter is not greater than the
      number of shares and/or warrants that it may purchase in the
      over-allotment option. In a naked short position, the number of shares
      and/or warrants involved is greater than the number of shares and/or
      warrants in the over-allotment option. An underwriter may close out any
      short position by exercising its over-allotment option, in whole or in
      part, or purchasing shares and/or warrants in the open
      market.</font></div>
                  </div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
              </td>
              <td style="TEXT-ALIGN: justify">
                <div style="TEXT-ALIGN: justify">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Syndicate
      covering transactions involve purchases of securities in the open market
      after the distribution has been completed in order to cover syndicate
      short positions. In determining the source of securities needed to close
      out the short position, the representative will consider, among other
      things, the price of the securities available for purchase in the open
      market as compared to the price at which it may purchase the securities
      through the over-allotment option. If the underwriters sell more
      securities than could be covered by the over-allotment option, a naked
      short position, the position can only be closed out by buying securities
      in the open market. A naked short position is more likely to be created if
      the representative is concerned that there could be downward pressure on
      the price of the securities in the open market after pricing that could
      adversely affect investors who purchase in the
    offering.</font></div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stabilizing
      transactions permit bids to purchase the underlying security so long as
      the stabilizing bids do not exceed a specific
  maximum.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 40pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8226;</font></div>
              </td>
              <td style="TEXT-ALIGN: justify">
                <div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Penalty
      bids permit the representative to reclaim a selling concession from a
      syndicate member when the securities originally sold by the syndicate
      member are purchased in a stabilizing or syndicate covering transaction to
      cover syndicate short positions.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">These
syndicate covering transactions, stabilizing transactions and penalty bids may
have the effect of raising or maintaining the market prices of our securities or
preventing or retarding a decline in the market prices of our securities. As a
result, the price of our common stock and warrants may be higher than the price
that might otherwise exist in the open market. These transactions may be
effected on the OTC Bulletin Board, on the Nasdaq Capital Market, in the
over-the-counter market or on any trading market and, if commenced, may be
discontinued at any time.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Neither
we nor the underwriters make any representation or prediction as to the
direction or magnitude of any effect that the transactions described above may
have on the prices of our securities. In addition, neither we nor the
underwriters make any representation that the underwriters will engage in these
stabilizing transactions or that any transactions, once commenced, will not be
discontinued without notice.</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">49</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indemnification</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
agreed to indemnify the underwriters against certain liabilities, including
liabilities under the Securities Act of 1933, or to contribute to payments the
underwriters may be required to make with respect to any of these
liabilities.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ORGANIZATION
<a name="5yrs">WITHIN LAST </a>FIVE YEARS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We were
incorporated under the laws of the State of Nevada on April 26, 2005 under the
name &#8220;Vector Ventures Group&#8221;, to engage in the acquisition, exploration and
development of natural resource properties. On December 26, 2006, we amended our
Articles of Incorporation to change&#160; our name
from Vector Ventures Corp. as well as increase our authorized
capitalization.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prior to
January 26, 2007, our activities were limited to capital formation,
organization, development of our business plan and acquisition of mining claims.
On January 24, 2007, we entered into a merger agreement and plan of
reorganization with Celsius, Inc., our wholly-owned subsidiary, Elite FX, Inc.,
and Stephen C. Haley, Elite&#8217;s principal shareholder. Under the terms of the
merger agreement, Elite FX, Inc. was merged into Celsius, Inc. and became our
wholly-owned subsidiary on January 26, 2007.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the merger agreement, we issued 3,478,750 shares of our common
stock to the shareholders of Elite, excluding 66,862
shares of common stock issued as compensation, in exchange for the shares of
Elite FX, Inc. We also issued:</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td style="TEXT-ALIGN: justify">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">warrants
      to Investa Capital Partners Inc. to purchase 177,891 shares of our common
      stock for $500,000, which were exercised in February
  2007;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">69,575
      shares of our common stock as partial consideration of termination of a
      consulting agreement and assignment of certain trademark rights to the
      name &#8220;Celsius&#8221;;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">options
      to purchase 532,351 shares of our common stock of the Company in exchange
      for options which were then outstanding in Elite FX, Inc.;
    and</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">65,000
      shares of our common stock in a concurrent
      private placement to non-US resident investors for aggregate
      consideration of $650,000 which included the conversion of a $250,000 note
      to us.</font></div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our then
majority shareholder, Kristian Kostovski, cancelled 360,000 shares of our common
stock held by him shortly after the merger. The merger also resulted in a change
in the composition of our board of directors and executive
officers.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">After the
merger, we began our present business of developing, marketing, selling and
distributing functional beverages, with Celsius&#174; as our first
product.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="legal">LEGAL MATTERS</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
validity of the common stock offered by this prospectus will be passed upon for
us by Arnstein &amp; Lehr LLP, Fort Lauderdale, Florida. Certain legal matters
will be passed on for the underwriters by Graubard Miller, New York, New
York.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EX<a name="experts">PER</a>TS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
consolidated financial statements for the years ended December 31, 2008 and
2007, consisting of our balance sheets as of December 31, 2008 and 2007,
statements of operations, statements of changes in stockholders&#8217; deficit and
statements of cash flows for the years ended December 31, 2008 and 2007,
included in this Prospectus and the registration statement have been audited by
Sherb &amp; Co., LLP, independent registered public accounting firm, to the
extent and for the periods set forth in their
report&#160;(which&#160;describes&#160;an uncertainty as to going
concern)&#160;appearing elsewhere herein and in the registration statement, and
are included in reliance upon such report given upon the authority of said firm
as experts in auditing and accounting.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DISCLOSURE
OF COMMISSION POSITION <a name="disclosure">OF INDEMNIFICATION </a>FOR SECURITIES
ACT LIABILITIES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
directors and officers are indemnified as provided by the Nevada Statutes and
our articles of incorporation. We have been advised that in the opinion of the
Securities and Exchange Commission, indemnification for liabilities arising
under the Securities Act of 1933 is against public policy as expressed in the
Securities Act of 1933, and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities is asserted by one of our
directors, officers, or controlling persons in connection with the securities
being registered, we will, unless in the opinion of our legal counsel the matter
has been settled by controlling precedent, submit the question whether such
indemnification is against public policy to a court of appropriate jurisdiction.
We will then be governed by the court's decision.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">50</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CHANGES
IN AND DISAGREEM<a name="changesin">ENTS </a>WITH ACCOUNTANTS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ON
ACCOUNTING AND FINANCIAL DISCLOSURE</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
8, 2007, we terminated Chang G. Park, CPA, as our independent registered public
accounting firm, we had no disagreement with&#160;Chang
G.&#160;Park, CPA . The decision to dismiss Chang G.
Park, CPA was unanimously determined and approved by our board of
directors.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The audit
reports of Chang G. Park, CPA on the consolidated
financial statements of the Company as of and for the years ended September 30,
2006 and 2005 did not contain any adverse opinion or disclaimer of opinion, nor
were such reports qualified or modified as to uncertainty, audit scope or
accounting principle. During the fiscal years ended September 30, 2006 and 2005
and the subsequent interim period through March 8, 2007, there were no
disagreements with Chang G. Park, CPA on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of Chang G. Park, CPA , would have
caused him to make reference thereto in his reports on the financial statements for such
years.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the audits of the two fiscal years ended September 30, 2005 and
2006 and the subsequent interim period through March 8, 2007, there were no
&#8220;reportable events&#8221; (as defined in Item 304(a)(1)(v) of Regulation
S-K).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
8, 2007, upon authorization and approval of our board of directors, we engaged
Sherb &amp; Co. as our company&#8217;s independent registered public accounting
firm.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;During
our fiscal years ended September 30, 2005 and 2006 and the subsequent interim
period through March 8, 2007, neither we nor anyone acting on our behalf
consulted with Sherb and Co. regarding either (i) the application of accounting
principles to a specific transaction, either completed or proposed, or the type
of audit opinion that might be rendered on our financial statements or (ii) any
matter that was either the subject of a disagreement (as such term is defined in
Item 304(a)(1)(iv) of Regulation S-K), or a reportable event (as such term is
described in Item 304(a)(1)(v) of Regulation S-K).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="avail">AVAILABLE INFORMATION</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
filed a Registration Statement on Form S-1 under the Securities Act of 1933 with
the Securities and Exchange Commission with respect to the shares of our common
stock offered through this prospectus. This prospectus is filed as a part of
that registration statement and does not contain all of the information
contained in the registration statement and exhibits. We refer you to our
registration statement and each exhibit attached to it for a more complete
description of matters involving us, and the statements we have made in this
Prospectus are qualified in their entirety by reference to these additional
materials. You may inspect the registration statement and exhibits and schedules
filed with the Securities and Exchange Commission at the Commission&#8217;s principal
office in Washington, D.C. Copies of all or any part of the registration
statement may be obtained from the Public Reference Section of the Commission,
Room 1580, 100 F Street NE, Washington DC 20549. Please call the Commission at
1-800-SEC-0330 for further information on the operation of the public reference
rooms. The Commission also maintains a web site at <font style="DISPLAY: inline; TEXT-DECORATION: underline">http://www.sec.gov</font>
that contains reports, proxy statements and information regarding registrants
that file electronically with the SEC. In addition, we
file electronic versions of our annual, quarterly and current reports on
the Commission&#8217;s Electronic Data Gathering Analysis and Retrieval, or EDGAR
System.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">51</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="index">FINANCIAL STATEMENTS</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CELSIUS
HOLDINGS, INC.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Index
to Financial Statements</font></div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial
      statements September 30, 2009</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Page
      Number</font></font></font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Condensed
      Consolidated Balance Sheets at&#160;September 30, 2009
      (unaudited)</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>and December 31,
      2008&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-2</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Condensed
      Consolidated Statements of Operations for three months</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>and&#160;nine months
      ended&#160;September 30, 2009 and 2008
      (unaudited)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-3</font></div>
                </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Condensed
      Consolidated Statements of Cash Flows for</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>nine&#160;months
      ended&#160;September 30, 2009 and 2008
      (unaudited)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-4</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Notes
      to Condensed Consolidated Financial Statements</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">for&#160;nine
      months ended September 30, 2009
      (unaudited)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-5
      - F-21</font></div>
                </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Financial
      statements December 31, 2008</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Report
      of Independent Registered Public Accounting
      Firm&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-22</font></div>
                </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Balance Sheet as of December 31, 2008 and</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>December 31,
      2007&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-23</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Operations for the years ended</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>December 31, 2008 and
      2007&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-24</font></div>
                </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Changes in Stockholders' Deficit</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>for the years ended December 31,
      2008 and
      2007&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-25</font></div>
                </td>
              </tr><tr bgcolor="white">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Cash Flows for the years ended</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>December 31, 2008 and
      2007&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-26</font></div>
                </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Notes
      to Consolidated Financial Statements</font></div>
                </td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="top" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font>for the year ended December 31,
      2008&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td valign="top" width="12%" style="TEXT-ALIGN: right">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">F-27
      - F-44</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    </div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-1</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div align="left">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Celsius
      Holdings, Inc. and Subsidiaries</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Condensed
      Consolidated Balance Sheets</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td colspan="3" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="3" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font></font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td align="left" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="right" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(unaudited)</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="9" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ASSETS</font> </div>
                </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current
      assets:</font> </div>
                </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      and cash equivalents</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">647,598</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,040,633</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      receivable, net</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">627,450</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">192,779</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories,
      net</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,526,880</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">505,009</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      current assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">240,088</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,155</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      current assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,042,016</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,750,576</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property,
      fixtures and equipment, net</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">190,819</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">183,353</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Note
      receivable</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">250,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      long-term assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,251,675</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,202,769</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">LIABILITIES
      AND STOCKHOLDERS&#8217; (DEFICIT) EQUITY</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current
      liabilities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      payable and accrued expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,354,993</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">612,044</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loans
      payable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Short
      term portion of other liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">22,413</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26,493</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Due
      to related parties, short-term portion</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,580,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">120,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      current liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,972,406</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">853,537</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, net of debt discount</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">242,539</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">562,570</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, net of debt</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;discount,
      related parties</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,172,742</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Due
      to related parties, long-term</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125,349</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">700,413</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60,148</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75,022</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,573,184</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,191,542</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stockholders&#8217;
      (Deficit) Equity:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Preferred
      stock, $0.001 par value; 50,000,000 shares</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">authorized,
      6,092 shares and 4,000 shares issued and outstanding,
      respectively</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      stock, $0.001 par value: 1,000,000,000 shares</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;authorized,
      153 million and 149 million shares issued and outstanding,
      respectively</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">152,615</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">148,789</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional
      paid-in capital</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14,244,067</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,244,802</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated
      deficit</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(16,718,197</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,382,368</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Stockholders&#8217; (Deficit) Equity</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,321,509</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,227</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Liabilities and Stockholders&#8217; (Deficit) Equity</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,251,675</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,202,769</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
        <div>&#160;</div>
      </div>
    </div>
    <div>
      <div><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></font>Derived from
audited financial statements.</div>
      <div>&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements</font></div>
      </div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-2</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="16" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">C</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">elsius Holdings, Inc. and
      Subsidiaries</font></font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td colspan="16" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Condensed
      Consolidated Statements of Operations</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td colspan="16" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(unaudited)</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="6" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="6" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="6" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      the Three Months</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ended
      September 30,</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="6" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      the Nine months</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ended
      September 30,</font></div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="52%" style="PADDING-LEFT: 2%; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      revenue</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,343,002</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">435,484</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,480,475</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,968,975</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%" style="PADDING-LEFT: 2%; PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost
      of revenue</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">766,553</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">456,293</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,987,389</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,386,509</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="52%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross
      profit</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">576,449</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(20,809</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,493,086</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">582,466</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="52%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%" style="PADDING-LEFT: 2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      and marketing expenses</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,620,103</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,356,642</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,295,383</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,909,993</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%" style="PADDING-LEFT: 2%; PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">General
      and administrative expenses</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">624,007</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">434,182</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,427,747</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,322,579</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="52%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      from operations</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,667,661</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,811,633</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,230,044</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,650,106</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="52%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      expense:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%" style="PADDING-LEFT: 2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest
      expense, related party</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31,383</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,085</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44,864</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6,923</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%" style="PADDING-LEFT: 2%; PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      interest expense, net</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,861</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">27,507</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60,921</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">285,459</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="52%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      other expense</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50,244</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32,592</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105,785</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">292,382</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="52%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,717,905</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,844,225</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,335,829</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,942,488</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="52%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Basic
      and diluted:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Weighted
      average shares outstanding</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">150,842,575</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">136,388,430</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">149,774,074</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">122,626,170</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Loss
      per share</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.02</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.01</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.04</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.03</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              </tr></table>
        </div>
      </div>
      <div>&#160;</div>
      <div style="TEXT-ALIGN: center">The accompanying notes are an integral part of
these unaudited condensed consolidated financial statements</div>
      <div style="TEXT-ALIGN: center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-3</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>&#160;</div>
      <div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -9.9pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Celsius
      Holdings, Inc. and Subsidiaries</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -9.9pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Condensed
      Consolidated Statements of Cash Flows</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -9.9pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(unaudited)</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="6" valign="bottom">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      the Nine months Ended September 30</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td align="left" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      flows from operating activities:</font> </div>
                </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,335,829</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,942,488</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Adjustments
      to reconcile net loss to net cash</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">used
      in operating activities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Depreciation</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40,035</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">20,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Loss
      on disposal of assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">804</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Adjustment
      to allowance for doubtful accounts</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(31,800</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41,721</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Adjustment
      to reserve for inventory obsolescence</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(158,297</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">140,456</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Issuance
      of stock options</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">346,826</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">165,140</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Amortization
      of debt discount</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">42,523</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">199,581</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Issuance
      of shares as compensation</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30,125</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">125,450</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Changes
      in operating assets and liabilities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Accounts
      receivable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(402,871</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,864</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Inventories</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(863,574</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(303,474</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Prepaid
      expenses and other current assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(227,933</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,993</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Deposit
      from customer</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(400,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Accounts
      payable and accrued expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">742,949</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">133,231</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash used in operating activities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,817,846</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,818,450</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      flows from investing activities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Purchases
      of property, fixtures and equipment</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(47,501</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(135,165</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash used in investing activities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(47,501</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(135,165</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      flows from financing activities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Proceeds
      from sale of common stock</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;and
      exercise of stock options</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">74,142</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">799,312</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Proceeds
      from sale of preferred stock</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,000,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Proceeds
      from convertible notes</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,000,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">990,900</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Proceeds
      from note payable, related party</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,550,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,000,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Proceeds
      from loans payable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80,162</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Repayment
      of loans payable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(98,954</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(325,870</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Repayment
      of debt to related parties</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(52,876</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(54,004</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash provided by financing activities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,472,312</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,990,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Decrease
      in cash</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(393,035</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36,885</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash,
      beginning of period</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,040,633</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">257,482</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash,
      end of period</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">647,598</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">294,367</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Supplemental disclosures of
      cash flow information</font>:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Cash
      paid during the year for interest</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79,600</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">154,846</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;Cash
      paid during the year for taxes</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Non-Cash Investing and
      Financing Activities</font>:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of shares for note payable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,696,555</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div>&#160;</div>
      <div style="TEXT-ALIGN: center">The accompanying notes are an integral part of
these unaudited condensed consolidated financial statements</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements</font></div>
      </div>
      <div>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ORGANIZATION
      AND DESCRIPTION OF BUSINESS</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. (f/k/a Vector Ventures Corp.) (the &#8220;Company&#8221;) was incorporated
under the laws of the State of Nevada on April 26, 2005. The Company was formed
to engage in the acquisition, exploration and development of natural resource
properties. On December 26, 2006 the Company amended its Articles of
Incorporation to change its name from Vector Ventures Corp. as well as increase
the authorized shares to 350 million, $0.001 par value common shares and 50
million, $0.001 par value preferred shares.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. operates in United States through its wholly-owned subsidiaries,
Celsius Inc., which acquired the operating business of Elite FX, Inc. (&#8220;Elite&#8221;)
through a reverse merger on January 26, 2007, and Celsius Netshipments, Inc.
Celsius, Inc. was incorporated in Nevada on January 18, 2007, and merged with
Elite FX, Inc. (&#8220;Elite&#8221;) on January 26, 2007 (the &#8220;Merger&#8221;), which was
incorporated in Florida on April 22, 2004. Celsius, Inc. is in the business of
developing and marketing healthier beverages in the functional beverage category
of the beverage industry. Celsius was Elite&#8217;s first commercially available
product. Celsius is a beverage that burns calories. Celsius is currently
available in five sparkling flavors: cola, ginger ale, lemon/lime, orange and
wild berry, and two non-carbonated green teas: peach/mango and raspberry/acai.
Celsius is also available in its On-the-go packets. Celsius Netshipments, Inc.,
incorporated in Florida on March 29, 2007, distributes the Celsius beverage via
the internet.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prior to
January 26, 2007, the Company was in the exploration stage with its activities
limited to capital formation, organization, development of its business plan and
acquisition of mining claims. On January 24, 2007, the Company entered into a
merger agreement and plan of reorganization with Celsius, Inc., a Nevada
corporation and wholly-owned subsidiary of the Company (&#8220;Sub&#8221;), Elite FX, Inc.,
a Florida corporation (&#8220;Elite&#8221;), and Steve Haley, the &#8220;Indemnifying Officer&#8221; and
&#8220;Securityholder Agent&#8221; of Elite, (the &#8220;Merger Agreement&#8221;). Under the terms of
the Merger Agreement Elite was merged into Sub and became a wholly-owned
subsidiary of the Company on January 26, 2007 (the &#8220;Merger&#8221;).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
terms of the Merger Agreement, the Company issued</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">70,912,246
      shares of its common stock to the stockholders of Elite, including
      1,337,246 shares of common stock issued as compensation, as full
      consideration for the shares of
Elite;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">warrants
      to Investa Capital Partners Inc. to purchase 3,557,812 shares of common
      stock of the Company for $500,000, the warrants were exercised in February
      2007;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1,391,500
      shares of its common stock as partial consideration of termination of a
      consulting agreement and assignment of certain trademark rights to the
      name &#8220;Celsius&#8221;;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">options
      to purchase 10,647,025 shares of common stock of the Company in
      substitution for the options currently outstanding in
    Elite;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1,300,000
      shares of its common stock concurrent with the Merger in a private
      placement to non-US resident investors for aggregate consideration of
      US$650,000 which included the conversion of a $250,000 loan to the
      Company.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">
        <div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc&#8217;s majority stockholder, Mr. Kristian Kostovski, cancelled
7,200,000 shares of common stock of the Company held by him shortly after the
close of the Merger Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
financial accounting purposes, the Merger was treated as a recapitalization of
Celsius Holdings, Inc with the former stockholders of Celsius Holdings, Inc
retaining approximately&#160;24.6% of&#160;the outstanding stock. This
transaction has been accounted for as a reverse acquisition and accordingly the
transaction has been treated as a recapitalization of&#160;Elite, with
Elite&#160;as the accounting acquirer. The historical financial statements are a
continuation of the financial statements of the accounting acquirer, and any
difference of the capital structure of the merged entity as compared to the
accounting acquirer&#8217;s historical capital structure is due to the
recapitalization of the acquired entity.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">After the
merger with Elite FX the Company changed its business to become a manufacturer
of beverages. The calorie burning beverage Celsius<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font> is
the first brand of the Company.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BASIS
      OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING
    POLICIES</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
unaudited condensed consolidated financial statements included herein have been
prepared by us, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission, (the &#8220;SEC&#8221;). Certain information and
footnote disclosures normally included in annual financial statements prepared
in accordance with generally accepted accounting principles in the United States
(&#8220;GAAP&#8221;) have been condensed or omitted pursuant to such rules and regulations.
In the opinion of management, the interim consolidated financial statements
reflect all adjustments (consisting only of normal recurring adjustments)
necessary for a fair presentation of the statement of the results for the
interim periods presented.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;In
June&#160;2009, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued
Accounting Standards Codification (&#8220;ASC&#8221;) 105, FASB Accounting Standards
Codification (&#8220;ASC 105&#8221;). The statement confirmed that the FASB Accounting
Standards Codification (the &#8220;Codification&#8221;) is the single official source of
authoritative GAAP (other than guidance issued by the SEC), superseding existing
FASB, American Institute of Certified Public Accountants, Emerging Issues Task
Force, and related literature. The Codification does not change GAAP. Instead,
it introduces a new structure that is organized in an easily accessible,
user-friendly online research.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Going
Concern</font> &#8212; The accompanying unaudited consolidated financial statements
are presented on a going concern basis. The Company has suffered losses from
operations that raise substantial doubt about its ability to continue as a going
concern.&#160;Management is currently seeking new capital or debt financing to
provide funds needed to increase liquidity, fund growth, and implement its
business plan. However, no assurances can be given that the Company will be able
to raise any additional funds. If not successful in obtaining financing, the
Company will have to substantially diminish or cease its operations. The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Consolidation
Policy</font> &#8212; The accompanying consolidated financial statements include the
accounts of Celsius Holdings, Inc. and subsidiaries. All material inter-company
balances and transactions have been eliminated in consolidation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Significant
Estimates</font> &#8212; The preparation of condensed consolidated financial
statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions
that affect the reported amounts of assets, liabilities, revenue and expenses
and disclosure of contingent assets and liabilities at the date of the financial
statements. Actual results could differ from those estimates, and such
differences could affect the results of operations reported in future
periods.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Concentrations of
Risk</font> &#8212; Substantially all of the Company&#8217;s revenue is derived from the
sale of the Celsius beverage.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company uses single supplier relationships for its raw materials purchases,
which potentially subjects the Company to a concentration of business risk. If
these suppliers had operational problems or ceased making product available to
the Company, operations could be adversely affected.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
instruments that potentially subject the Company to concentrations of credit
risk consist primarily of cash and cash equivalents. The Company places its cash
and cash equivalents with high-quality financial institutions. At times,
balances in the Company&#8217;s cash accounts may exceed the Federal Deposit Insurance
Corporation limit.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Cash and Cash
Equivalents</font> &#8212; The Company considers all highly liquid instruments with
maturities of three months or less when purchased to be cash equivalents. At
September 30, 2009 and December 31, 2008, the Company did not have any
investments with maturities greater than three months.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Accounts
Receivable</font> &#8212; Accounts receivable are reported at net realizable value.
The Company has established an allowance for doubtful accounts based upon
factors pertaining to the credit risk of specific customers, historical trends,
and other information. Delinquent accounts are written-off when it is determined
that the amounts are uncollectable. At September 30, 2009 and December 31, 2008,
there was an allowance for doubtful accounts of $21,301 and $53,101,
respectively. During the nine months ended September 30, 2009, the Company
recognized a reduction to allowance for doubtful accounts of
$31,800.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Inventories</font>
&#8212; Inventories include only the purchase cost and are stated at the lower of cost
or market. Cost is determined using the FIFO method. Inventories consist of raw
materials and finished products. The Company writes down inventory during the
period in which such materials and products are no longer usable or marketable.
At September 30, 2009 and December 31, 2008, there was an allowance for
obsolescence of $48,748 and $207,045, respectively. During the nine months ended
September 30, 2009, the Company wrote down inventory by $158,297.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Property,
Fixtures, and Equipment</font> &#8212; Furniture, fixtures and equipment are stated at
cost less accumulated depreciation and amortization. Depreciation of furniture,
fixtures, and equipment is calculated using the straight-line method over the
estimated useful life of the asset generally ranging from three to seven years.
Depreciation expense recognized in the first nine months of 2009 was
$40,035.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-7</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Impairment of
Long-Lived Assets</font> &#8212; Asset impairments are recorded when the carrying
values of assets are not recoverable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company reviews long-lived assets to be held and used for impairment whenever
events or changes in circumstances indicate that the carrying amount of an asset
may not be recoverable, or at least annually. If the sum of the undiscounted
expected future cash flows is less than the carrying amount of the asset, the
Company recognizes an impairment loss. Impairment losses are measured as the
amount by which the carrying amount of assets exceeds the fair value of the
asset. When fair values are not available, the Company estimates fair value
using the expected future cash flows discounted at a rate commensurate with the
risks associated with the recovery of the asset.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company did not recognize an impairment charge during the first nine months of
2009 or 2008, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Intangible
Assets</font> &#8212; Intangible assets consist of the web domain name Celsius.com and
other trademarks and trade names, and are subject to annual impairment tests.
Based upon impairment analyses performed in fiscal years 2009 and 2008,
impairment was recorded of nil and $41,500, respectively. The impairment
recorded was for expenses for trademarks.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Revenue
Recognition</font> &#8212; Revenue is recognized when the products are delivered,
invoiced at a fixed price and the collectability is reasonably assured. Any
discounts, sales incentives or similar arrangement with the customer is
estimated at time of sale and deducted from revenue.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Advertising
Costs</font> &#8212; Advertising costs are expensed as incurred. The Company uses
mainly radio, local sampling events and printed advertising. The Company
incurred expenses of $2.2 million and $1.2 million, during the first nine months
of 2009 and 2008, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Research and
Development</font> &#8212; Research and development costs are charged to operations as
incurred and consist primarily of consulting fees, raw material usage and test
productions of new products. The Company incurred expenses of $46,000 and
$245,000, during the first nine months of 2009 and 2008,
respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Fair Value of
Financial Instruments</font> &#8212; The carrying value of cash, accounts receivable,
and accounts payable approximates fair value. The carrying value of debt
approximates the estimated fair value due to floating interest rates on the
debt.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Income
Taxes</font> &#8212; Income taxes are accounted for using an asset and liability
approach that requires the recognition of deferred tax assets and liabilities
for the expected future tax consequences of events that have been recognized in
the Company&#8217;s financial statements or tax returns. In estimating future tax
consequences, the Company generally considers all expected future events other
than changes in the tax law or rates. A valuation allowance is recorded when it
is deemed more likely than not that a deferred tax asset will be not
realized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Earnings per
Share </font>&#8212; Basic earnings per share are calculated by dividing income
available to stockholders by the weighted-average number of common shares
outstanding during each period. Diluted earnings per share are computed using
the weighted average number of common and dilutive common share equivalents
outstanding during the period. Dilutive common share equivalents consist of
shares issuable upon the exercise of stock options, convertible notes and
warrants (calculated using the reverse treasury stock method). As of September
30, 2009 there were options outstanding to purchase 19.3 million shares, which
exercise price averaged $0.22. The dilutive common shares equivalents, including
convertible notes, preferred stock and warrants, of 140.6 million shares were
not included in the computation of diluted earnings per share, because the
inclusion would be anti-dilutive.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-8</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="bottom" width="55%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Dilutive common shares
      equivalent table</font></font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">shares</font></font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">USD</font></font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: bold">Dilutive
      shar</font>es</font></font></font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Series
      A preferred stock</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,081</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26,012,500</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Series
      B preferred stock</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,011</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80,220,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      debt</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 60pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CDS
      Ventures of South Florida, LLC</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,000,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,000,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 60pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lucille
      Santini</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">615,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,537,500</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 60pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Golden
      Gate Investors, Inc.</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">346,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,153,718</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrants
      (in the money)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19,500,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,487,395</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Stock options (in the
money)</font></font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,072,085</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">11,180,221</font></font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="55%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 25pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      dilutive common shares</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">140,591,334</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="55%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If all
dilutive instruments were exercised using the reverse treasury stock method,
then the total number of shares outstanding would be 293.2 million
shares.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Reclassifications</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font>&#8212;
Certain amounts have been reclassified to conform to the current period
presentation, such reclassifications had no effect on the reported net
loss.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Recent Accounting
Pronouncements</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2006, the FASB issued guidance in the Fair Value Measurements and
Disclosures Topic of the Codification. This guidance defines fair value,
establishes a framework for measuring fair value in generally accepted
accounting principles and expands disclosures about fair value measurements. In
February 2008, the FASB deferred the effective date of this guidance for one
year for all nonfinancial assets and nonfinancial liabilities, except for those
items that are recognized or disclosed at fair value in the financial statements
on a recurring basis (at least annually).&#160;&#160;The Company adopted the
guidance effective January 1, 2008 for all financial assets and
liabilities.&#160;&#160;As of January 1, 2009, the Company adopted the guidance
for all non-financial assets and all non-financial liabilities.&#160;&#160;There
is no impact on the Company&#8217;s financial statements as of September 30,
2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, the FASB issued guidance in the Business Combinations Topic of
the Codification.&#160;&#160;This guidance requires the acquiring entity in a
business combination to record all assets acquired and liabilities assumed at
their respective acquisition-date fair values including contingent
consideration.&#160;&#160;In addition, this guidance changes the recognition of
assets acquired and liabilities assumed arising from pre-acquisition
contingencies and requires the expensing of acquisition-related costs as
incurred.&#160;&#160;The guidance applies prospectively to business combinations
for which the acquisition date is on or after January 1, 2009.&#160;&#160;The
Company adopted this guidance effective January 1, 2009.&#160;&#160;Any impact
would be on future acquisitions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2007, the FASB issued guidance in the Consolidation Topic of the
Codification on the accounting for non-controlling interests in consolidated
financial statements.&#160;&#160;This guidance clarifies the classification of
non-controlling interests in consolidated statements of financial position and
the accounting for and reporting of transactions between the reporting entity
and holders of such non-controlling interests.&#160;&#160;This guidance is
effective as of the</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-9</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
        <div>&#160;</div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">beginning
of an entity&#8217;s first fiscal year that begins on or after December 15, 2008 and
is required to be adopted prospectively, except for the reclassification of
non-controlling interests to equity and the recasting of net income (loss)
attributable to both the controlling and non-controlling interests, which are
required to be adopted retrospectively.&#160;&#160;The Company adopted this
guidance effective January 1, 2009.&#160;&#160;There is no impact on the
Company&#8217;s financial statements as of September 30, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2008, the FASB issued guidance in the Intangibles-Goodwill and Other Topic of
the Codification on the determination of the useful life of an intangible
asset.&#160;&#160;This guidance amends the factors that should be considered in
developing renewal or extension assumptions used to determine the useful life of
a recognized intangible asset.&#160;&#160;This statement is effective for
financial statements issued for fiscal years beginning after December 15, 2008,
and interim periods within those fiscal years.&#160;&#160;The Company adopted
this guidance effective January 1, 2009.&#160;&#160;There is no impact on the
Company&#8217;s financial statements as of September 30, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2008, FASB issued guidance in the Earnings Per Share Topic of the Codification
on determining whether instruments granted in share-based payment transactions
are participating securities.&#160;&#160;The guidance clarified that all
unvested share-based payment awards that contain non-forfeitable rights to
dividends are participating securities and provides guidance on how to compute
basic EPS under the two-class method.&#160;&#160;The guidance is effective for
financial statements issued for fiscal years beginning after December 15, 2008,
and interim periods within those fiscal years.&#160;&#160;The Company adopted
this guidance effective January 1, 2009 and it had no impact on its financial
statements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2009, the FASB issued guidance in the Fair Value Measurements and Disclosures
Topic of the Codification on determining fair value when the volume and level of
activity for an asset or liability have significantly decreased and identifying
transactions that are not orderly.&#160;&#160;The guidance emphasizes that even
if there has been a significant decrease in the volume and level of activity,
the objective of a fair value measurement remains the same.&#160;&#160;Fair
value is the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction (that is, not a forced liquidation or
distressed sale) between market participants.&#160;&#160;The guidance provides a
number of factors to consider when evaluating whether there has been a
significant decrease in the volume and level of activity for an asset or
liability in relation to normal market activity.&#160;&#160;In addition, when
transactions or quoted prices are not considered orderly, adjustments to those
prices based on the weight of available information may be needed to determine
the appropriate fair value.&#160;&#160;The guidance is effective for interim or
annual reporting periods ending after June 15, 2009, and shall be applied
prospectively.&#160;&#160;The Company adopted this guidance effective for the
quarter ending June 30, 2009.&#160;&#160;There is no impact of the adoption on
the Company&#8217;s financial statements as of September 30, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2009, FASB issued guidance in the Financial Instruments Topic of the
Codification on interim disclosures about fair value of financial
instruments.&#160;&#160;The guidance requires disclosures about the fair value
of financial instruments for both interim reporting periods, as well as annual
reporting periods.&#160;&#160;The guidance is effective for all interim and
annual reporting periods ending after June 15, 2009 and shall be applied
prospectively.&#160;&#160;The adoption of this guidance had no impact on our
financial statements as of September 30, 2009, other than the additional
disclosure.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-10</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The FASB
issued guidance in the Subsequent Events Topic of the Codification in May
2009.&#160;&#160;The guidance is intended to establish general standards of
accounting for, and disclosure of, events that occur after the balance sheet
date but before financial statements are issued.&#160;&#160;It requires the
disclosure of the date through which an entity has evaluated subsequent events
and the basis for that date. The guidance is effective for interim or annual
financial periods ending after June 15, 2009 and is required to be adopted
prospectively.&#160;&#160;The Company adopted this guidance effective for the
quarter ending June 30, 2009.&#160;&#160;The adoption of this guidance had no
impact on its financial statements as of September 30, 2009, other than the
additional disclosure.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2009, the FASB issued guidance which will amend the Consolidation Topic of the
Codification.&#160;&#160;The guidance addresses the effects of eliminating the
qualifying special-purpose entity (QSPE) concept and responds to concerns over
the transparency of enterprises&#8217; involvement with variable interest entities
(VIEs).&#160;&#160;The guidance is effective beginning on January 1,
2010.&#160;&#160;The Company does not expect the adoption of this guidance to
have an impact on its financial statements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August
2009, the FASB issued Accounting Standards Update No. 2009-05, &#8220;Measuring
Liabilities at Fair Value&#8221; (ASU 2009-05).&#160;&#160;ASU 2009-05 amends the Fair
Value Measurements and Disclosures Topic of the FASB Accounting Standards
Codification by providing additional guidance clarifying the measurement of
liabilities at fair value.&#160;&#160;ASU 2009-05 is effective for us for the
reporting period ending December 31, 2009.&#160;&#160;The Company does not
expect the adoption of ASU 2009-05 to have an impact on its financial
statements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INVENTORIES</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inventories
consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div align="right">
          <table cellpadding="0" cellspacing="0" width="98%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Finished
      goods</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,466,381</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">581,970</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Raw
      Materials</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">109,247</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">130,084</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      inventory valuation allowance</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(48,748</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(207,045</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories,
      net</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,526,880</font>
    </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">505,009</font>
    </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      CURRENT ASSETS</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
current assets at September 30, 2009 and December 31, 2008 consist of prepaid
slotting fees, deposits on purchases, prepaid insurance, other accounts
receivable and accrued interest receivable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-11</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PROPERTY,
      FIXTURES, AND EQUIPMENT</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property,
fixtures and equipment consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div align="right">
          <table cellpadding="0" cellspacing="0" width="98%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Furniture,
      fixtures and equipment</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">275,883</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">228,332</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      accumulated depreciation</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(85,064</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(44,979</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">190,819</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">183,353</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation
expense amounted to $40,035 and $20,000 during the first nine months of 2009 and
2008, respectively</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      LONG-TERM ASSETS</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
long-term assets consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div align="right">
          <table cellpadding="0" cellspacing="0" width="98%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long
      term deposit on office lease</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Intangible
      assets</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41,500</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41,500</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      Impairment of intangible assets</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(41,500</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(41,500</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
      RECEIVABLE</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note
receivable from Golden Gate Investors, Inc. (&#8220;GGI&#8221;) was as of September 30, 2009
and December 31, 2008, nil and $250,000, respectively. On September 8, 2009, the
Company and GGI agreed to amend the underlying securities purchase agreement by
which the note receivable was netted against the convertible debenture. The
Company has an outstanding debenture to the same company in the amount of
$346,000. Also see Note 12&#160;&#160;-&#160;&#160;Long term
debenture.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ACCOUNTS
      PAYABLE AND ACCRUED EXPENSES</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounts
payable and accrued expenses consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div align="right">
          <table cellpadding="0" cellspacing="0" width="98%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" colspan="2" valign="bottom" width="13%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      payable</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">708,754</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">411,185</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      expenses</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">551,835</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">200,859</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      expenses</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">94,404</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,354,993</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">612,044</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DUE
      TO RELATED PARTIES</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
related parties consists of the following:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div align="right">
          <table cellpadding="0" cellspacing="0" width="96%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" valign="bottom" width="70%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Notes payable</font></font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="bottom" width="70%" style="TEXT-ALIGN: justify">
                  <div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company entered into a loan and security agreement in December 2008 with
      CD Financial, LLC, pledging all our assets as security. The line of credit
      is for $1.0 million, with interest at LIBOR plus 3 percentage points. The
      line expires in December 2009 and is renewable.</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">550,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-12</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">
          <div align="right">
            <table cellpadding="0" cellspacing="0" width="96%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td align="left" valign="bottom" width="70%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Notes payable (continued) </font></font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td valign="bottom" width="70%" style="TEXT-ALIGN: justify">
                    <div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company received advances from one of its shareholders at various
      instances during 2004 and 2005, $76,000 and $424,000, respectively. The
      note was refinanced in September 2009 for a convertible note, see below
      and Note 13.</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">643,916</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr></table>
          </div>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          <div align="right">
            <table cellpadding="0" cellspacing="0" width="96%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td valign="bottom" width="70%" style="TEXT-ALIGN: justify">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company issued a note to CDS Ventures of Florida, LLC in August 2009. The
      note was refinanced in September 2009 and carries with interest at six
      percent per annum. The note is due on February 28, 2010.<font id="TAB1" style="MARGIN-LEFT: 12pt"></font></font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,000,000</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: justify">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company&#8217;s CEO loaned the Company $50,000 in February 2006. Moreover, the
      Company accrued salary for the CEO from March of 2006 through May 2007 for
      a total of $171,000. In August 2008, the total debt was refinanced, has no
      collateral and accrues interest at 3%; monthly payments of $5,000 are due
      with a balloon payment of $64,000 in January 2011.</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">155,349</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">176,497</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td valign="bottom" width="70%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">1,735,349</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">820,413</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      Short-term portion</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(1,580,000</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(120,000</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                </tr><tr>
                  <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-term
      portion</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">155,349</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">700,413</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td valign="bottom" width="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td align="left" valign="bottom" width="70%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Convertible note payable</font></font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td align="left" valign="bottom" width="70%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, related party see Note 13<font id="TAB1" style="MARGIN-LEFT: 12pt"></font></font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,741,296</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                  <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Convertible note payable, related
      party see Note 13</font></font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">431,446</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">-</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, long
      term&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2,172,742</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">-</font></font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr></table>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also, see
Note 13 &#8211; Convertible Note payable, related parties, and Note 14 &#8211; Related party
transactions.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">LOANS
      PAYABLE</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loans
payable consist of the following as of:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">
          <div align="right">
            <table cellpadding="0" cellspacing="0" width="96%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td align="left" valign="bottom" width="70%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">&#160;</font></div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -13.5pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td valign="bottom" width="70%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2009</font></font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                  </td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr><tr>
                  <td align="left" valign="bottom" width="70%" style="PADDING-BOTTOM: 4px">
                    <div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company terminated a consulting agreement and received in assignment the
      rights to the trademark &#8220;Celsius&#8221; from one of its former directors.
      Payment was issued in the form of an interest-free note payable for
      $250,000 and 1,391,500 shares of common stock. The note called for monthly
      amortization of $15,000 beginning March 30, 2007 with final payment of the
      remaining outstanding balance on November 30, 2007. The Company has not
      fulfilled its obligation and is paying the debt off at a slower
      pace.</font></div>
                    </div>
                  </td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,000</font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                  <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95,000</font></td>
                  <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr></table>
          </div>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-13</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      LIABILITIES</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2006 and 2008, the Company acquired a copier and 8 delivery vans, all of them
financed. The outstanding balance on the aggregate loans as of September 30,
2009 and December 31, 2008 was $82,561 and $101,515, respectively, of which
$22,413 and $26,493, is due during the next 12 months, respectively. The loans
carry interest ranging from 5.4% to 9.1%. The total monthly principal payment is
$2,099. The assets that were purchased are collateral for the
loans.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONVERTIBLE
      NOTE PAYABLE, OTHER</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 19, 2007, we entered into a securities purchase agreement with Golden
Gate Investors, Inc (&#8220;GGI&#8221;). The agreement included four tranches of $1,500,000
each. The first tranche consisted of a 7.75% convertible debenture (the
&#8220;Debenture&#8221;) issued by the Company, in exchange for $250,000 in cash and a
promissory note for $1,250,000 issued by GGI which was to mature on February 1,
2012. The promissory note contained a prepayment provision which required GGI to
make prepayments of interest and principal of $250,000 monthly upon satisfaction
of certain conditions. One of the conditions to prepayment was that GGI may
immediately sell all of the Common Stock Issued at Conversion (as defined in the
Debenture) pursuant to Rule 144 of the Securities Act of 1933. The Company was
under no contractual obligation to ensure that GGI may immediately sell all of
the Common Stock Issued at Conversion pursuant to Rule 144. In the event that
GGI could not immediately sell all of the Common Stock Issued at Conversion
pursuant to Rule 144, GGI would be under no obligation to prepay the promissory
note and likewise under no obligation to exercise its conversion rights under
the Debenture. If GGI did not fully convert the Debenture by its maturity on
December 19, 2011, the balance of the Debenture was to be offset by any balance
due to the Company under the promissory note. The balance of the Debenture can
be converted at any time with a conversion price as the lower of (i) $1.00, or
(ii) 80% of the average of the three lowest daily volume weighted average price
during the 20 trading days prior to GGI&#8217;s election to convert. The Company was
not obligated to convert the amount requested to be converted into Company
common stock, if the conversion price was less than $0.20 per share. GGI&#8217;s
ownership in the company could not exceed 4.99% of the outstanding common stock.
Under certain circumstances the Company could have been forced to pre-pay the
debenture with a fifty percent penalty of the pre-paid amount.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">GGI did
not make its note payment due on October 21, 2008.&#160;&#160;On September 8,
2009, the Company entered into an addendum to the agreement with GGI. The
balance of the note receivable, $250,000 was netted against the balance of the
Debenture. The outstanding balance of the debenture as of September 20, 2009 was
$346,000. All future tranches were cancelled and terminated without penalty to
either party.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company recorded a debt discount of $186,619 with a credit to additional paid in
capital for the intrinsic value of the beneficial conversion feature of the
conversion option at the time of issuance. The debt discount is being amortized
over the term of the debenture. The Company recorded $34,969 as interest expense
amortizing the debt discount during the first nine months of 2009 and 2008,
respectively. The Company considered requirements by the Derivatives and Hedging
Topic of the FASB Accounting Standards Codification (&#8220;ASC&#8221;) and other guidance
and concluded that the conversion option should not be bifurcated from the host
contract and the conversion option is recorded as equity and not a
liability.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-14</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Company received $1,000,000 in payment on the note receivable. From
June 2008 to June 2009, the Company converted $879,000 of the debenture to
approximately 18.0 million shares of Common Stock and the Company paid $25,000
of the debenture in cash. The outstanding liability, net of debt discount, as of
September 30, 2009 and December 31, 2008 was $242,538 and $562,570,
respectively. Subsequent to the end of the period, GGI has converted additional
$210,000 of the debenture for 700,233 shares of Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">13.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONVERTIBLE
      NOTE PAYABLE, RELATED PARTIES</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company entered into a loan agreement for up to $6.5 million in September, 2009
and issued a convertible note to one of its shareholders. The Company had drawn
$2.0 million as of September 20, 2009. The note carries interest of one month
LIBOR plus 3%, payable the first time on the anniversary of the agreement,
thereafter quarterly. The loan matures on September 9, 2012. The outstanding
balance can be immediately converted into the Company&#8217;s common stock at a
conversion price from September 8, 2009 through and including December 31, 2011,
equal to the lesser of (i) $0.40 per share, or (ii) the average of the ten daily
VWAPs for the 10 Trading Days immediately preceding the date on which a
conversion notice is received (defined in the note as the &#8220;Market Price&#8221;); or
(B) after December 31, 2011 the greater of&#160;&#160;(i) $0.40 per share, or
(ii) the Market Price; provided that, the conversion price shall never be less
than $0.10 (ten cents) regardless of the Market Price on the conversion date.
The Company recorded a debt discount totaling $262,500 with a credit to
additional paid in capital for the intrinsic value of the beneficial conversion
feature of the conversion option at the time of each draw on the loan. The debt
discount is being amortized over the remaining term of the debenture. The
Company recorded $3,796 as interest expense amortizing the debt discount in
September 2009. The Company considered requirements by the Derivatives and
Hedging Topic of the ASC and other guidance and concluded that the conversion
option should not be bifurcated from the host contract and the conversion option
is recorded as equity and not a liability.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company entered into a refinance agreement for $615,000 in September, 2009 and
issued a convertible note to one of its shareholders. The Company restructured
an already existing note issued to the shareholder. The outstanding balance can
be immediately converted in the Company common stock at a conversion price from
September 8, 2009 through and including December 31, 2011, equal to the lesser
of (i) $0.40 per share, or (ii) the average of the ten daily VWAPs for the 10
Trading Days immediately preceding the date on which a conversion notice is
received (defined in the note as the &#8220;Market Price&#8221;); or (B) after December 31,
2011 the greater of&#160;&#160;(i) $0.40 per share, or (ii) the Market Price;
provided that, the conversion price shall never be less than $0.10 (ten cents)
regardless of the Market Price on the conversion date. The Company recorded a
debt discount totaling $184,500 with a credit to additional paid in capital for
the intrinsic value of the beneficial conversion feature of the conversion
option at the time of issuance. The debt discount is being amortized over the
term of the debenture. The Company recorded $3,758 as interest expense
amortizing the debt discount in September 2009. The Company considered
requirements by the Derivatives and Hedging Topic of the ASC and other guidance
and concluded that the conversion option should not be bifurcated from the host
contract and the conversion option is recorded as equity and not a
liability.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-15</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PREFERRED
      STOCK</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
8, 2008, the Company entered into a securities purchase agreement (&#8220;SPA1&#8221;) with
CDS Ventures of South Florida, LLC (&#8220;CDS&#8221;), an affiliate of CD Financial, LLC
(&#8220;CD&#8221;). Pursuant to SPA1, the Company issued 2,000 Series A preferred shares
(&#8220;Preferred A Shares&#8221;), as well as a warrant to purchase an additional 1,000
Preferred A Shares, for a cash payment of $1.5 million and the cancellation of
two notes in aggregate amount of $500,000 issued to CD. The Preferred A Shares
can be converted into Company common stock at any time. SPA1 was amended on
December 12, 2008 to provide that until December 31, 2010 the conversion price
is $0.08, after which the conversion price is the greater of $0.08 or 90% of the
volume weighted average price of the Common Stock for the prior 10 trading days.
Pursuant to SPA1, the Company also entered into a registration rights agreement,
pursuant to which the Company filed a registration statement for the common
stock issuable upon conversion of Preferred A Shares. The registration statement
filed in connection with the Preferred A Shares was declared effective on May
14, 2009. The Preferred A Shares accrue a ten percent annual cumulative
dividend, payable in additional Preferred A Shares. In March 2009, the Company
issued 81 Preferred A Shares in dividends. The Preferred A Shares mature on
February 1, 2013 and are redeemable only in Company Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 12, 2008, the Company entered into a second securities purchase
agreement (&#8220;SPA2&#8221;) with CDS. Pursuant to SPA2 the Company issued 2,000 Series B
preferred shares (&#8220;Preferred B Shares&#8221;), as well as a warrant to purchase
additional 2,000 Preferred B Shares, for a cash payment of $2.0 million. The
Preferred B Shares can be converted into Company common stock at any time. Until
December 31, 2010, the conversion price is $0.05, after which the conversion
price is the greater of $0.05 or 90% of the volume weighted average price of the
common stock for the prior 10 trading days. Pursuant to SPA2, the Company also
entered into a registration rights agreement, pursuant to which the Company
filed on October 9, 2009, a registration statement for the common stock issuable
upon conversion of Preferred B Shares. The Preferred B Shares accrue a ten
percent annual cumulative dividend, payable in additional Preferred B
Shares.&#160;In March 2009, the Company issued 11 Preferred B Shares in
dividends. The Preferred B Shares mature on December 31, 2013 and are redeemable
only in Company Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
31, 2009, CDS exercised its right to purchase additional 2,000 Preferred B
Shares and executed a subscription agreement for $2.0 million. The monies for
the subscription were paid on April 7 and May 1, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
covenants of both Series A and B preferred shares restrict the Company from
entering into additional debt arrangements or permitting liens to be filed
against the Company&#8217;s assets, without approval from the holder of the preferred
shares. There is a mandatory redemption in cash, if the Company breaches certain
covenants of the agreements. The holders have liquidation preference in case of
company liquidation. The Company has the right to redeem the preferred shares
early by the payment in cash of 104% of the liquidation preference value. The
Company may redeem Series A at any time on or after July 1, 2010 and Series B at
any time on or after January 1, 2011.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table sets forth the conversion of Preferred Stock into common
stocks:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-16</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div align="right">
        <table cellpadding="0" cellspacing="0" width="96%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td align="left" valign="bottom" width="46%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      Stock</font></div>
              </td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number
      shares</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Value/share</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      into number of common Stock</font></div>
              </td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td align="left" valign="bottom" width="46%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Preferred
      A</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,081</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,000.00</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26,012,500</font></td>
              <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td align="left" valign="bottom" width="46%" style="PADDING-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Preferred
      B</font></div>
              </td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="15%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,011</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
              <td valign="bottom" width="15%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,000.00</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">80,220,000</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr><tr>
              <td align="left" valign="bottom" width="46%" style="PADDING-BOTTOM: 4px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
              </td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="15%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="15%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">106,232,500</font></td>
              <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
number of shares converted into is based on the current conversion
price.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">15.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RELATED
      PARTY TRANSACTIONS</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The CEO
has guaranteed the Company&#8217;s obligations under the factoring agreement with
Bibby Financial Services, Inc. The agreement was terminated in December 2008 and
no balance is outstanding. The CEO has also guaranteed the financing for the
Company&#8217;s offices and purchases of vehicles. The CEO has not received any
compensation for the guarantees.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company entered into a 6-month lease starting October 1, 2009, for office
premises with CDR Atlantic Plaza, Ltd (&#8220;CDR&#8221;), a company controlled by Carl
DeSantis, an affiliate to the company. The total lease payments in the agreement
total $24,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also, see
Note 9 &#8211; Due to related parties, 13 &#8211; Preferred Stock and 14 &#8211; Convertible note
payable, related parties.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STOCKHOLDERS&#8217;
      DEFICIT</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to conversion of note</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
January 2008, the Company restructured the then outstanding balance of a note
and issued 1 million unregistered shares for an equivalent value of $121,555,
and a new non-interest bearing note for $105,000. The<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>note calls for 7 monthly
principal payments beginning March 1, 2008. The Company paid off the outstanding
balance as of December 31, 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2008, the Company issued 11,184,016 unregistered shares as conversion of notes
for $750,000 that were originally issued in December 2007 and April
2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
through September, 2008, the Company issued 9,107,042 as a partial conversion of
a debenture for $575,000 originally issued in December 2007. In October through
December, 2008, the Company issued 7,739,603 shares as a partial conversion of
the same debenture for $199,000. The Company issued 1,168,817 shares as a
partial conversion of the same debenture for $105,000 in May 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to services performed</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2008, the Company issued a total of 750,000 unregistered shares as compensation
to an international distributor at a fair value of $120,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September through December, 2008, the Company issued a total of 183,135
unregistered shares as compensation to a consultant and a distributor at a fair
value of $11,450.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the nine months ended September 30, 2009, the Company issued a total of 278,506
unregistered shares as compensation to a consultant and a distributor at a fair
value of $30,125.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-17</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to exercise of warrant and stock options</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 15, 2008, the Company issued 16,671 shares of unregistered common stock
in accordance to its 2006 Stock Incentive Plan to an employee exercising vested
options.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 13, 2009, the Company issued 16,671 shares of common stock in accordance
to its 2006 Stock Incentive Plan to an employee exercising vested
options.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August
and September, 2009, the Company issued 2,361,894 shares of common stock in
accordance to its 2006 Stock Incentive Plan to four employees exercising vested
options.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to private placements</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
February 2008 the Company issued a total of 3,198,529 unregistered shares of
common stock in private placements for an aggregate consideration of $298,900,
net of commissions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2008 the Company issued a total of ten million unregistered shares of common
stock in a private placement, for an aggregate consideration of $500,100. In
addition, the investor received a warrant to purchase seven million unregistered
shares of common stock during a 3-year period, at an exercise price of $0.13 per
share. Of the total consideration, $100,000 was paid in March and $400,100 was
paid on April 7, 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of preferred stock pursuant to private placement</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August
2008, the Company issued 2,000 unregistered Preferred A Shares, as well as a
warrant to purchase additional 1,000 Preferred A Shares, for a cash payment of
$1.5 million and the cancellation of two notes in aggregate amount of
$500,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2008, the Company issued 2,000 unregistered Preferred B Shares, as well
as a warrant to purchase additional 2,000 Preferred B Shares, for a cash payment
of $2.0 million.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On March
31, 2009, CDS exercised its right to purchase additional 2,000 Preferred B
Shares and executed a subscription agreement for $2 million payment. CDS made
payments of $1 million each on April 7 and May 1, 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also, see
Note 13 &#8211; Preferred Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">17.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STOCK-BASED
      COMPENSATION</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company adopted an Incentive Stock Plan on January 18, 2007. This plan is
intended to provide incentives which will attract and retain highly competent
persons at all levels as employees of the Company, as well as independent
contractors providing consulting or advisory services to the Company, by
providing them opportunities to acquire the Company's common stock or to receive
monetary payments based on the value of such shares pursuant to Awards issued.
While the plan terminates 10 years after the adoption date, issued options have
their own schedule of termination. Until 2017, options to acquire up to 16.0
million shares of common stock may be granted at no less than fair market value
on the date of grant. Upon exercise, shares of new common stock are issued by
the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At
September 30, 2009, the Company has issued approximately 15.9 million options to
purchase shares at an average price of $0.07 with a fair value of $725,000. For
the nine months ended September 30, 2009 and 2008, respectively, the Company
recognized $346,826 and $165,140 of non-cash compensation expense, respectively,
(included in General and Administrative expenses in the accompanying
Consolidated Statement of </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-18</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operations).
As of September 30, 2009 and December 31, 2008, the Company had approximately
$2.8 million and $192,000, respectively, of unrecognized pre-tax non-cash
compensation expense which the Company expects to recognize, based on a
weighted-average period of 1.5 and 0.9 years, respectively. The Company used the
Black-Scholes option-pricing model and straight-line amortization of
compensation expense over the two to three year requisite service or vesting
period of the grant. There are options to purchase approximately 5.8 million
shares that have vested, and 2.4 million shares were exercised as of September
30, 2009. The following is a summary of the assumptions used:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div align="center">
        <table cellpadding="0" cellspacing="0" width="75%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td align="left" valign="top" width="42%">
                <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Risk-free&#160;interest&#160;rate</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="23%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6%
      - 4.9%</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="42%">
                <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected&#160;dividend&#160;yield</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="23%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;&#160;&#160;</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="42%">
                <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected
      term</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="23%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3 &#8211;
      5 &#160;years</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="42%">
                <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected
      annual volatility</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="23%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">73%&#160;-&#160;167%</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March,
2008, the Company issued a total of 750,000 unregistered shares as compensation
to an international distributor at a fair value of $120,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September through December, 2008, the Company issued a total of 183,135
unregistered shares as compensation to a consultant and a distributor at a fair
value of $11,450. During the nine months ended September 30, 2009, the Company
issued a total of 278,506 unregistered shares as compensation to a consultant
and a distributor at a fair value of $30,125.The consultant will receive
additional shares with fair value of $2,000 monthly as long as the consultancy
agreement continues.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">18.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WARRANTS</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
investment banking firm received, as placement agent for financing received from
Fusion Capital Fund II, LLC (&#8220;Fusion Capital&#8221;), a warrant to purchase 75,000
shares at a price of $1.31 per share. If unexercised, the warrant expires on
June 22, 2012.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March,
2008 the Company issued a total of 10,000,000 unregistered shares of common
stock in a private placement, for an aggregate consideration of $500,100. In
addition, the investor received a warrant to purchase seven million unregistered
shares of common stock at an exercise price of $0.13 per share. If unexercised,
the warrant expires on March 28, 2011.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
8, 2008, the Company entered into a securities purchase agreement with CDS, as
further described in Note 13 &#8211; Preferred Stock. In connection with the security
purchase, CDS received a warrant to purchase an additional 1,000 Preferred A
Shares, at a price of $1,000 per share. If unexercised, the warrant expires on
July 10, 2010. The Preferred A Shares can be converted into our common stock at
any time. Until the December 31, 2010, the conversion price is $0.08, after
which the conversion price is the greater of $0.08 or 90% of the volume weighted
average price of the common stock for the prior 10 trading days. The Preferred A
Shares accrue ten percent annual cumulative dividend, payable in additional
Preferred A Shares.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 12, 2008, the Company entered into a second securities purchase
agreement with CDS, as further described in Note 13 &#8211; Preferred Stock. In
connection with the security purchase, CDS received a warrant to purchase an
additional 2,000 Preferred B Shares, at a price of $1,000 per share, which was
exercised in full on March 31, 2009. The Preferred B Shares can be converted
into our common stock at any time. Until December 31, 2010, the conversion price
is $0.05, after which the conversion price is the greater of $0.05 or 90% of the
volume weighted average price of the common stock for the prior 10 trading days.
The Preferred B Shares accrue a ten percent annual cumulative dividend, payable
in additional Preferred B Shares. On March 31, 2009, CDS exercised its warrant.
See also Note 13 &#8211; Preferred Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-19</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="bottom" width="40%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td colspan="6" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Period
      Ended September 30, 2009</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="7" valign="bottom" width="29%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year
      Ended December 31, 2008</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" width="40%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thousands
      of</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      Average</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thousands
      of</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.05pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      Average</font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" width="40%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Warrants</font></font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Exercise
      Price</font></font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Warrants</font></font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.05pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Exercise
      Price</font></font> </div>
                </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      at the beginning of period</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,575</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,500</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercised</font></div>
                </td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(40,000</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.05</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expired</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      at the end of period</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19,575</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.10</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,575</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrants
      exercisable at end of period</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19,575</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.10</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,575</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="40%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average fair value of the</font></div>
                </td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">warrants
      granted during the year</font></div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="12%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.03</font></td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
weighted average remaining contractual life and weighted average exercise price
of warrants outstanding and exercisable at September 30, 2009, for selected
exercise price ranges, is as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div align="center">
        <table cellpadding="0" cellspacing="0" width="85%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Range&#160;of</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Exercise</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding&#160;at</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">September
      30,</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009
      (000s)</font></div>
              </td>
              <td valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Remaining&#160;Life</font></div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td valign="top" width="10%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.08</font></div>
              </td>
              <td valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="15%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,500</font></div>
              </td>
              <td valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.0</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.08</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td valign="top" width="10%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.13</font></div>
              </td>
              <td valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="15%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,000</font></div>
              </td>
              <td valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.7</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.13</font></div>
              </td>
            </tr><tr bgcolor="#cceeff">
              <td valign="top" width="10%" style="PADDING-BOTTOM: 2px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.31</font></div>
              </td>
              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></div>
              </td>
              <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.0</font></div>
              </td>
              <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="11%" style="PADDING-BOTTOM: 2px">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.31</font></div>
              </td>
            </tr><tr bgcolor="white">
              <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td align="right" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">19,575</font></div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
              <td valign="bottom" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div>
              </td>
              <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="bottom" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.10</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMMITMENTS
      AND CONTINGENCIES</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has entered into distribution agreements with liquidated damages in case
the Company cancels the distribution agreements without cause. Cause has been
defined in various ways. In one such distribution agreement, the liquidated
damages are payable in common stock rather than cash. If such agreement is
terminated without cause, the potential liability is to have to issue shares to
the distributor at a purchase price of $0.06. The quantity of shares depends on
this distributor&#8217;s purchases from the Company as compared to the Company&#8217;s total
revenue. It is managements&#8217; belief that no liability for liquidated damages
exists as of today&#8217;s date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">20.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BUSINESS
      AND CREDIT CONCENTRATION</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Substantially
all of the Company&#8217;s revenue is derived from the sale of the Celsius
beverage.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-20</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc. and Subsidiaries</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notes
to Unaudited Condensed Consolidated Financial Statements
(continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company uses single supplier relationships for its raw materials purchases,
which potentially subjects the Company to a concentration of business risk. If
these suppliers had operational problems or ceased making product available to
the Company, operations could be adversely affected. No vendor accounted for
more than 10% of total payments in 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">From
April to June, 2008, the Company sold in one order to one international customer
15.9% of the Company&#8217;s total revenue for the year 2008. There is no assurance
that this customer will order again. There were three customers in the nine
months ended September 30, 2009, that each accounts for more than 10% of the
Company&#8217;s net revenue for the period.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 20pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">21.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SUBSEQUENT
      EVENTS</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 20pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">After
quarter end GGI converted additional $210,000 of the convertible debenture to
700,233 shares of Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-21</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>&#160;</div>
        <div align="center">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<img src="sherbcel.jpg" alt=""></font></td>
                <td width="50%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1900
      NW Corporate Blvd., Suite 210 East</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Boca
      Raton, Florida 33431</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Tel.
      561-886-4200</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fax.
      561-886-3330</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;e-mail:info@sherbcpa.com</font></div>
                </td>
              </tr><tr>
                <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; COLOR: #0000c0; FONT-FAMILY: times new roman">SHERB
      &amp; CO., LLP</font></font></td>
                <td width="50%">
                  <div style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Offices in New
      York and Florida</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 11pt; COLOR: #0000c0; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REPORT OF
<a name="report">INDEPENDENT REGISTERED </a>PUBLIC ACCOUNTING FIRM</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To the
Board of Directors</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have
audited the accompanying&#160;consolidated balance sheets of Celsius Holdings,
Inc. and Subsidiaries as of December 31, 2008 and 2007, respectively, and the
related consolidated statements of operations, changes in stockholders' equity
(deficit) and cash flows for the years ended December 31, 2008 and 2007,
respectively. These consolidated financial statements are the responsibility of
the Company's&#160;management. Our responsibility is to express an opinion on
these financial statements based on our audits.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Company is not required
to&#160;&#160;have, nor were we engaged to perform, an audit of its internal
control over financial reporting as a basis for designing audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the&#160;&#160;effectiveness of the Company's internal control over
financial reporting. Accordingly we express no such opinion. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statements presentation. We believe that our
audits provide a reasonable basis for our opinion.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In our
opinion, the consolidated financial statements referred to above present fairly,
in all material respects, the financial position of the Company and subsidiaries
as of December 31, 2008 and 2007, respectively, and the results of their
operations and cash flows for the years ended December 31, 2008, and 2007,
respectively, in conformity with accounting principles generally accepted in the
United States of America.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
accompanying consolidated financial statements have been prepared assuming that
the Company will continue as a going concern. As discussed in Note 2 to the
consolidated financial statements, the Company has suffered losses from
operations, and has an accumulated deficit and net cash used in operations of
$4,840,152 for the year ended December 31, 2008. This raises substantial doubt
about its ability to continue as a going concern. Management's plans in regards
to these matters are described in Note 2 to the consolidated financial
statements. The consolidated financial statements do not include any adjustments
that might result from the outcome of this uncertainty.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 266pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
/s/ Sherb &amp; Co., LLP&#160; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 446pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Boca
Raton, Florida</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">February
23, 2009</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-22</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Celsius
      Holdings, Inc. and Subsidiaries</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Balance Sheets</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td colspan="3" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="3" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td align="left" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom" style="TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">ASSETS</font></font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current
      assets:</font> </div>
                </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      and cash equivalents</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,040,633</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">257,482</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      receivable, net</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">192,779</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">276,877</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories,
      net</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">505,009</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">578,774</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      current assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,155</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">44,960</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      current assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,750,576</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,158,093</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Property,
      fixtures and equipment, net</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">183,353</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">64,697</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Note
      receivable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">250,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,250,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      long-term assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60,340</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,202,769</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,533,130</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">LIABILITIES
      AND STOCKHOLDERS&#8217; EQUITY (DEFICIT)</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current
      liabilities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      payable and accrued expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">612,044</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">594,828</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loans
      payable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">710,307</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deposit
      from customer</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">400,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Short
      term portion of other liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26,493</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,184</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, net of debt discount</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">199,692</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Due
      to related parties, short-term portion</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">120,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">896,721</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      current liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">853,537</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,808,732</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note payable, net of debt discount</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">562,570</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,314,914</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Due
      to related parties, long-term portion</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">700,413</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75,022</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14,236</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Liabilities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,191,542</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,137,882</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stockholders&#8217;
      Equity (Deficit):</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Preferred
      stock, $0.001 par value; 50,000,000 shares
    authorized,</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;4,000
      shares and 0 shares issued and outstanding,
      respectively</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,000,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      stock, $0.001 par value: 350,000,000 shares</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;authorized,
      149 million and 106 million shares</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;issued
      and outstanding, respectively</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">148,789</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105,611</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional
      paid-in capital</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,244,806</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,410,405</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated
      deficit</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,382,368</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6,120,768</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Stockholders&#8217; Equity (Deficit)</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,227</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,604,752</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Liabilities and Stockholders&#8217; Equity (Deficit)</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,202,769</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,533,130</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="WIDTH: 100%" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">See
Notes to Consolidated Financial Statements</font></div>
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-23</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                  </div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Celsius
      Holdings, Inc. and Subsidiaries</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Operations</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      the years ended December 31,</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revenue</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,589,887</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,644,780</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cost
      of revenue</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,833,184</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,033,971</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Gross
      profit</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">756,703</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">610,809</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      expenses:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Selling
      and marketing expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,936,552</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,100,687</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">General
      and administrative expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,740,143</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,554,510</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Termination
      of contract expense</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Total
      operating expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,676,695</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,155,197</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Operating
      loss</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,919,992</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,544,388</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      expenses:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest
      income</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">70,441</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,837</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest
      expense, related party</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(773</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(75,647</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Interest
      expense, other, net</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(411,276</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(113,643</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Total
      other expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(341,608</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(181,453</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,261,600</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,725,841</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      per share, basic and diluted</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.04</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(0.04</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average shares outstanding -</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">basic
      and diluted</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">128,703,645</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">100,688,634</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="WIDTH: 100%" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">See
Notes to Consolidated Financial Statements</font></div>
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-24</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="28" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Celsius
      Holdings, Inc. and Subsidiaries</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="28" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Changes in Stockholders&#8217; Equity
    (Deficit)</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="28" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">for
      the Years Ended December 31, 2008 and 2007</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="6" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="6" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Additional</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Preferred
      Stock</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      Stock</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Paid-In</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accumulated</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amount</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amount</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Capital</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deficit</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      at December 31, 2006</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69,575,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">69,575</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">705,425</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,394,927</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,619,927</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effect
      of recapitalization due to merger</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24,000,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">329,117</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">353,117</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of common stock in exchange of note</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">249,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">250,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of common stock for cash</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,013,800</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,014</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,777,720</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,782,734</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise
      of warrants</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,557,812</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,558</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">496,442</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares
      issued as compensation for services</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,572,246</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,572</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">196,928</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">198,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares
      issued for termination of contract</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,391,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,392</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">273,154</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">274,546</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Beneficial
      conversion feature of debt instrument</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">243,838</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">243,838</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      option expense</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">138,281</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">138,281</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,725,841</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,725,841</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      at December 31, 2007</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105,610,358</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">105,611</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,410,405</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(6,120,768</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,604,752</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="16%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of preferred stock for cash</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of stock in exchange of note</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29,030,661</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">29,030</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,550,533</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,079,563</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of common stock for cash</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,198,529</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">13,198</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">785,802</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">799,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise
      of stock options</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16,671</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">295</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">312</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares
      issued as compensation</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">933,135</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">933</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">130,517</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">131,450</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Beneficial
      conversion feature of debt instrument</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">170,460</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">170,460</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      option expense</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">196,794</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">196,794</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,261,600</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,261,600</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="16%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      at December 31, 2008</font> </div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,000,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">148,789,354</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">148,789</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,244,806</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(11,382,368</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,227</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="16%"> &#160; </td>
                <td align="right" valign="bottom" width="1%"> &#160; </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> &#160; </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td align="right" valign="bottom" width="1%"> &#160; </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> &#160; </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td align="right" valign="bottom" width="1%"> &#160; </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> &#160; </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td align="right" valign="bottom" width="1%"> &#160; </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> &#160; </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td align="right" valign="bottom" width="1%"> &#160; </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> &#160; </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td align="right" valign="bottom" width="1%"> &#160; </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> &#160; </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td align="left" valign="bottom" width="1%"> &#160; </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> &#160; </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> &#160; </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <div align="left">
          <div align="center">
            <div align="center">
              <div align="center">&#160;</div>
            </div>
          </div>
        </div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="WIDTH: 100%" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">See
Notes to Consolidated Financial Statements</font></div>
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-25</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Celsius
      Holdings, Inc. and Subsidiaries</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td colspan="8" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consolidated
      Statements of Cash Flows</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="6" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      the Years Ended December 31,</font> </div>
                </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font> </div>
                </td>
                <td nowrap valign="bottom" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      flows from operating activities:</font> </div>
                </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      loss</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,261,600</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3,725,841</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Adjustments
      to reconcile net loss to net cash</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">used
      in operating activities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Depreciation</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">31,605</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,658</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loss
      on disposal of assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">804</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Adjustment
      to allowance for doubtful accounts</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">53,101</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Adjustment
      to reserve for inventory obsolescence</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">190,601</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">16,444</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Impairment
      of intangible assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">26,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Termination
      of contract</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of stock options</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">196,794</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">138,281</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amortization
      of debt discount</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">211,245</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,732</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of shares as compensation</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">131,450</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">198,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Changes
      in operating assets and liabilities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      receivable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">30,997</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(148,558</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(116,836</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(30,119</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Prepaid
      expenses and other assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">32,805</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(8,906</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      payable and accrued expenses</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17,382</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">64,123</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Deposit
      from customer</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(400,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">400,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash used in operating activities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(4,840,152</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(2,550,686</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      flows from investing activities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases
      of intangible assets</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(41,500</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Purchases
      of property, fixtures and equipment</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(151,065</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(46,164</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash used in investing activities</font> </div>
                </td>
                <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(151,065</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(87,664</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash
      flows from financing activities:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from sale of common stock</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">799,312</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,782,734</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from sale of preferred stock</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from issuance of convertible notes</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">990,900</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from exercise of warrants</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">500,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from recapitalization due to merger</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">353,117</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Repayment
      of note to stockholders</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(
      621,715</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from note receivable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,000,000</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Proceeds
      from loans payable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">743,552</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">483,891</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Repayment
      of loans payable</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(1,183,087</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(24,325</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Repayment
      of note to related parties</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(76,309</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(106,449</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      cash provided by financing activities</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,774,368</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,867,253</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Increase
      in cash</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">783,151</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">228,903</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="76%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash,
      beginning of year</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">257,482</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">28,579</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Cash,
      end of year</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,040,633</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">257,482</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Supplemental disclosures of
      cash flow information</font>:</font> </div>
                </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="white">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Cash
      paid during the year for interest</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">190,826</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">107,364</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
              </tr><tr bgcolor="#cceeff">
                <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Cash
      paid during the year for taxes</font> </div>
                </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                <td valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div style="WIDTH: 100%" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">See
Notes to Consolidated Financial Statements</font></div>
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-26</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ORGANIZATION
AND DESCRIPTION OF BUSINESS</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Business</font>
&#8212;Celsius Holdings, Inc. (f/k/a Vector Ventures Corp., the &#8220;Company&#8221;) was
incorporated under the laws of the State of Nevada on April 26,
2005.&#160;&#160;The Company was formed to engage in the acquisition,
exploration and development of natural resource properties. On December 26, 2006
the Company amended its Articles of Incorporation to change its name from Vector
Ventures Corp. as well as increase the authorized shares to 350,000,000, $0.001
par value common shares and 50,000,000, $0.001 par value preferred
shares.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prior to
January 26, 2007, the Company was in the exploration stage with its activities
limited to capital formation, organization, development of its business plan and
acquisition of mining claims.&#160;&#160;On January 24, 2007, the Company
entered into a merger agreement and plan of reorganization with Celsius, Inc., a
Nevada corporation and wholly-owned subsidiary of the Company (&#8220;Sub&#8221;), Elite FX,
Inc., a Florida corporation (&#8220;Elite&#8221;), and Steve Haley, the &#8220;Indemnifying
Officer&#8221; and &#8220;Securityholder Agent&#8221; of Elite, (the &#8220;Merger Agreement&#8221;). Under
the terms of the Merger Agreement Elite was merged into Sub and became a
wholly-owned subsidiary of the Company on January 26, 2007 (the
&#8220;Merger&#8221;).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
terms of the Merger Agreement, the Company issued:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 63pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">70,912,246
      shares of its common stock to the stockholders of Elite, including
      1,337,246 shares of common stock issued as compensation, as full
      consideration for the shares of
Elite;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 63pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">warrants
      to Investa Capital Partners Inc. to purchase 3,557,812 shares of common
      stock of the Company for $500,000. The warrants were exercised in February
      2007;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 63pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1,391,500
      shares of its common stock as partial consideration for termination of a
      consulting agreement and assignment of certain trademark rights to the
      name &#8220;Celsius&#8221;;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 63pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">options
      to purchase 10,647,025 shares of common stock of the Company in
      substitution for the options currently outstanding in
    Elite;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 63pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1,300,000
      shares of its common stock concurrent with the Merger in a private
      placement to non-US resident investors for aggregate consideration of
      US$650,000 which included the conversion of a $250,000 loan to the
      Company.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc&#8217;s majority stockholder, Mr. Kristian Kostovski, cancelled
7,200,000 shares of common stock of the Company held by him shortly after the
close of the Merger Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
financial accounting purposes, the Merger was treated as a recapitalization of
Celsius Holdings, Inc with the former stockholders of the&#160;Celsius Holdings,
Inc retaining approximately&#160;24.6% of&#160;the outstanding stock. This
transaction has been accounted for as a reverse acquisition and accordingly the
transaction has been treated as a recapitalization of&#160;Elite FX, Inc., with
Elite FX, Inc.&#160;as the accounting acquirer. The historical financial
statements are a continuation of the financial statements of the accounting
acquirer, and any difference of the capital structure of the merged entity as
compared to the accounting acquirer&#8217;s historical capital structure is due to the
recapitalization of the acquired entity.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-27</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;

        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BASIS
OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Going
Concern</font> &#8212; The accompanying consolidated financial statements are
presented on a going concern basis. The Company has suffered losses from
operations and has an accumulated deficit and net cash used in operations of
$4,840,152 for the year ended December 31, 2008. This raises substantial doubt
about its ability to continue as a going concern.&#160;Management is currently
seeking new capital or debt financing to provide funds needed to increase
liquidity, fund growth, and implement its business plan. However, no assurances
can be given that the Company will be able to raise any additional funds. If not
successful in obtaining financing, the Company will have to substantially
diminish or cease its operations. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Consolidation
Policy</font> &#8212; The accompanying consolidated financial statements include the
accounts of Celsius Holdings, Inc. and subsidiaries. All material inter-company
balances and transactions have been eliminated in consolidation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Significant
Estimates</font> &#8212; The preparation of consolidated financial statements in
conformity with accounting principles generally accepted in the United States of
America requires management to make estimates and assumptions that affect the
reported amounts of assets, liabilities, revenue and expenses and disclosure of
contingent assets and liabilities at the date of the financial statements.
Actual results could differ from those estimates.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Concentrations of
Risk</font> &#8212; Substantially all of the Company&#8217;s revenue derives from the sale
of the Celsius beverage.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company uses single supplier relationships for its raw materials purchases and
filling capacity, which potentially subjects the Company to a concentration of
business risk. If these suppliers had operational problems or ceased making
product available to the Company, operations could be adversely
affected.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
instruments that potentially subject the Company to concentrations of credit
risk consist primarily of cash and cash equivalents. The Company places its cash
and cash equivalents with high-quality financial institutions. At times,
balances in the Company&#8217;s cash accounts may exceed the Federal Deposit Insurance
Corporation limit.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Cash and Cash
Equivalents</font> &#8212; The Company considers all highly liquid instruments with
maturities of three months or less when purchased to be cash equivalents. At
December 31, 2008, the Company did not have any investments with maturities
greater than three months.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Accounts
Receivable</font> &#8212; Accounts receivable are reported at net realizable value.
The Company establishes an allowance for doubtful accounts based upon factors
pertaining to the credit risk of specific customers, historical trends, and
other information. Delinquent accounts are written-off when it is determined
that the amounts are uncollectible. At December 31, 2008 and December 31 2007,
there was an allowance for doubtful accounts of $53,101 and $0,
respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Inventories</font>
&#8212; Inventories include only the purchase cost and are stated at the lower of cost
or market. Cost is determined using the FIFO method. Inventories consist of raw
materials and finished products. The Company writes down inventory during the
period in which such materials and products are no longer usable or marketable.
At December 31, 2008 and December 31, 2007, there was a&#160;reserve for
obsolescence of $207,045 and $16,444, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-28</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Property,
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Fixtures, and
Equipment</font> &#8212; Furniture, fixtures and equipment are stated at cost less
accumulated depreciation and amortization. Depreciation of furniture, fixtures,
and equipment is calculated using the straight-line method over the estimated
useful life of the asset generally ranging from three to seven
years.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Impairment of
Long-Lived Assets</font> &#8212; Asset impairments are recorded when the carrying
values of assets are not recoverable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company reviews long-lived assets to be held and used for impairment whenever
events or changes in circumstances indicate that the carrying amount of an asset
may not be recoverable or at least annually. If the sum of the undiscounted
expected future cash flows is less than the carrying amount of the asset, the
Company recognizes an impairment loss. Impairment losses are measured as the
amount by which the carrying amount of assets exceeds the fair value of the
asset. When fair values are not available, the Company estimates fair value
using the expected future cash flows discounted at a rate commensurate with the
risks associated with the recovery of the asset.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">I</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">ntangible
Assets</font> &#8212; Intangible assets consist of the web domain name Celsius.com and
other trademarks and trade names, and are subject to annual impairment tests.
This analysis will be performed in accordance with Statement of Financial
Standards (&#8216;&#8216;SFAS&#8217;&#8217;) No.&#160;142, Goodwill and Other Intangible Assets. Based
upon impairment analyses performed in accordance with SFAS No.&#160;142 in
fiscal years 2008 and 2007, impairment was recorded of $41,500 and $26,000,
respectively. The impairment recorded was for expenses for trademarks, domain
names and international registration of trademarks.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Revenue
Recognition</font> &#8212; Revenue is recognized when the products are delivered,
invoiced at a fixed price and the collectability is reasonably assured. Any
discounts, sales incentives or similar arrangements with the customer are
estimated at time of sale and deducted from revenue.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Advertising
Costs</font> &#8212; Advertising costs are expensed as incurred. The Company uses
mainly radio, local sampling events and printed advertising. The Company
incurred advertising expense of $1.6 million and $535,000, during the fiscal
years 2008 and 2007, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Research and
Development</font> &#8212; Research and development costs are charged to operations as
incurred and consists primarily of consulting fees, raw material usage and test
productions of beverages.&#160;The Company incurred expenses of
$261,000&#160;and $214,000, during the fiscal years 2008 and 2007,
respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Fair Value of
Financial Instruments</font> &#8212; The carrying value of cash and cash equivalents,
accounts receivable, and accounts payable approximates fair value. The carrying
value of debt approximates the estimated fair value due to floating interest
rates on the debt.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Income
Taxes</font> &#8212; Income taxes are accounted for using an asset and liability
approach that requires the recognition of deferred tax assets and liabilities
for the expected future tax consequences of events that have been recognized in
the Company&#8217;s financial statements or tax returns. In estimating future tax
consequences, the Company generally considers all expected future events other
than changes in the tax law or rates. A valuation allowance is recorded when it
is deemed more likely than not that a deferred tax asset will be not
realized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-29</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">E</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">arnings per
Share</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font>&#8212;
Basic earnings per share are calculated by dividing income available to
stockholders by the weighted-average number of common shares outstanding during
each period. Diluted earnings per share are computed using the weighted average
number of common and dilutive common share equivalents outstanding during the
period. Dilutive common share equivalents consist of shares issuable upon
conversion of preferred shares, exercise of stock options and warrants
(calculated using the reverse treasury stock method). Common share equivalents
outstanding&#160;were 86,130,991 and 8,534,864, as of December 31, 2008 and
2007, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Reclassifications</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font>&#8212;
Certain prior year amounts have been reclassified to conform to the current year
presentation. Such reclassifications had no effect on the reported net
loss.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Share-Based
Payments </font>&#8212; In December 2004, the FASB issued SFAS No.
123(R)&#160;"Share-Based Payment," (&#8220;SFAS 123(R)&#8221;), which replaces SFAS No. 123
and supersedes APB Opinion No. 25. Under SFAS 123(R), companies are required to
measure the compensation costs of share-based compensation arrangements based on
the grant-date&#160;fair value and recognize the costs in the financial
statements over the period during which employees are required to provide
services. Share-based compensation arrangements include stock options,
restricted share plans, performance-based awards, share appreciation rights and
employee share purchase plans. In March 2005, the SEC issued Staff Accounting
Bulletin No.107 "SAB 107'. SAB 107 expresses views of the staff regarding the
interaction between SFAS 123(R) and certain SEC rules and regulations and
provides the staffs views regarding the valuation of share-based payment
arrangements for public companies. Effective January 1,&#160;2006, the Company
has fully adopted the provisions of SFAS 123(R) and related interpretations as
provided by SAB 107. As such, compensation cost is measured on the date of grant
as the fair value of the share-based payments. Such compensation amounts, if
any, are amortized over the respective vesting periods of the option
grant.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Recent Accounting
Pronouncements</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2006, the FASB issued Statement of Financial&#160;Standards
No.&#160;157,&#160;"Fair&#160;Value&#160;Measurements"&#160;(&#8220;SFAS 157&#8221;). SFAS
157 defines fair&#160;value,&#160;establishes a framework for measuring fair
value in
accordance&#160;with&#160;accounting&#160;principles&#160;generally&#160;accepted
in the United&#160;States,&#160;and expands&#160;disclosures&#160;about fair
value&#160;measurements.&#160;This&#160;statement&#160;does not&#160;require any
new fair&#160;value&#160;measurements;&#160;rather,&#160;it applies under other
accounting&#160;pronouncements&#160;that require or permit fair value
measurements. The&#160;provisions of SFAS 157 are effective for fiscal years
beginning after November 15, 2007.&#160;The adoption&#160;of SFAS 157 did not
have a&#160;material impact on the Company's&#160;consolidated&#160;financial
position or results of&#160;operations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
February 2007, FASB issued SFAS No.&#160;159, &#8220;The Fair Value Option for
Financial Assets and Financial Liabilities&#8221;<font style="DISPLAY: inline; FONT-STYLE: italic">&#160;</font>(&#8220;SFAS 159&#8221;).
&#160;SFAS 159 permits entities to choose to measure many financial instruments
and certain other items at fair value and establishes presentation and
disclosure requirements designed to facilitate comparisons between entities that
choose different measurement attributes for similar types of assets and
liabilities. &#160;SFAS 159 is effective for financial statements issued for
fiscal years beginning after November&#160;15, 2007. &#160;The adoption of SFAS
159 did not have on the Company&#8217;s consolidated financial position and results of
operations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-30</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December&#160;2007, the FASB issued SFAS No.&#160;141 (revised 2007), <font style="DISPLAY: inline; FONT-STYLE: italic">Business Combinations</font> (&#8220;SFAS
141R&#8221;). SFAS 141R significantly changes the accounting for business combinations
in a number of areas including the treatment of contingent consideration,
pre-acquisition contingencies, transaction costs, in-process research and
development, and restructuring costs. In addition, under SFAS 141R, changes in
an acquired entity&#8217;s deferred tax assets and uncertain tax positions after the
measurement period will impact income tax expense. SFAS 141R is effective for
fiscal years beginning after December&#160;15, 2008. The Company does not
anticipate that the adoption of SFAS 141R will have a material impact on its
results of operations or financial condition.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December&#160;2007, the FASB issued SFAS No.&#160;160, <font style="DISPLAY: inline; FONT-STYLE: italic">Noncontrolling Interests in
Consolidated Financial Statements, an amendment of ARB No 51</font> (&#8220;SFAS
160&#8221;). SFAS 160 changes the accounting and reporting for minority interests,
which will be recharacterized as noncontrolling interests and classified as a
component of equity. This new consolidation method significantly changes the
accounting for transactions with minority interest holders. SFAS 160 is
effective for fiscal years beginning after December&#160;31, 2008. These
standards will change our accounting treatment for business combinations on a
prospective basis.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In April
2008, the FASB issued FSP FAS&#160;142-3, &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">Determination of the Useful Life of
Intangible Assets.</font>&#8221; This guidance is intended to improve the consistency
between the useful life of a recognized intangible asset under
SFAS&#160;No.&#160;142, &#8220;Goodwill and Other Intangible Assets&#8221;, and the period
of expected cash flows used to measure the fair value of the asset under
SFAS&#160;No.&#160;141R when the underlying arrangement includes renewal or
extension of terms that would require substantial costs or result in a material
modification to the asset upon renewal or extension. Companies estimating the
useful life of a recognized intangible asset must now consider their historical
experience in renewing or extending similar arrangements or, in the absence of
historical experience, must consider assumptions that market participants would
use about renewal or extension as adjusted for SFAS&#160;No.&#160;142&#8217;s
entity-specific factors. This standard is effective for fiscal years beginning
after December&#160;15, 2008, and is applicable to the Company&#8217;s fiscal year
beginning January 1, 2008. The Company does not anticipate that the adoption of
this FSP will have a material impact on its results of operations or financial
condition.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2008 and May 2008, respectively, the FASB issued the following statements of
financial accounting standards, none of which is anticipated to have a material
impact on the Company&#8217;s results of operations or financial
position:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 46px">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td width="815">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS&#160;No.&#160;161,
      &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">Disclosures about
      Derivative Instruments and Hedging Activities&#160;&#8212; an amendment of FASB
      Statement
No.&#160;133</font>;&#8221;</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 46px">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td width="815">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS&#160;No.&#160;162,
      &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">The Hierarchy of
      Generally Accepted Accounting Principles;&#8221;</font>
  and</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 46px">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
                </td>
                <td width="815">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SFAS
      No. 163,<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font><font style="DISPLAY: inline; FONT-STYLE: italic">&#8220;Accounting for Financial
      Guarantee Insurance Contracts-an interpretation of FASB Statement No.
      60.&#8221;</font></font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INVENTORIES</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inventories
consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
        <div align="left">
          <div align="left">
            <div align="left">
              <div align="left">
                <div align="left">
                  <div align="center">
                    <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                          <td align="left" valign="bottom" width="68%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" colspan="2" valign="bottom" width="14%">
                            <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" colspan="2" valign="bottom" width="14%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr>
                          <td align="left" valign="bottom" width="68%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                            <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2<font style="DISPLAY: inline">008</font></font></div>
                          </td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2<font style="DISPLAY: inline">007</font></font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="#cceeff">
                          <td align="left" valign="bottom" width="68%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Finished
      goods</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">581,970</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">407,972</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="white">
                          <td align="left" valign="bottom" width="68%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Raw
      Materials</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">130,084</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">187,246</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="#cceeff">
                          <td align="left" valign="bottom" width="68%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      inventory valuation allowance</font></div>
                          </td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(207,045</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(16,444</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        </tr><tr bgcolor="white">
                          <td align="left" valign="bottom" width="68%" style="PADDING-BOTTOM: 4px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Inventories,
      net</font></div>
                          </td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">505,009</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">578,774</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="#cceeff">
                          <td align="left" valign="bottom" width="68%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr></table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-31</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;

        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
CURRENT ASSETS</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
current assets at December 31, 2008 and December 31, 2007 consist of deposits on
purchases, prepaid insurance, other accounts receivable and accrued interest
receivable.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;&#160;
&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PROPERTY,
FIXTURES, AND EQUIPMENT</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Property,
fixtures and equipment consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div align="left">
          <div align="left">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font> </font></font></font>

                      <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font> </font></font></font>

                      <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="67%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Furniture,
      fixtures and equipment</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">228,332</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">78,425</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      accumulated depreciation</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(44,979</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(13,728</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">183,353</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">64,697</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation
expense amounted to $31,605 and $11,658&#160;during the fiscal years 2008 and
2007, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
LONG-TERM ASSETS</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
long-term assets&#160;consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
        <div align="left">
          <div align="left">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31, </font>

                      <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31, </font>

                      <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="67%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long
      term deposit on office lease</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="67%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Intangible
      assets</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41,500</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">41,500</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      Impairment of intangible assets</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(41,500</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">18,840</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60,340</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="67%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.&#160;&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOTE
RECEIVABLE</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Note
receivable from Golden Gate Investors, Inc. (&#8220;GGI&#8221;) was as of December 31, 2008
and December 31, 2007, $250,000 and $1,250,000, respectively. The note is due on
February 1, 2012, under certain circumstances GGI is obligated to monthly prepay
$250,000 on the note. During 2008, GGI made four monthly prepayments. As of
December 31, 2008 GGI is not obligated to prepay the note. The prerequisites to
obligate GGI to prepay the note are outside of the Company&#8217;s control and may
exist at a future date.&#160;&#160;The note accrues 8% interest per annum. The
Company has an outstanding debenture to the same company in the amount of
$701,000. Also see Note 14&#160;&#160;-&#160;&#160;Long term
debenture</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ACCOUNTS
PAYABLE AND ACCRUED EXPENSES</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounts
payable and accrued expenses&#160;consist of the following at:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      </div>
      <div>
        <div align="left">
          <div align="left">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31, </font>

                      <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31, </font>

                      <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="67%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounts
      payable</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">411,185</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">466,047</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accrued
      expenses</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">200,859</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">128,781</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">612,044</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">594,828</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-32</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div>&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.&#160;&#160;&#160;
</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DUE
TO RELATED PARTIES</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Due to
related parties consists of the following as of:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <div align="left">
            <div align="left">
              <div style="MARGIN-LEFT: 18pt" align="left">
                <table cellpadding="0" cellspacing="0" width="94%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                      <td valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" valign="bottom" width="10%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" valign="bottom" width="10%" style="TEXT-ALIGN: center">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr>
                      <td valign="bottom" width="76%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                      </td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr>
                      <td align="left" valign="bottom" width="76%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company received advances from one of its shareholders at various
      instances during 2004 and 2005, $76,000 and $424,000, respectively. In
      July, 2008, the debt was refinanced, has no collateral and accrues
      interest at the prime rate. Monthly amortization of $5,000 is due and a
      balloon payment of approximately $606,000 is due in January
      2010.</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">643,916</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">669,111</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr>
                      <td align="left" valign="bottom" width="76%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr>
                      <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 2px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company&#8217;s CEO loaned the Company $50,000 in February 2006. Moreover, the
      Company accrued salary for the CEO from March of 2006 through May 2007 for
      a total of $171,000. In August 2008, the total debt was refinanced, has no
      collateral and accrues interest at 3%; monthly payments of $5,000 are due
      with a balloon payment of $64,000 in January 2011.</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">176,497</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">227,610</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr>
                      <td valign="bottom" width="76%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">820,413</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">896,721</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr>
                      <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Less:
      Short-term portion</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(120,000</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(896,721</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    </tr><tr>
                      <td align="left" valign="bottom" width="76%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Long-term
      portion</font></div>
                      </td>
                      <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">700,413</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">-</font></font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr></table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also, see
Note 16 &#8211; Related party transactions.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">LOANS
PAYABLE</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loans
payable consist of the following as of:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <div align="left">
            <div align="left">
              <div align="left">
                <div align="left">
                  <div style="MARGIN-LEFT: 9pt" align="left">
                    <div style="MARGIN-LEFT: 9pt" align="left">
                      <table cellpadding="0" cellspacing="0" width="94%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                            <td colspan="2" valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" colspan="2" valign="bottom" width="10%">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                            </td>
                            <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" colspan="2" valign="bottom" width="10%" style="TEXT-ALIGN: center">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                            </td>
                            <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          </tr><tr>
                            <td colspan="2" valign="bottom" width="3%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td valign="bottom" width="72%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                            <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                            </td>
                            <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                            </td>
                            <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          </tr><tr>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">a.</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="72%">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company renewed its financing agreement for inventory on February 28,
      2008. The line of credit was for $500,000 and carried an interest charge
      of 1.5 percent of the outstanding balance and a monitoring fee of 0.5
      percent of the previous month&#8217;s average outstanding balance. The line of
      credit had as collateral all of the Company&#8217;s assets. The Company
      terminated the credit agreement and paid balance owed in December
      2008.</font></div>
                            </td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                            <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                            <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">222,092</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          </tr><tr>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          </tr><tr>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="right" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">b.</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="72%">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company renewed its factoring agreement for the Company&#8217;s accounts
      receivable during the first quarter of 2008. The maximum finance amount
      under the agreement was $500,000. Each factoring of accounts receivable
      has a fixed fee of one and a half percent of the invoice amount, a minimum
      fee per month and an interest charge of prime rate plus three percent on
      the outstanding balance under the credit agreement. The line of credit had
      as collateral all of the Company&#8217;s assets. The Company terminated the
      factoring agreement and paid balance owed in November
2008.</font></div>
                            </td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                            <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">102,540</font></td>
                            <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          </tr></table>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-33</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <div align="left">
            <div align="left">
              <div align="left">
                <div align="left">
                  <div align="left">
                    <div align="left">
                      <div align="left">
                        <div align="left">
                          <div align="left">
                            <div align="left">
                              <div style="MARGIN-LEFT: 18pt" align="left">
                                <table cellpadding="0" cellspacing="0" width="94%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                                      <td colspan="2" valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" colspan="2" valign="bottom" width="10%">
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                                      </td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" colspan="2" valign="bottom" width="10%" style="TEXT-ALIGN: center">
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December
      31,</font></div>
                                      </td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                    </tr><tr>
                                      <td colspan="2" valign="bottom" width="3%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td valign="bottom" width="72%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2008</font></font></div>
                                      </td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">2007</font></font></div>
                                      </td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                    </tr><tr>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="top" width="2%">
                                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">c.</font></div>
                                      </td>
                                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="72%">
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
      April 2, 2007 the Company received a $250,000 loan from Brennecke Partners
      LLC. In January, 2008 the Company restructured the then outstanding
      balance of the note and issued 1 million shares for an equivalent value of
      $121,555, and a new non-interest bearing note for $105,000. The Company
      paid the balance owed in December, 2008.</font></div>
                                      </td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">225,675</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                    </tr><tr>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="72%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                    </tr><tr>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="top" width="2%" style="PADDING-BOTTOM: 2px">
                                        <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">d.</font></div>
                                      </td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 2px">
                                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      Company terminated a consulting agreement and received in assignment the
      rights to the trademark &#8220;Celsius&#8221; from one of its former directors.
      Payment was issued in the form of an interest-free note payable for
      $250,000 and 1,391,500 shares of common stock. The note called for monthly
      amortization of $15,000 beginning March 30, 2007 with final payment of the
      remaining outstanding balance on November 30, 2007.</font></div>
                                      </td>
                                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">95,000</font></font></td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">160,000</font></font></td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                    </tr><tr>
                                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td valign="bottom" width="72%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">95,000</font></font></td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                      <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                                      <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">710,307</font></font></td>
                                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                                    </tr></table>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DEPOSIT
FROM CUSTOMER</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007, the Company received $400,000 from an international customer as deposit on
future orders. The deposit was used in its entirety to pay for product shipped
in April and June of 2008. The current balance as of December 31, 2008 and
December 31, 2007 was $0 and $400,000, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONVERTIBLE
AND OTHER NOTE PAYABLE</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 18, 2007 the Company issued a $250,000 convertible note to CD Financial
LLC (&#8220;CD&#8221;). The loan incurs eight percent interest per annum, and the note was
due on April 16, 2008. The note can be converted to Company common stock after
February 16, 2008 at a rate equal to seventy five percent of the average of the
previous five days volume weighted average price for trading of the common
stock, nevertheless, in no case can the note be converted to more than 25
million shares of common stock. At the time of recording the note a beneficial
conversion feature for the conversion option was recorded in the amount $57,219,
of which $6,199 was amortized in 2007, and $51,020 in 2008. Total outstanding as
of December 31, 2007 was $199,692, which is net of debt discount of $51,020. On
April 4, 2008 the Company received an additional $500,000 from CD on the same
terms as the first note, also extending the due date of the first note. At the
time of recording the second note a beneficial conversion feature for the
conversion option was recorded as a debt discount in the amount $154,835. On
June 10, 2008, the total amount of $750,000 was converted to 11,184,016 shares
of Common Stock. The Company amortized $106,948 of the debt discount as interest
expense; the remaining balance of the debt discount at time of conversion
reduced the amount credited to equity.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
5, 2008, the Company issued a third convertible note for $250,000 to CD. On July
15, 2008 the Company issued a fourth convertible note for $250,000 to
CD.&#160;&#160;The notes carry 8 percent interest. At the time of recording the
first note a beneficial conversion feature for the conversion option was
recorded in the amount $15,625, of which $6,621 was amortized in June of 2008.
On August 8, 2008, the convertible notes in the aggregate amount of $500,000
were cancelled and exchanged as partial consideration for preferred stock issued
to CDS Ventures of South Florida, LLC, an affiliate of CD.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-34</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2008, the Company entered into a $1 million revolving line of credit
with CD and it carries interest of Libor plus three percentage points. In
connection with this line of credit, the Company entered into a loan and
security agreement under which it has pledged all of its assets as security for
the line of credit. At December 31, 2008, there was no outstanding balance for
the line of credit.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
November and December 2008, the Company received loans from CD in the amount of
$450,000 and $200,000, respectively. These loans incurred 10 percent interest
per annum and were paid off in December 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">13.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
LIABILITY</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2006 and 2008, the Company acquired a copier and 8 delivery vans, all of them
financed. The outstanding balance on the aggregate loans as of December 31, 2008
and December 31, 2007 was $101,515 and $21,420, respectively, of which $26,493
and $7,184, is due during the next 12 months, respectively. The loans carry
interest ranging from 5.4% to 9.1%. The total monthly principal payment is
$2,099. The assets that were purchased are collateral for the
loans.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">LONG
TERM DEBENTURE</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 19, 2007, the Company entered into a $6 million security purchase
agreement (the &#8220;Security Agreement&#8221;) with Golden Gate Investors, Inc (&#8220;GGI&#8221;),
a&#160;California&#160;corporation. Under the Security Agreement, the Company
issued as a first tranche a $1.5 million convertible debenture maturing on
December 19, 2011. The debenture accrues seven and 3/4 percent interest per
annum.&#160;&#160;As consideration the Company received $250,000 in cash and a
note receivable for $1,250,000. The note receivable accrues eight percent
interest per annum and is due on February 1, 2012. The note has a pre-payment
obligation of $250,000 per month when certain criteria are&#160;fulfilled. The
Company is not obligated to convert the debenture to shares, partially or in
full, unless GGI prepays the respective portion of its obligation under the
note. The Security Agreement contains three more identical tranches for a total
agreement of $6 million. Each new tranche can be started at any time by GGI
during the debenture period which is defined as between December 19, 2007 until
the balance of the existing debentures is $250,000 or less. Either party can,
with a penalty payment of $45,000 for the Company, and $100,000 for GGI, cancel
any or all of the three pending tranches.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
debenture is convertible to common shares at a conversion rate of eighty percent
of the average of the three lowest volume weighted average prices for the
previous 20 trading days. The Company is not obligated to convert the amount
requested to be converted into Company common stock, if the conversion price is
less than $0.20 per share. GGI&#8217;s ownership in the company cannot exceed 4.99% of
the outstanding common stock. Under certain circumstances the Company may be
forced to pre-pay the debenture with a fifty percent penalty of the pre-paid
amount.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-35</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company recorded a debt discount of $186,619 with a credit to additional paid in
capital for the intrinsic value of the beneficial conversion feature of the
conversion option at the time of issuance. The debt discount is being amortized
over the term of the debenture. The Company recorded $46,656 and $1,533 as
interest expense amortizing the debt discount during 2008 and 2007,
respectively. The Company considered SFAS 133 and EITF 00-19 and concluded that
the conversion option should not be bifurcated from the host contract according
to SFAS 133 paragraph 11 a, and concluded that according to EITF 00-19 the
conversion option is recorded as equity and not a liability.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Company received $1,000,000 in payment on the note receivable. In June
to December, 2008, the Company converted $774,000 of the debenture to
approximately 16.9 million shares of Common Stock and the Company paid $25,000
of the debenture in cash.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
outstanding liability, net of debt discount, as of December 31, 2008 and
December 31, 2007 was $562,570 and $1,314,914, respectively.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">15.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PREFERRED
STOCK</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
8, 2008, the Company entered into a securities purchase agreement (&#8220;SPA1&#8221;) with
CDS Ventures of South Florida, LLC (&#8220;CDS&#8221;), an affiliate of CD Financial, LLC
(&#8220;CD&#8221;). Pursuant to the SPA, the Company issued 2,000 Series A preferred shares
(&#8220;Preferred A Shares&#8221;), as well as a warrant to purchase an additional 1,000
Preferred A Shares, for a cash payment of $1.5 million and the cancellation of
two notes in aggregate amount of $500,000 issued to CD. The Preferred A Shares
can be converted into Company common stock at any time; until December 31, 2010,
(as amended on December 12, 2008), the conversion price is $0.08, after which
the conversion price is the greater of $0.08 or 90% of the volume weighted
average price of the Common Stock for the prior 10 trading days. Pursuant to the
SPA1, the Company entered into a registration rights agreement under which the
company agreed to file a registration statement for the common stock issuable
upon conversion of Preferred Shares. The Preferred A Shares accrue a ten percent
annual cumulative dividend, payable in additional Preferred A Shares. The
Preferred A Shares mature on February 1, 2013 and is redeemable only in Company
Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 12, 2008, the Company entered into a securities purchase agreement
(&#8220;SPA2&#8221;) with CDS. Pursuant to the SPA2 the Company issued 2,000 Series B
preferred shares (&#8220;Preferred B Shares&#8221;), as well as a warrant to purchase
additional 2,000 Preferred B Shares, for a cash payment of $2.0 million. The
Preferred B Shares can be converted into Company common stock at any time, until
December 31, 2010, the conversion price is $0.05, after which the conversion
price is the greater of $0.05 or 90% of the volume weighted average price of the
common stock for the prior 10 trading days. Pursuant to the SPA2, the Company
entered into a registration rights agreement under which the company agreed to
file a registration statement for the common stock issuable upon conversion of
Preferred B Shares. The Preferred B Shares accrue a ten percent annual
cumulative dividend, payable in additional Preferred B Shares.&#160;The
Preferred B Shares mature on December 31, 2013 and is redeemable only in Company
Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-36</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
covenants of both Series A and B preferred shares restrict the Company to enter
into additional debt or to permit liens to be filed against the Company&#8217;s
assets, without approval from the holder of the preferred shares. There is a
mandatory redemption in cash, if the Company breaches certain covenants of the
agreements. The holders have liquidation preference in case of company
liquidation. The Company has the right to redeem the preferred shares early in
cash at 104% of the liquidation preference value for Series A, any date after
July 1, 2010 and for Series B, any date after January 1, 2011.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RELATED
PARTY TRANSACTIONS</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The CEO
has guaranteed the Company&#8217;s obligations under the factoring agreement with
Bibby Financial Services, Inc. (&#8220;Bibby&#8221;), the outstanding balance to Bibby as of
December 31, 2008&#160;and December 31, 2007 was $0 and $102,540, respectively.
The CEO has also guaranteed the financing&#160;for the Company&#8217;s offices and
purchases of vehicles. The CEO has not received any compensation for the
guarantees.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The COO
of the Company lent the Company $50,000 in February 2008, the loan was repaid in
March 2008. The COO also purchased in February 2008, 781,250 shares in a private
placement for a total consideration of $75,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The CFO
of the Company lent the Company $25,000 in February 2008, the loan was repaid in
February 2008. The CFO also purchased in February 2008, 245,098 shares in a
private placement for a total consideration of $25,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Vice
President of Strategic Accounts and Business Development purchased in February
2008, 245,098 shares in a private placement for a total consideration of
$25,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also, see
Note 9 &#8211; Due to related parties.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">17.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STOCKHOLDERS&#8217;
DEFICIT</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to conversion of note</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007, the Company issued 500,000 shares as conversion of a note for $250,000, or
an average price of $0.50 per share.</font></font>

        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
January 2008, the Company restructured the then outstanding balance of a note
and issued 1 million unregistered shares for an equivalent value of $121,555,
and a new non-interest bearing note for $105,000. The<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>note calls for 7 monthly
principal payments beginning March 1, 2008. The Company paid off the outstanding
balance as of December 31, 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
2008, the Company issued 11,184,016 unregistered shares as conversion of notes
for $750,000 that were originally issued in December 2007 and April
2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
through September, 2008, the Company issued 9,107,042 as a partial conversion of
a debenture for $575,000 originally issued in December 2007. In October through
December, 2008, the Company issued 7,739,603 shares as a partial conversion of
the same debenture for $199,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-37</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to services performed and termination of
contract</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007 the Company issued 1,572,246 shares as compensation to employees,
consultants and service providers. The total consideration recorded was $198,500
or an average of $0.13 per share.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
January, 2007, the Company issued 1,391,500 shares to a director as part of the
consideration for termination of a consulting contract. The total consideration
recorded was $274,546, or an average of $0.20 per share.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2008, the Company issued a total of 750,000 unregistered shares as compensation
to an international distributor at a fair value of $120,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September through December, 2008, the Company issued a total of 183,135
unregistered shares as compensation to a consultant and a distributor at a fair
value of $11,450.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to exercise of warrant and stock options</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
February 2007, an investor exercised its warrant to purchase 3,557,812 shares
for a total consideration of $500,000, or an average of $0.14 per
share.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 15, 2008 the Company issued 16,671 shares of unregistered common stock
in accordance to its 2006 Stock Incentive Plan to an employee exercising vested
options.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of common stock pursuant to private placements</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
22, 2007, the Company entered into a $16 million common stock purchase agreement
(the &#8220;Purchase Agreement&#8221;) with Fusion Capital Fund II, LLC (&#8220;Fusion&#8221;), an
Illinois limited liability company. Under the Purchase Agreement, the Company
received $500,000 from Fusion Capital on the signing of the agreement and
received additional $500,000 on July 20, 2007 when a registration statement
related to the transaction was filed with the SEC. Concurrently with entering
into the Purchase Agreement, the Company entered into a registration rights
agreement (the &#8220;Registration Agreement&#8221;) with Fusion. Under the Registration
Agreement, we filed a registration statement with the SEC covering the shares
that have been issued or may be issued to Fusion under the common stock purchase
agreement. The SEC declared effective the registration statement on October 12,
2007 and the Company has the right over a 25-month period to sell our shares of
common stock to Fusion from time to time in amounts between $100,000 and $1
million, depending on certain conditions as set forth in the agreement, up to an
additional $15 million.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
consideration for entering into the $16 million Purchase Agreement, which
provides for up to $15 million of future funding as well as the $1 million of
funding prior to the registration statement being declared effective by the SEC,
we agreed to issue to Fusion 3,168,305 shares of our common stock. The purchase
price of the shares related to the $15 million of future funding will be based
on the prevailing market prices of the Company&#8217;s shares at the time of sales
without any fixed discount, and the Company will control the timing and amount
of any sales of shares to Fusion. Fusion shall not have the right or the
obligation to purchase any shares of our common stock on any business day that
the price of our common stock is below $0.45. The Purchase Agreement may be
terminated by us at any time at our discretion without any cost to us. The
Company has sold to Fusion 795,495 shares for a total consideration of $400,000,
before expenses related to the share issuances.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2007, the Company issued 5,013,800 shares to investors for a total consideration
of approximately $1,783,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-38</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
February 2008 the Company issued a total of 3,198,529 unregistered shares of
common stock in private placements for an aggregate consideration of $298,900,
net of commissions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2008 the Company issued a total of ten million unregistered shares of common
stock in a private placement, for an aggregate consideration of $500,100. In
addition, the investor received a warrant to purchase seven million unregistered
shares of common stock during a 3-year period, at an exercise price of $0.13 per
share. Of the total consideration, $100,000 was paid in March and $400,100 was
paid on April 7, 2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
of preferred stock pursuant to private placement</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August
2008, the Company issued 2,000 unregistered Preferred A Shares, as well as a
warrant to purchase additional 1,000 Preferred A Shares, for a cash payment of
$1.5 million and the cancellation of two notes in aggregate amount of
$500,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2008, the Company issued 2,000 unregistered Preferred B Shares, as well
as a warrant to purchase additional 2,000 Preferred B Shares, for a cash payment
of $2.0 million.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also, see
Note - 15 Preferred stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">18.&#160;&#160;</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">INCOME
TAXES</font> </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the
years ended December 31, 2008 and 2007, the Company&#8217;s net tax provision was
zero.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
difference between the effective income tax rate and the United States federal
income tax rate is summarized as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div align="left">
          <div align="left">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="66%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Statutory
      federal rate</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(34.0</font></td>
                    <td align="left" nowrap valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%)</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(34.0</font></td>
                    <td align="left" nowrap valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%)</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="66%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">State
      income tax</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.6</font></td>
                    <td align="left" nowrap valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%)</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(3.6</font></td>
                    <td align="left" nowrap valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%)</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="66%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Effect
      of permanent differences</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.0</font></td>
                    <td align="left" nowrap valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.6</font></td>
                    <td align="left" nowrap valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Change
      in valuation allowance</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">34.6</font></td>
                    <td align="left" nowrap valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">36.0</font></td>
                    <td align="left" nowrap valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td valign="bottom" width="66%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.0</font></td>
                    <td align="left" nowrap valign="bottom" width="3%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.0</font></td>
                    <td align="left" nowrap valign="bottom" width="3%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">%</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
deferred tax asset consisted of the following at&#160;December 31:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div align="left">
          <div align="left">
            <div align="left">
              <div align="left">
                <div align="center">
                  <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                        <td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" colspan="2" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" colspan="2" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                        </td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr><tr bgcolor="#cceeff">
                        <td align="left" valign="bottom" width="66%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Net
      operating losses</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,803,000</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,156,000</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr><tr bgcolor="white">
                        <td align="left" valign="bottom" width="66%">
                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Other
      deferred tax assets</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">206,000</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">79,000</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr><tr bgcolor="#cceeff">
                        <td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 2px">
                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Valuation
      allowance</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(4,009,000</font></font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">( 2,235,000</font></font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                      </tr><tr bgcolor="white">
                        <td align="left" valign="bottom" width="66%" style="PADDING-BOTTOM: 4px">
                          <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                        </td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0</font></font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                        <td align="right" valign="bottom" width="14%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0</font></font></td>
                        <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr><tr bgcolor="#cceeff">
                        <td align="left" valign="bottom" width="66%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="right" valign="bottom" width="14%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      </tr></table>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
assessing the ability to realize a portion of deferred tax assets, management
considers whether it is more likely than not that some portion or all of the
deferred tax assets will not be realized. The ultimate realization of deferred
tax assets is dependent upon the generation of future taxable income during the
periods in which those temporary differences become deductible. Management
considers the scheduled reversal of deferred tax liabilities and projected
future taxable income in making the assessment. The valuation allowance for
deferred tax assets as of December&#160;31, 2008 and December&#160;31, 2007 was
$4.0 million and $2.2 million, respectively. The increase in valuation allowance
was $1.8 million and $1.3 million in 2008 and 2007, respectively. The increase
in valuation allowance was primarily attributable to the increase in net
operating losses. The Company has recorded a valuation allowance at December 31,
2008 of $4.0 million or 100% of the assets.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-39</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
operating loss carry forwards expire:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div align="left">
          <div align="center">
            <div align="left">
              <div align="left">
                <div align="left">
                  <div style="TEXT-ALIGN: center" align="left">
                    <table cellpadding="0" cellspacing="0" width="50%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff" style="TEXT-ALIGN: center;">
                          <td align="left" valign="bottom" width="77%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2024</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">95,699</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="white">
                          <td align="left" valign="bottom" width="77%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2025</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">787,446</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="#cceeff">
                          <td align="left" valign="bottom" width="77%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2026</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,392,190</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="white">
                          <td align="left" valign="bottom" width="77%">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2027</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,303,187</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="#cceeff">
                          <td align="left" valign="bottom" width="77%" style="PADDING-BOTTOM: 2px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2028</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="20%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4,528,859</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="white">
                          <td align="left" valign="bottom" width="77%" style="PADDING-BOTTOM: 4px">
                            <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                          </td>
                          <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                          <td align="right" valign="bottom" width="20%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,107,381</font></td>
                          <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr><tr bgcolor="#cceeff">
                          <td align="left" valign="bottom" width="77%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="right" valign="bottom" width="20%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                          <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        </tr></table>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company&#8217;s net operating loss carry forwards may be limited due to ownership
changes pursuant to Internal Revenue Code section 382.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In July
2006, the FASB issued Interpretation No. 48, &#8220;Accounting for Uncertainty in
Income Taxes &#8211; an Interpretation of FASB Statement No. 109&#8221; ((&#8220;FIN48&#8221;). This
Interpretation prescribes a consistent recognition threshold and measurement
standard, as well as clear criteria for subsequently recognizing, derecognizing
and measuring tax positions for financial statement purposes. The Interpretation
also requires expanded disclosure with respect to uncertainties as they relate
to income tax accounting. Fin 48 is effective for fiscal years beginning after
December 15, 2006. Management has evaluated all of its tax positions and
determined that FIN 48 did not have a material impact on the Company&#8217;s financial
position or results of operations during its year ended December 31,
2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STOCK-BASED
COMPENSATION</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company adopted an Incentive Stock Plan on January 18, 2007. This plan is
intended to provide incentives which will attract and retain highly competent
persons at all levels as employees of the Company, as well as independent
contractors providing consulting or advisory services to the Company, by
providing them opportunities to acquire the Company's common stock or to receive
monetary payments based on the value of such shares pursuant to Awards issued.
While the plan terminates 10 years after the adoption date, issued options have
their own schedule of termination. Until 2017, options to acquire up to 16.0
million shares of common stock may be granted at no less than fair market value
on the date of grant. Upon exercise, shares of new common stock are issued by
the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has issued approximately 13.4 million options to purchase shares at an
average price of $0.07 with a fair value of $527,000. For the year ended
December 31, 2008 and December 31, 2007, the Company recognized $196,794 and
$138,000, respectively, of non-cash compensation expense (included in General
and Administrative expense in the accompanying Consolidated Statement of
Operations). As of December 31, 2008 and December 31, 2007, the Company had
approximately $192,000 and $488,000, respectively, of unrecognized pre-tax
non-cash compensation expense which the Company expects to recognize, based on a
weighted-average period of 0.9 years. The Company used the Black-Scholes
option-pricing model and straight-line amortization of compensation expense over
the two to three year requisite service or vesting period of the grant. There
are options to purchase approximately 5.1 million shares that have vested, and
16,671 shares were exercised as of December 31, 2008. The following is a summary
of the assumptions used:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-40</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div align="center">
          <div align="center">
            <table cellpadding="0" cellspacing="0" width="45%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                  <td align="left" valign="top" width="44%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Risk-free&#160;interest&#160;rate</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="24%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.7%
      - 4.9%</font></div>
                  </td>
                </tr><tr>
                  <td align="left" valign="top" width="44%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected&#160;dividend&#160;yield</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="24%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;&#160;&#160;</font></div>
                  </td>
                </tr><tr>
                  <td align="left" valign="top" width="44%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected
      term</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="24%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3 &#8211;
      5 &#160;years</font></div>
                  </td>
                </tr><tr>
                  <td align="left" valign="top" width="44%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expected
      annual volatility</font></div>
                  </td>
                  <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="bottom" width="24%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">73%&#160;-&#160;82%</font></div>
                  </td>
                </tr></table>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Elite FX
granted on January 19, 2007, prior to the merger with Celsius Holdings, Inc,
equivalent to 1,337,246 shares of common stock in the Company, to its Chief
Financial Officer as starting bonus for accepting employment with the Company.
The Company valued the grant of stock based on fair value of the shares, which
was estimated as the value of shares in the most recent transaction of the
Company&#8217;s shares. The Company recognized the expense upon issuance of the
grant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;In
March, 2008, the Company issued a total of 750,000 shares as compensation to an
international distributor at a fair value of $120,000. The same agreement can
give the distributor 750,000 additional shares if certain sales targets are met,
or if the stock price of the Company is 45 cents or greater for a period of 5
trading days, whichever occurs first.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008 the Company issued a total of 183,135 shares as compensation to a
consultant and a distributor at a fair value of $11,450. The consultant will
receive additional shares with fair value of $2,000 monthly as long as the
consultancy agreement continues. The distributor can receive additional shares
depending on its purchases until end of March 2009.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table summarizes information about options for purchase of shares;
granted, exercised and forfeited during the two-year period ending
December&#160;31, 2008:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
      <div>
        <div align="left">
          <div align="center">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="85%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Shares</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" valign="bottom" width="22%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      Average</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      Average</font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Remaining
      Contractual </font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr>
                    <td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(in</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fair</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Term
      </font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr>
                    <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Options</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">thousands)</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Price</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Value</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(in years)</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">at
      December&#160;31, 2006</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;
      </font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,872</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.09</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.05</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercised</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;
      </font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;
      </font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeiture</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(201</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">0.02</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">0.01</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="10%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At
      December 31, 2007</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,671</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.02</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.05</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6.7</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,970</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.11</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercised</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(17</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.02</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.01</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeiture</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(1,177</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">0.45</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">0.26</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="52%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At
      December 31, 2008</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">13,447</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">0.07</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">0.04</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.9</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercisable
      at December 31, 2008</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5,088</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.04</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.1</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="52%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Available
      for future grant</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,475</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-41</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table summarizes information about options outstanding at
December&#160;31, 2008:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <div>
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="85%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Range&#160;of&#160; Exercise </font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font> </div>
                    </td>
                    <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding&#160;at</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008
      (000s)</font> </div>
                    </td>
                    <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Remaining&#160;Life</font>&#160;&#160;</font> </div>
                    </td>
                    <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> &#160; </td>
                    <td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font> </div>
                    </td>
                    <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercisable&#160;at</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008
      (000s)</font> </div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td colspan="2" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font> </div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Remaining</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Life
      in</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Years</font> </div>
                    </td>
                  </tr><tr bgcolor="#cceeff">
                    <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                    <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.02</font> </td>
                    <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="19%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10,162</font> </div>
                    </td>
                    <td valign="bottom" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.4</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%"> &#160;$ </td>
                    <td valign="bottom" width="12%" style="TEXT-ALIGN: right">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.02</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,488</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="9%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.02</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="13%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.4</font> </div>
                    </td>
                  </tr><tr bgcolor="white">
                    <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                    <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.08
      - $0.11</font> </td>
                    <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="19%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,835</font> </div>
                    </td>
                    <td valign="bottom" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.9</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%"> &#160;$ </td>
                    <td valign="bottom" width="12%" style="TEXT-ALIGN: right">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;0.11</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,450</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="9%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.11</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="13%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3</font> </div>
                    </td>
                  </tr><tr bgcolor="#cceeff">
                    <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                    <td valign="bottom" width="9%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.23
      - $0.60</font> </td>
                    <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="19%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50</font> </div>
                    </td>
                    <td valign="bottom" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.8</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%"> &#160;$ </td>
                    <td valign="bottom" width="12%" style="TEXT-ALIGN: right">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.42</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="15%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">17</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="9%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.42</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="13%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.8</font> </div>
                    </td>
                  </tr><tr bgcolor="white">
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                    <td valign="bottom" width="9%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.84
      - $1.10</font> </td>
                    <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#160;&#160;&#160;&#160;400</font></font> </div>
                    </td>
                    <td valign="bottom" width="18%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> &#160;$ </td>
                    <td valign="bottom" width="12%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: right">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;0.91</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#160;&#160;&#160;133</font></font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.91</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="13%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.5</font> </div>
                    </td>
                  </tr><tr bgcolor="#cceeff">
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="9%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="19%" style="BORDER-BOTTOM: black 4px double">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">13,447</font></font> </div>
                    </td>
                    <td valign="bottom" width="18%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.6</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> &#160;$ </td>
                    <td valign="bottom" width="12%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">5,088</font></font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="9%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td align="right" valign="bottom" width="13%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.1</font> </div>
                    </td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following table summarizes information about non-vested options outstanding at
December&#160;31, 2008:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <div align="left">
          <div align="center">
            <div style="TEXT-ALIGN: center" align="left">
              <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr style="TEXT-ALIGN: center;">
                    <td align="left" valign="bottom" width="65%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="17%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number
      of</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="14%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average Grant</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr>
                    <td valign="bottom" width="65%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font>

                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total
      Non-vested options</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="17%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">shares </font></font></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(000s)</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Date Fair Value</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="65%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At
      December 31, 2006</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="65%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,872</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.05</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="65%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vested</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(134</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.01</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(</font><font style="DISPLAY: inline">20</font><font style="DISPLAY: inline">1</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#160;</font><font style="DISPLAY: inline">0.01</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="65%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At
      December 31, 2007</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">11,537</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.06</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="65%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,970</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="65%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Vested</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(5,171</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.05</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Forfeited</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">(977</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">)</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">&#160;</font><font style="DISPLAY: inline">0.</font><font style="DISPLAY: inline">27</font></font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">At
      December 31, 2008</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">8</font><font style="DISPLAY: inline">,</font><font style="DISPLAY: inline">359</font></font> </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">0.04</font></font> </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">20.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">STOCK
OPTIONS AND WARRANTS</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
terms of the Merger Agreement with Vector Ventures, Corp., see further Note 1 to
the Consolidated Financial Statements, the Company issued warrants to Investa
Capital Partners Inc. representing 3,557,812 shares of Common Stock of the
Company, which were exercised on February 9, 2007 for an aggregate consideration
of $500,000 in cash.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">An
investment banking firm received, as placement agent for the Fusion Capital
financing, a warrant to purchase 75,000 shares at a price of $1.31 per share. If
unexercised, the warrant expires on June 22, 2012.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March,
2008 the Company issued a total of 10,000,000 unregistered shares of common
stock in a private placement, for an aggregate consideration of $500,100. In
addition, the investor received a warrant to purchase seven million unregistered
shares of common stock at an exercise price of $0.13 per share. If unexercised,
the warrant expires on March 28, 2011.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-42</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
8, 2008, the Company entered into a securities purchase agreement with CDS, as
further described in Note 15 to the Consolidated Financial Statements. In
connection with the security purchase, CDS received a warrant to purchase an
additional 1,000 Preferred A Shares, at a price of $1,000 per share. If
unexercised, the warrant expires on July 10, 2010. The Preferred A Shares can be
converted into our common stock at any time; until the December 31, 2010, (as
amended on December 12, 2008), the conversion price is $0.08, after which the
conversion price is the greater of $0.08 or 90% of the volume weighted average
price of the common stock for the prior 10 trading days. The Preferred A Shares
accrue ten percent annual cumulative dividend, payable in additional Preferred A
Shares.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 12, 2008, the Company entered into another securities purchase
agreement with CDS, as further described in Note 15 to the Consolidated
Financial Statements. In connection with the security purchase, CDS received a
warrant to purchase an additional 2,000 Preferred B Shares, at a price of $1,000
per share. If unexercised, the warrant expires on December 31,
2009.&#160;&#160;The Preferred B Shares can be converted into our common stock
at any time.&#160;&#160;Until December 31, 2010, the conversion price is $0.05,
after which the conversion price is the greater of $0.05 or 90% of the volume
weighted average price of the common stock for the prior 10 trading days. The
Preferred B Shares accrue a ten percent annual cumulative dividend, payable in
additional Preferred B Shares.&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div align="left">
          <div align="center">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="85%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td valign="bottom" width="44%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year
      Ended December 31, 2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="6" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Year
      Ended December 31, 2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr>
                    <td valign="bottom" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thousands
      of</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      Average</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thousands
      of</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      Average</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr>
                    <td valign="bottom" width="44%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Warrants</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Exercise Price</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Warrants</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Exercise Price</font></font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="44%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      at the beginning of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="44%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Granted</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,500</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,633</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.16</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="44%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercised</font></div>
                    </td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3,558</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.14</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Expired</font></div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#8212;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Balance
      at the end of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,575</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td valign="bottom" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrants
      exercisable at end of year</font></div>
                    </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,575</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.07</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.31</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td valign="bottom" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted
      average fair value of the</font> </div>
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">warrants
      granted during the year</font> </div>
                      </div>
                    </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="right" valign="bottom" width="11%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0.03</font> </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="right" valign="bottom" width="11%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font> </td>
                    <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.85</font> </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
weighted average remaining contractual life and weighted average exercise price
of warrants outstanding and exercisable at December 31, 2008, for selected
exercise price ranges, is as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
        <div align="center">
          <div align="center">
            <div align="center">
              <table cellpadding="0" cellspacing="0" width="75%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td valign="bottom" width="30%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Range&#160;of&#160;Exercise</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Outstanding&#160;at</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">December&#160;31,</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008
      (000s)</font> </div>
                    </td>
                    <td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td valign="bottom" width="23%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Remaining&#160;Life</font> </div>
                    </td>
                    <td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"> &#160; </td>
                    <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Weighted</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Average</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exercise</font> </div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Price</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                  </tr><tr bgcolor="#cceeff">
                    <td valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.05</font></div>
                    </td>
                    <td align="left" valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="24%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">40,000</font></div>
                    </td>
                    <td valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="23%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.0</font></div>
                    </td>
                    <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.05</font></div>
                    </td>
                    <td align="left" valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                  </tr><tr bgcolor="white">
                    <td valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.08</font></div>
                    </td>
                    <td valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="24%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">12,500</font></div>
                    </td>
                    <td valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="23%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.5</font></div>
                    </td>
                    <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.08</font></div>
                    </td>
                    <td align="left" valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                  </tr><tr bgcolor="#cceeff">
                    <td valign="top" width="30%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.13</font></div>
                    </td>
                    <td valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="24%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7,000</font></div>
                    </td>
                    <td valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="23%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.2</font></div>
                    </td>
                    <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.13</font></div>
                    </td>
                    <td align="left" valign="bottom" width="2%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                  </tr><tr bgcolor="white">
                    <td valign="top" width="30%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.31</font></div>
                    </td>
                    <td align="left" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">75</font></div>
                    </td>
                    <td align="left" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="23%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.6</font></div>
                    </td>
                    <td valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$1.31</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                  </tr><tr bgcolor="#cceeff">
                    <td valign="top" width="30%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font></div>
                    </td>
                    <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 4px double">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">59,575</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="2%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;&#160;</font> </div>
                    </td>
                    <td valign="bottom" width="23%" style="BORDER-BOTTOM: black 4px double">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -4.55pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.3</font> </div>
                    </td>
                    <td valign="bottom" width="2%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                    <td valign="bottom" width="18%" style="BORDER-BOTTOM: black 4px double">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$0.07</font> </div>
                    </td>
                    <td align="left" valign="bottom" width="2%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-43</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
HOLDINGS, INC. AND SUBSIDIARIES</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS (continued)</font><br>&#160;</div>
      </div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">21.&#160;&#160;</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">OPERATING
LEASES</font> </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company entered into a new office lease effective October 2008. The monthly rent
amounts to $6,717 per month and the lease terminates in September 2009. Future
annual minimum payments required under operating lease obligations at December
31, 2008 are as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      </div>
      <div>
        <div align="left">
          <div align="left">
            <div align="left">
              <div align="center">
                <table cellpadding="0" cellspacing="0" width="50%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                      <td colspan="4" valign="bottom" width="74%" style="TEXT-ALIGN: center"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Future
      Minimum</font></font> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Lease
      Payments</font></font> </td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr>
                      <td align="left" valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" colspan="2" valign="bottom" width="23%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr bgcolor="#cceeff">
                      <td align="left" valign="bottom" width="74%">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2009</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="9%">
                        <div style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></div>
                      </td>
                      <td align="right" valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60,453</font></td>
                      <td align="left" nowrap valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr bgcolor="white">
                      <td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2010
      and thereafter</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">0</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr><tr bgcolor="#cceeff">
                      <td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 4px">
                        <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                      </td>
                      <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                      <td align="left" valign="bottom" width="9%" style="BORDER-BOTTOM: black 4px double">
                        <div style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></div>
                      </td>
                      <td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">60,453</font></td>
                      <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    </tr></table>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">22.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMMITMENTS
AND CONTINGENCIES</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has entered into distribution agreements with liquidated damages in case
the Company cancels the distribution agreements without cause. Cause has been
defined in various ways. It is the management belief that no such agreement has
created any liability as of today&#8217;s date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There is
one agreement that also has liquidated damages, but instead of a monetary
damage, the potential liability is to have to issue shares to the distributor at
a purchase price of $0.06. The quantity of shares depends on this distributor&#8217;s
purchases from the Company as compared to the Company&#8217;s total
revenue.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BUSINESS
AND CREDIT CONCENTRATION</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Substantially
all of the Company&#8217;s revenue derives from the sale of the Celsius
beverage.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company uses single supplier relationships for its raw materials purchases and
filling capacity, which potentially subjects the Company to a concentration of
business risk. If these suppliers had operational problems or ceased making
product available to the Company, operations could be adversely affected. No
vendor accounted for more than 10% of total payments.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
2008, the Company sold in one order to one international customer 15.9% of the
Company&#8217;s total revenue for the year. There is no assurance that this customer
will order again.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">24.&#160;&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NON-CASH
INVESTING AND FINANCING ACTIVITIES</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <div align="left">
          <div align="center">
            <div style="TEXT-ALIGN: center" align="left">
              <table cellpadding="0" cellspacing="0" width="65%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr style="TEXT-ALIGN: center;">
                    <td align="left" valign="bottom" width="69%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">For
      the years ended December 31,</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" colspan="2" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" colspan="2" valign="bottom" width="14%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 15.35pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2007</font></div>
                    </td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="69%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of shares for note payable</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2,079,563</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">250,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="69%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Debt
      discount for beneficial conversion feature</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">170,460</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">243,838</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="69%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of debenture for note receivable</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,250,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="white">
                    <td align="left" valign="bottom" width="69%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of shares for termination of contract</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">274,546</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr><tr bgcolor="#cceeff">
                    <td align="left" valign="bottom" width="69%" style="PADDING-BOTTOM: 4px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Issuance
      of notes payable for termination of contract</font></div>
                    </td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">-</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                    <td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">250,000</font></td>
                    <td align="left" nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr></table>
            </div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">F-44</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div align="left">
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td colspan="2" valign="top" width="39%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; PADDING-BOTTOM: 1px; BORDER-LEFT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">We
      have not authorized any dealer, salesperson or other person to provide any
      information or make any representations about Celsius Holdings, Inc.
      except the information or representations contained in this prospectus.
      You should not rely on any additional information or representations if
      made.</font></div>
              </td>
              <td rowspan="21" valign="top" width="41%" style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">PROSPECTUS</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font id="TAB1" style="MARGIN-LEFT: 108pt">&#160;</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">____________________</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">900,000
      Units</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Each
      Unit Consisting of</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Four
      Shares of Common Stock and </font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">One
      Warrant to Purchase One</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Share
      of Common Stock</font></div>
                </div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
      HOLDINGS, INC.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> February___, 2010</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
                </div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">Ladenburg
      Thalmann &amp; Co. Inc.</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: times new roman">Maxim
      Group LLC</font></div>
              </td>
            </tr><tr>
              <td colspan="2" valign="top" width="39%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td colspan="2" valign="top" width="39%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">This
      prospectus does not constitute an offer to sell, or a solicitation of an
      offer to buy any securities:</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid">
                <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 20pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">except
      the securities offered by this prospectus;</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid">
                <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 20pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">in
      any jurisdiction in which the offer or solicitation is not
      authorized;</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid">
                <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 20pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">in
      any jurisdiction where the dealer or other&#160;&#160;salesperson is not
      qualified to make the offer or solicitation;</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid">
                <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 20pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">to
      any person to whom it is unlawful to make the offer or solicitation;
      or</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid">
                <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 20pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">to
      any person who is not a United States resident or who is outside the
      jurisdiction of the United States.</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td colspan="2" valign="top" width="39%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The
      delivery of this prospectus or any accompanying sale does not imply
      that:</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid">
                <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 20pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">there
      have been no changes in the affairs of Celsius Holdings, Inc. after the
      date of this prospectus; or</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid">
                <div style="MARGIN-LEFT: 40pt; TEXT-INDENT: 20pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: symbol, serif">&#183;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font></div>
              </td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">the
      information contained in this prospectus is correct after the date of this
      prospectus.</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="5%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="34%" style="BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td colspan="2" valign="top" width="39%" style="BORDER-RIGHT: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: justify">
                <div style="DISPLAY: block; MARGIN-LEFT: 5pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 3.6pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Until
      _______ ___, 2010 (25 days after the date of this prospectus), all dealers
      effecting transactions in the registered securities, whether or not
      participating in this distribution, may be required to deliver a
      prospectus. This is in addition to the obligation of dealers to deliver a
      prospectus when acting as
underwriters.</font></div>
              </td>
            </tr></table>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="center">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="ii">PART II</a></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INFORMATION
NOT REQUIRED IN THE PROSPECTUS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
13. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div align="center">
          <table cellpadding="0" cellspacing="0" width="70%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
                <td valign="bottom" width="82%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SEC
      registration fee</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="15%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1,693.00</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="82%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Printing
      Expenses</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="15%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">15,000.00</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="82%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Accounting
      fees and expenses</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">50,000.00</font></td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="82%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Legal
      fees and expense</font></div>
                </td>
                <td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="15%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">240,000.00</font> </td>
                <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="#cceeff">
                <td valign="bottom" width="82%" style="PADDING-BOTTOM: 2px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Miscellaneous</font></div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">93,307.00</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr bgcolor="white">
                <td valign="bottom" width="82%" style="PADDING-BOTTOM: 4px">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Total</font></div>
                </td>
                <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">$</font></td>
                <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">400,000.00</font> </td>
                <td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All
amounts except for the SEC registration fee are estimates. We are paying all
expenses of the offering listed above.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
14.&#160;&#160;INDEMNIFICATION OF DIRECTORS AND OFFICERS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Nevada Revised Statutes and our bylaws provide for the indemnification of our
directors, officers, employees and other persons against claims and liability by
reason of serving as a director, officer or employee.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indemnification
Under Nevada Law</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nevada
law generally permits us to indemnify our directors, officers, employees and
agents. Pursuant to the provisions of Nevada Revised Statutes 78.7502, a
corporation may indemnify its directors, officers, employees and agents as
follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 35pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a) A
corporation may indemnify any person who was or is a party or is threatened to
be made a party to any action, except an action by or in the right of the
corporation, by reason of the fact that he is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the
corporation, against expenses, actually and reasonably incurred by him in
connection with the action, suit or proceeding if he: (a) is not liable for
breach of his fiduciary duties as a director or officer pursuant to Nevada
Revised Statutes 78.138; or (b) acted in good faith and in a manner which he
reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his conduct was unlawful.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 35pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) A
corporation may indemnify any person who was or is a party or is threatened to
be made a party to any action by or in the right of the corporation to procure a
judgment in its favor, by reason of the fact that he is or was a director,
officer, employee or agent of the corporation, or is or was serving at the
request of the corporation against expenses actually and reasonably incurred by
him in connection with the defense or settlement of the action or suit if he:
(a) is not liable for breach of his fiduciary duties pursuant to Nevada Revised
Statutes 78.138; or (b) acted in good faith and in a manner which he reasonably
believed to be in or not opposed to the best interests of the corporation.
Indemnification may not be made for any claim, issue or matter as to which such
a person has been adjudged by a court of competent jurisdiction, after
exhaustion of all appeals therefrom, to be liable to the corporation or for
amounts paid in settlement to the corporation, unless and only to the extent
that the court in which the action or suit was brought or other court of
competent jurisdiction determines upon application that in view of all the
circumstances of the case, the person is fairly and reasonably entitled to
indemnity for such expenses as the court deems proper.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">II-1</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 35pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c) To
the extent that a director, officer, employee or agent of a corporation has been
successful on the merits or otherwise in defense of any action, suit or
proceeding, or in defense of any claim, issue or matter therein, the corporation
shall indemnify him against expenses, including attorneys&#8217; fees, actually and
reasonably incurred by him in connection with the defense.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Articles
of Incorporation and Other Arrangements of the Registrant</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
articles of incorporation provide for the indemnification of every person that
is or was a director or officer of the Company or is or was serving at the
request of the Company as a director or officer of another corporation, or as
its representative in a partnership, joint venture, trust or other enterprise.
The articles of incorporation provide that such right of indemnification shall
be a contract right which may be enforced in any manner desired by such
person.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to our directors, officers and controlling persons pursuant to the
provisions described above, or otherwise, we have been advised that in the
opinion of the Securities and Exchange Commission, such indemnification is
against public policy as expressed in the Securities Act of 1933 and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than our payment of expenses incurred or paid by our
director, officer or controlling person in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, we will, unless in the
opinion of our counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question of whether such
indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
15. RECENT SALES OF UNREGISTERED SECURITIES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 24, 2007, we entered into a merger agreement and plan of reorganization
with Celsius, Inc., Elite FX, Inc. and Stephen C. Haley, the &#8220;Indemnifying
Officer&#8221; and &#8220;Securityholder Agent&#8221; of Elite FX, Inc. pursuant to which Elite
FX, Inc. was merged into Celsius, Inc. upon execution of the merger agreement
and thereupon became our wholly-owned subsidiary.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the
terms of the merger agreement, we issued:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3,478,750
      shares of our common stock to the shareholders of Elite FX, Inc. as full
      consideration for the shares of Elite FX,
Inc.;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">69,575
      shares of our commons stock and a promissory note in the amount of
      $250,000.00 to Specialty Nutrition Group, Inc. as consideration for
      termination of a consulting agreement and assignment of certain trademark
      rights to the name &#8220;Celsius.&#8221;</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">These
shares of our common stock and the note qualified for exemption under Section
4(2) of the Securities Act of 1933 since the issuance shares by us did not
involve a public offering. The offerings were not &#8220;public offerings&#8221; as defined
in Section 4(2) due to the insubstantial number of persons involved in the deal,
size of the offering, and manner of the offering and number of shares offered.
We did not undertake an offering in which we sold a high number of shares or
notes to a high number of investors. In addition, these securityholders agreed
to the necessary investment intent as required by Section 4(2). Based on an
analysis of the above factors, we have met the requirements to qualify for
exemption under Section 4(2) of the Securities Act of 1933 for these
transactions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, under the terms of the merger agreement, we issued:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">warrants
      to Investa Capital Partners Inc. representing 177,891 shares of our common
      stock which were exercised by on February 9, 2007 for an aggregate
      consideration of $500,000 in cash.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify">
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: justify; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top" style="TEXT-ALIGN: justify;">
              <td align="right" style="WIDTH: 65pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">65,000
      shares of our common stock in a concurrent private placement to non-US
      resident investors for aggregate consideration of US$650,000 which
      included the conversion of a $250,000 loan to
  us.</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">II-2</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May
15, and June 2, 2007, we issued 1,500 and 2,500 shares of our common stock,
respectively to RedChip Companies as consideration for investor relations
services. The shares were valued at $70,500 based on the then current market
price.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
15, 2007, we issued 1,250 shares of our common stock to Fusion Capital, LLC as
non-allocable expense reimbursement to cover such items as travel expenses and
other expenses in connection with their due diligence of a finance transaction
with us.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
22 and July 16, 2007, we issued a total of 158,415 shares of our common stock
for a total consideration of $1.0 million as part of the securities purchase
agreement with Fusion Capital, LLC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September and October, 2007we issued a total of 12,500 shares of our commons
stock for a total consideration of $100,000 as part of a private
placement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 1, 2007, we issued 1,500 shares of our common stock as consideration for
a trademark agreement. The shares were valued at $16,500 based on the then
current market price.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 25, 2007, we issued 5,000 shares of our common stock as consideration
for a licensing agreement. The shares were valued at $53,000 based on the then
current market price.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 22, 2008, we 50,000 shares of our common stock and a note for $105,000
to Brennecke Partners, LLC in exchange for the note issued on April 7, 2007 and
accrued interest having an aggregate value of $225,155.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 15, 2008, we issued 834 shares of our common stock in pursuant to our
2006 Stock Incentive Plan to an employee exercising vested options.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
February 2008, we issued a total of 159,926 shares of our common stock in
private placements for an aggregate consideration of $298,900, net of
commissions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
2008, we issued a total of 37,500 shares of our common stock as compensation to
an international distributor for an aggregate consideration of
$120,000.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March 2008, we issued a
total of 500,000 shares of our common stock in a private placement, for an
aggregate consideration of $500,100. In addition, the investor received a
three-year warrant to purchase 350,000 additional shares of our common stock at
an exercise price of $2.60 per share.</font></div>
      <div style="TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June 2008, we issued
559,201 unregistered shares of our common stock upon conversion of $750,000 in
convertible notes that were originally issued in December 2007 and April
2008.</font></div>
      <div style="TEXT-ALIGN: justify">&#160;</div>
      <div style="TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In August 2008, we issued
100 shares of our Series A preferred stock for a consideration of $2.0 million,
of which $500,000 was paid through cancellation of two previously issued notes
of $250,000 each and a cash payment of $1.5 million.</font></div>
      <div style="TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In June
through December 2008, we issued 842,332 shares of our common stock as partial
conversion of a convertible debenture issued in December 2007.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September through December 2008, we issued 7,907 shares of our common stock to a
consultant with a fair value of $10,000 for services.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
September 2008, we issued 1,250 shares of our common stock with a fair value of
$1,450 to a distributor.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
December 2008, we issued 100 shares of our Series B preferred stock for a
consideration of $2.0 million.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -27pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
January through December 2009, we issued 11,051 shares of our common stock to a
consultant with a fair value of $26,000 for services.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In March
2009, we issued 3,750 shares of our common stock with a fair value of $10,125 to
a distributor.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In April
and May, 2009, we issued 100 shares of our Series B preferred stock for a
consideration of $2.0 million in aggregate.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In May
2009, we issued 58,441 shares of our common stock as partial conversion of a
convertible debenture issued in December 2007.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
October and December 2009, we issued 51,923 shares of our common stock as
partial conversion of a convertible debenture issued in December
2007.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">II-3</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
November 2009, we issued 50 shares of our Series A preferred stock for a
consideration of $1.0 million in the form of cancellation of a previously issued
promissory note for $1.0 million.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
December 2009, we issued 4,343,000 shares of common stock in conversion for
4,011 shares of Series B preferred stock and accrued dividends on the same
shares.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
December 2009, we issued 11 shares of our Series A preferred stock in dividend
for the calendar year 200</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">9.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
believe that all of the foregoing sales qualified for exemption under Section
4(2) of the Securities Act of 1933 since the issuance of the securities by us
did not involve a public offering. The offerings were not &#8220;public offerings&#8221; as
defined in Section 4(2) due to the insubstantial number of persons involved in
the deal, size of the offering, and manner of the offering and number of shares
offered. We did not undertake any offering in which
we sold a high number of securities to a high number of investors. In addition,
these securityholders had and agreed to the necessary investment intent as
required by Section 4(2). Based on an analysis of the above factors, we have met
the requirements to qualify for exemption under Section 4(2) of and Regulation S
promulgated under the Securities Act of 1933 for these
transactions.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We did
not employ an underwriter in connection with the issuance of the securities
described above. We believe that the issuance of the foregoing securities was
exempt from registration under the Securities Act of 1933.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">All of
the per share numbers in this Item 14 have been adjusted to give effect to the
1-for 20 reverse stock split implemented in December 2009.</font> </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
16. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
Exhibits.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
exhibits filed with this registration statement or incorporated herein by
reference are set forth on the &#8220;Exhibit Index&#8221; set forth elsewhere
herein.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
Financial Statement Schedules.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Schedules
filed with this registration statement are set forth on the &#8220;Index to
Consolidated Financial Statements&#8221; set forth elsewhere herein.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
17.&#160;&#160;UNDERTAKINGS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
undersigned registrant hereby undertakes:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1. To
file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a) To
include any Prospectus required by Section 10(a)(3) of the Securities Act of
1933, as amended (the &#8220;Securities Act&#8221;);</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) To
reflect in the Prospectus any facts or events arising after the effective date
of this Registration Statement, or most recent post-effective amendment, which,
individually or in the aggregate, represent a fundamental change in the
information set forth in this Registration Statement; and notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospects filed with the SEC
pursuant to Rule 424(b) under the Securities Act if, in the aggregate, the
changes in the volume and price represent no more than a 20% change in the
maximum aggregate offering price set forth in the &#8220;Calculation of Registration
Fee&#8221; table in the effective registration statement; and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c) To
include any material information with respect to the plan of distribution not
previously disclosed in this Registration Statement or any material change to
such information in the registration statement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2. That,
for the purpose of determining any liability under the Securities Act , each
such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered herein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering
thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">II-4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3. To
remove from registration by means of a post-effective amendment any of the
securities being registered hereby which remain unsold at the termination of the
offering.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4. For
determining liability of the undersigned small business issuer under the
Securities Act to any purchaser in the initial distribution of the securities,
the undersigned small business issuer undertakes that in a primary offering of
securities of the undersigned small business issuer pursuant to this
Registration Statement, regardless of the underwriting method used to sell the
securities to the purchaser, if the securities are offered or sold to such
purchaser by means of any of the following communications, the undersigned small
business issuer will be a seller to the purchaser and will be considered to
offer or sell such securities to such purchaser:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a) Any
preliminary Prospectus or Prospectus of the undersigned small business issuer
relating to the offering required to be filed pursuant to Rule 424 of the
Securities Act;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) Any
free writing Prospectus relating to the offering prepared by or on behalf of the
undersigned small business issuer or used or referred to by the undersigned
small business issuer;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c) The
portion of any other free writing Prospectus relating to the offering containing
material information about the undersigned small business issuer or its
securities provided by or on behalf of the undersigned small business issuer;
and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d) Any
other communication that is an offer in the offering made by the undersigned
small business issuer to the purchaser.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Insofar
as indemnification for liabilities arising under the Securities Act may be
permitted to our directors, officers and controlling persons pursuant to the
provisions above, or otherwise, we have been advised that in the opinion of the
SEC such indemnification is against public policy as expressed in the Securities
Act, and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities, other than the payment by us of
expenses incurred or paid by one of our directors, officers, or controlling
persons in the successful defense of any action, suit or proceeding, is asserted
by one of our directors, officers, or controlling persons in connection with the
securities being registered, we will, unless in the opinion of our counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question of whether such indemnification is against
public policy as expressed in the Securities Act, and we will be governed by the
final adjudication of such issue.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
prospectus filed pursuant to Rule 424(b) as part of a registration statement
relating to an offering, other than registration statements relying on Rule 430B
of the Securities Act or other than prospectuses filed in reliance on Rule 430A
of the Securities Act, shall be deemed to be part of and included in the
registration statement as of the date it is first used after effectiveness.
Provided, however, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document
incorporated or deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will, as to a purchaser
with a time of contract of sale prior to such first use, supersede or modify any
statement that was made in the registration statement or prospectus that was
part of the registration statement or made in any such document immediately
prior to such date of first use.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5. For
the purpose<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">&#160;</font>determining
any liability under the Securities Act of 1933, the information omitted from the
form of prospectus filed as part of this registration statement in reliance upon
Rule 430A and contained in a form of prospectus filed by the registrant pursuant
to Rule 424(b)(1) or&#160;(4) or 497(h) under the Securities Act shall be deemed
to be part of this registration statement as of the time it was declared
effective.</font> </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">6. For
the purpose of determining any liability under the Securities Act of 1933, each
post-effective amendment that contains a form of prospectus shall be deemed to
be a new registration statement relating to the securities offered herein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</font> </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">II-5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNA<a name="sig">TUR</a>ES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
accordance with the requirements of the Securities Act, the registrant certifies
that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-1 and authorized Amendment No.
2 to this Registration Statement on Form S-1 to be signed on our behalf
by the undersigned, on February 8,
2010.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:&#160;&#160;&#160;&#160;&#160; February 8, 2010</font></div>
              </td>
              <td valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CELSIUS
      HOLDINGS, INC.</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-STYLE: italic">/s/Stephen C.
      Haley</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      </font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Stephen C. Haley</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Titles:Principal
      Executive Officer, Chief Executive Officer and
President</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic; TEXT-DECORATION: underline">/s/Geary
      W.
      Cotton&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      &#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Geary
      W. Cotton</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Titles:Principal
      Financial and Accounting Officer, Chief Financial Officer, Secretary and
      Treasurer</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">POWER
OF ATTORNEY</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ALL MEN BY THESE PRESENT</font>, that
each person whose signature appears below constitutes and appoints Stephen C.
Haley, true and lawful attorney-in-fact and agent, with full power of
substitution and re-substitution, for him and in his name, place and stead, in
any and all capacities, to sign any and all pre- or post-effective amendments to
this Registration Statement, and to file the same with all exhibits thereto, and
other documents in connection therewith, with the U.S. Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite or necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any one of them, or
their or his substitutes, may lawfully do or cause to be done by virtue hereof.
In accordance with the requirements of the Securities Act of 1933, as amended,
this Registration Statement was signed by the following persons in the
capacities and on the dates stated.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">In
accordance with the Securities Act, this Registration Statement has been signed
below by the following persons on their own behalf in the capacities and on the
dates stated.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Signatures</font></div>
                  </div>
                </td>
                <td valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title(s)</font></div>
                  </div>
                </td>
                <td valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date</font></div>
                  </div>
                </td>
              </tr><tr>
                <td valign="top" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">/s/
      Stephen C. Haley</font></div>
                  </div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chairman
      of the Board, Principal Executive Officer,</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      8, 2010</font> </div>
                </td>
              </tr><tr>
                <td valign="top" width="17%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stephen
      C. Haley</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Executive Officer and President</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr>
                <td valign="top" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">/s/
      Geary W. Cotton</font></div>
                  </div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director,
      Principal Financial and Accounting Officer, </font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      8, 2010</font> </div>
                </td>
              </tr><tr>
                <td valign="top" width="17%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Geary
      W. Cotton</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer, Secretary and Treasurer</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr>
                <td valign="top" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">/s/
      James Cast</font></div>
                  </div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      8, 2010</font> </div>
                </td>
              </tr><tr>
                <td valign="top" width="17%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">James
      Cast</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr>
                <td valign="top" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">/s/
      William H. Milmoe</font></div>
                  </div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      8, 2010</font> </div>
                </td>
              </tr><tr>
                <td valign="top" width="17%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">William
      H. Milmoe</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr>
                <td valign="top" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">/s/
      Thomas E. Lynch</font></div>
                  </div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      8, 2010</font> </div>
                </td>
              </tr><tr>
                <td valign="top" width="17%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Thomas
      E. Lynch</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr>
                <td valign="top" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">/s/
      Richard J Swanson</font></div>
                  </div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      8, 2010</font> </div>
                </td>
              </tr><tr>
                <td valign="top" width="17%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Richard
      J. Swanson</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr><tr>
                <td valign="top" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr><tr>
                <td valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/ s/ <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: times new roman">Christian
      A. Nast</font> </font></td>
                <td valign="top" width="2%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="top" width="32%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Director</font> </td>
                <td valign="top" width="2%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> </td>
                <td valign="top" width="12%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">February
      8, 2010</font> </td>
              </tr><tr>
                <td valign="top" width="17%"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: normal; FONT-FAMILY: times new roman">Christian
      A. Nast</font></font> </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="32%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="center">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">II-6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">INDEX
TO EXHIBITS</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibit
      No.</font></div>
                </td>
                <td valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Description</font></div>
                </td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Location</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Form
      of Underwriting Agreement</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Filed
      herewith</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Agreement
      and Plan of Reorganization dated January 26, 2007</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 2.1 to the Company&#8217;s Current Report on Form 8-K as
      filed with the SEC on February 2, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2.2</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Articles
      of Merger</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 2.1 to the Company&#8217;s Current Report on Form 8-K as
      filed with the SEC on February 2, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Articles
      of Incorporation</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 3.1 to the Company&#8217;s Registration Statement on
      Form SB-2 as filed with the SEC on November 21, 2005</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.2</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bylaws</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit B to the Company&#8217;s Information on Form DEF-14C as
      filed with the SEC on December 5, 2006</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.3</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Articles
      of Amendment</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit A to the Company&#8217;s Information on Form DEF-14C as
      filed with the SEC on December 5, 2006</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.4</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certificate
      of Change</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 3.4 to the Company&#8217;s Amended filing of Form S-1 as
      filed with the SEC on January 22, 2010</font> </div>
                  </div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Warrant
      Agreement with Joseph &amp; Gionis LLC</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on April 7, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.2</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amended
      Stock Option Plan Adopted</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 4.5 to the Company&#8217;s Proxy Statement filed as
      Appendix A on DEF 14A filed with the SEC on May 20,
2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.3</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certificate
      of Amendment to Certificate of designation</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.4 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on December 17, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.4</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Certificate
      of designation</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.3 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on December 17, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.5</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Form
      of Underwriter&#8217;s unit purchase option</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 4.5 to the Company&#8217;s Amended filing of Form S-1 as
      filed with the SEC on January 22, 2010</font> </div>
                  </div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.6</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Specimen
      common stock certificate</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 4.6 to the Company&#8217;s Amended filing of Form S-1 as
      filed with the SEC on January 22, 2010</font> </div>
                  </div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.7</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> Revised Warrant Agreement with attached form of
      warrant</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Filed
      herewith</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">5.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Opinion
      of counsel</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"> <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit&#160;5.1 to the Company&#8217;s Amended filing of Form
      S-1 as filed with the SEC on January 22,
  2010</font> </div>
                  </div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Grant Agreement with Gregory Horn</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on February 2, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.2</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Promissory
      Note to Special Nutrition Group, Inc.</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on February 2, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.3</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revised
      and Restated Employment Agreement with Stephen Haley</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on December 17, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.4</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revised
      and Restated Employment Agreement with Jan Norelid</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on December 17, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.5</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employment
      Agreement with Richard McGee, as amended</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.5 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on July 16, 2007</font></div>
                </td>
              </tr></table>
          <div>&#160;</div>
          <div>&#160;</div>
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div id="GLFTR" style="WIDTH: 100%" align="center">
              </div>
            </div>
            <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
              </div>
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                <hr style="COLOR: black" noshade size="2">
              </div>
            </div>
            <div id="HDR">
              <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
            </div>
          </div>
          <div>&#160;</div>
          <div>&#160;</div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.6</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Revised
      and Restated Employment Agreement with Janice Haley</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.3 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on December 17, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.7</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Stock
      Grant Agreement Addendum 1 with Jan Norelid</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s Quarterly Report on Form
      10-QSB as filed with the SEC on May 15, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.8</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Common
      Stock Purchase Agreement with Fusion Capital Fund II, LLC</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on June 25, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.9</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Registration
      Rights Agreement with Fusion Capital Fund II, LLC</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on June 25, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.10</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Promissory
      note issued to CD Financial, LLC dated December 18, 2007 , as
      amended</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.12 to the Company&#8217;s filing of Form 10-KSB as
      filed with the SEC on March 3, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.11</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Secured
      promissory note issued by Golden Gate Investors, Inc. dated December 19,
      2007</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s filing of Form 8-K/A as
      filed with the SEC on January 9, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.12</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Secured
      purchase agreement between Celsius Holdings, Inc. and Golden Gate
      Investors, Inc. dated December 19, 2007</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.3 to the Company&#8217;s filing of Form 8-K/A as
      filed with the SEC on January 9, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.13</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">7
      &#190;% Convertible Debenture issued by Celsius Holdings, Inc. dated December
      19, 2007</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.4 to the Company&#8217;s filing of Form 8-K/A as
      filed with the SEC on January 9, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.14</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Securities
      purchase agreement between Celsius Holdings, Inc. and CDS Ventures of
      South Florida, LLC. dated August 8, 2008</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on August 12, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.15</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Registration
      rights agreement between Celsius Holdings, Inc. and CDS Ventures of South
      Florida, LLC. dated August 8, 2008</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on August 12, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.16</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loan
      and Security Agreement between Celsius, Inc and CD Financial,
      LLC.</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on December 10, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.17</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Securities
      purchase agreement between Celsius Holdings, Inc. and CDS Ventures of
      South Florida, LLC. dated December 12, 2008</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on December 17, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.18</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Registration
      rights agreement between Celsius Holdings, Inc. and CDS Ventures of South
      Florida, LLC. dated December 12, 2008</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on December 17, 2008</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.19</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Employment
      Agreement with Jeffrey Perlman</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on January 7, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.20</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unsecured
      note issued to CD Financial, LLC dated August 12, 2009, refinanced and
      replaced by 10.25</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on August 13, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.21</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note issued to CDS Ventures of South Florida, LLC dated September 8,
      2009</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on September 10, 2009</font></div>
                </td>
              </tr></table>
          <div>&#160;</div>
          <div>&#160;</div>
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div id="GLFTR" style="WIDTH: 100%" align="center">
              </div>
            </div>
            <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
              </div>
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                <hr style="COLOR: black" noshade size="2">
              </div>
            </div>
            <div id="HDR">
              <div id="GLHDR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-STYLE: italic; FONT-FAMILY: Times New Roman"><a href="#table">Table of Contents</a></font></div>
            </div>
          </div>
          <div>&#160;</div>
          <div>&#160;</div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.22</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Loan
      and Security Agreement between Celsius Holdings, Inc and CD Financial, LLC
      dated September 8, 2009.</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on September 10, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.23</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Registration
      rights agreement between Celsius Holdings, Inc. and CDS Ventures of South
      Florida, LLC. dated September 8, 2009</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.3 to the Company&#8217;s filing of Form 8-K as filed
      with the SEC on September 10, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.24</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Unsecured
      note issued to CD Financial, LLC dated September 29, 2009</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.24 to the Company&#8217;s Original filing of Form S-1
      as filed with the SEC on October 12, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.25</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Convertible
      note issued to Lucille Santini</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on November 12, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.26</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Refinance
      Agreement between Celsius Holdings, Inc. and Lucille
    Santini</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.2 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on November 12, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.27</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Addendum
      to Securities Purchase Agreement between Celsius Holdings, Inc. and Golden
      Gate Investors, Inc.</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.3 to the Company&#8217;s Current Report on Form 8-K
      as filed with the SEC on November 12, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.28</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Amendment
      to Registration Rights agreement with CDS Ventures of South Florida,
      LLC</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.28 to the Company&#8217;s Original filing of Form S-1
      as filed with the SEC on November 19, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.29</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Audit
      Committee Charter</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.29 to the Company&#8217;s Original filing of Form S-1
      as filed with the SEC on November 19, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.30</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Compensation
      Committee Charter</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.30 to the Company&#8217;s Original filing of Form S-1
      as filed with the SEC on November 19, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.31</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nominating
      and Corporate Governance Committee Charter</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 10.31 to the Company&#8217;s Original filing of Form S-1
      as filed with the SEC on November 19, 2009</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">14.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Code
      of Ethical Conduct</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 14.1 to the Company&#8217;s Original filing of Form SB-2
      as filed with the SEC on July 20, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consent
      of Sherb &amp; Co.</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Filed
      herewith</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">23.2</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Consent
      of Counsel</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Included
      in Exhibit 5.1</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">24.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Power
      of Attorney</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Included
      on the signature page to this registration statement.</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Results
      from Clinical Studies</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 99.1 to the Company&#8217;s Original filing of Form SB-2
      as filed with the SEC on July 20, 2007</font></div>
                </td>
              </tr><tr>
                <td valign="top" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.2</font></div>
                </td>
                <td align="left" valign="top" width="34%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Abstract
      from Clinical Study released in June 2008</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="56%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Incorporated
      by reference to Exhibit 99.2 to the Company&#8217;s Original filing of Form S-1
      as filed with the SEC on August 29,
2008</font></div>
                </td>
              </tr></table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <hr style="COLOR: black" align="left" noshade size="2" width="100%">
      </div>
    </div>
    <div>&#160;</div>
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>fs1a2ex1i_celsius.htm
<DESCRIPTION>FORM OF UNDERWRITING AGREEMENT
<TEXT>
<html>
<head>
    <title>fs1a2ex1i_celsius.htm</title>
<!-- Licensed to: <TP> Electronic Filing Services Corp.-->
<!-- Document Created using EDGARizerAgent 5.1.5.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 7%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7%; FONT-FAMILY: Times New Roman">
    <div><font style="FONT-WEIGHT: bold">Exhibit 1</font></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">900,000
Units</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CELSIUS
HOLDINGS, INC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="OriginalPosition"><!--EFPlaceholder-->
</a>Each Unit consisting
of</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Four
Shares of Common Stock</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">One
Warrant, each to Purchase One Share of Common Stock</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">UNDERWRITING
AGREEMENT</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;February
__, 2010</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ladenburg
Thalmann &amp; Co. Inc.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
Representative of the</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Several
Underwriters named</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">in
Schedule&#160;I hereto</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ladies
and Gentlemen:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CELSIUS
HOLDINGS, INC, a Nevada corporation (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Company</font>&#8221;), proposes to issue
and sell to the several Underwriters (as defined below) an aggregate of (i)
3,600,000 shares (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Shares</font>&#8221;) of its common stock,
$0.001 par value per share (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Common Stock</font>&#8221;) and (ii)
warrants (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Warrants</font>&#8221;) to purchase up to
an aggregate of 900,000 shares of Common Stock (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Warrant Shares</font>&#8221;) pursuant to
and in accordance with the terms and conditions of this underwriting agreement
(the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Agreement</font>&#8221;).&#160;&#160;The
Shares and Warrants shall be sold in units (each a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Unit</font>&#8221;), each Unit consisting
of four (4) Shares and one (1) Warrant, each to purchase one (1) Warrant Share
at the exercise price per share specified in the Prospectus (as defined
below).&#160;&#160;The Shares and the Warrants shall be issued separately and
shall be transferable separately immediately upon issuance.&#160;&#160;The
Warrants will be issued pursuant to the terms of a Warrant Agreement (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Warrant Agreement</font>&#8221;) to be
entered into by and between the Company and Interwest Transfer Company, Inc., as
warrant agent (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Warrant
Agent</font>&#8221;) in substantially the form attached hereto as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
A</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It is
understood that, subject to the conditions hereinafter stated, an aggregate of
900,000 Units (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Firm
Securities</font>&#8221;) will be sold to the several Underwriters named in
Schedule&#160;I hereto (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Underwriters</font>&#8221;) in connection
with the public offering (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Offering</font>&#8221;) and sale of such
Firm Securities.&#160;&#160;Ladenburg Thalmann &amp; Co. Inc. shall act as the
representative (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Representative</font>&#8221;) of the
several Underwriters.&#160;&#160;In addition, as set forth below, the Company
proposes to issue and sell to the Underwriters, upon the terms and conditions
set forth in Section 3 hereof, an aggregate of up to 135,000 additional Units
(&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Optional
Securities</font>&#8221;).&#160;&#160;The Firm Securities and the Optional Securities,
and the shares of Common Stock and Warrants (and the underlying Warrant Shares)
comprising such Units, are hereinafter called the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Securities</font>.&#8221;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This is
to confirm the agreement concerning the purchase of the Securities from the
Company by the Underwriters.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">1</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Representations and Warranties of the
Company.</font>&#160;&#160;The Company represents and warrants to, and agrees
with, each Underwriter that:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has prepared and filed with the Securities and Exchange Commission (the
&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Commission</font>&#8221;) a
registration statement on Form S-1 (No. 333-163207), which contains a form of
prospectus to be used in connection with the public offering and sale of the
Securities.&#160;&#160;Such registration statement, as amended on Form S-1,
including the financial statements, exhibits and schedules thereto, in the form
in which it was declared effective by the Commission under the Securities Act of
1933, as amended (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Securities Act</font>&#8221;) and the rules
and regulations promulgated thereunder (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Rules and Regulations</font>&#8221;),
including any required information deemed to be a part thereof at the time of
effectiveness pursuant to Rule 430A under the Securities Act, is called the
&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Registration
Statement.</font>&#8221;&#160;&#160;Any registration statement filed by the Company
pursuant to Rule 462(b) under the Securities Act is called the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Rule 462(b) Registration
Statement</font>&#8221;, and from and after the date and time of filing of the Rule
462(b) Registration Statement the term &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Registration Statement</font>&#8221; shall
include the Rule 462(b) Registration Statement.&#160;&#160;Any preliminary
prospectus included in the Registration Statement is hereinafter called a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">preliminary
prospectus</font>.&#8221;&#160;&#160;The term &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Prospectus</font>&#8221; shall mean the
final prospectus relating to the Securities that is first filed pursuant to Rule
424(b) after the date and time that this Agreement is executed and delivered by
the parties hereto (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Execution Time</font>&#8221;) or, if no
filing pursuant to Rule 424(b) is required, shall mean the form of final
prospectus relating to the Securities included in the Registration Statement at
the time it became effective.&#160;&#160;All references in this Agreement to the
Registration Statement, the Rule 462(b) Registration Statement, a preliminary
prospectus, the Prospectus, or any amendments or supplements to any of the
foregoing, shall include any copy thereof filed with the Commission pursuant to
its Electronic Data Gathering, Analysis and Retrieval System (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">EDGAR</font>&#8221;).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Registration Statement and any Rule 462(b) Registration Statement have been
declared effective by the Commission under the Securities Act.&#160;&#160;The
Company has complied, to the Commission&#8217;s satisfaction, with all requests of the
Commission for additional or supplemental information.&#160;&#160;No stop order
suspending the effectiveness of the Registration Statement or any Rule 462(b)
Registration Statement is in effect and no proceedings for such purpose have
been instituted or are pending or, to the best knowledge of the Company, are
contemplated or threatened by the Commission.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The final
preliminary prospectus included in the Disclosure Package (as defined below) and
the Prospectus when filed complied in all material respects with the Securities
Act and the rules thereunder and, if filed by electronic transmission pursuant
to EDGAR (except as may be permitted by Regulation S-T under the Securities
Act), was identical to the copy thereof delivered to the Underwriters for use in
connection with the offer and sale of the Securities.&#160;&#160;Each of the
Registration Statement, any Rule 462(b) Registration Statement and any
post-effective amendment thereto, at the time it became effective and at the
date hereof, and each Closing Date, complied and will comply in all material
respects with the Securities Act and did not and will not contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not
misleading.&#160;&#160;The Prospectus (including any Prospectus wrapper), as
amended or supplemented, as of its date and at the date hereof, the Closing Date
and any Option Closing Date, did not and will not contain any untrue statement
of a material fact or omit to state a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were
made, not misleading.&#160;&#160;The representations and warranties set forth in
the two immediately preceding sentences do not apply to statements in or
omissions from the Registration Statement, any Rule 462(b) Registration
Statement, or any post-effective amendment </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">2</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">thereto,
or the Prospectus, or any amendments or supplements thereto, made in reliance
upon and in conformity with information relating to any Underwriter furnished to
the Company in writing by the Representative expressly for use therein, it being
understood and agreed that the only such information furnished by the
Representative consists of the information described as such in Section 12
hereof.&#160;&#160;There are no contracts or other documents required to be
described in the Prospectus or to be filed as exhibits to the Registration
Statement which have not been described or filed as required.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The term
&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Disclosure Package</font>&#8221;
shall mean, collectively, (i) the preliminary prospectus that is included in the
Registration Statement immediately prior to the Initial Sale Time (as defined
below), if any, as amended or supplemented, (ii) any issuer free writing
prospectuses as defined in Rule 433 of the Securities Act (each, an &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Issuer Free Writing
Prospectus</font>&#8221;) identified in Schedule III hereto, and (iii) any other free
writing prospectus that the parties hereto shall hereafter expressly agree in
writing to treat as part of the Disclosure Package.&#160;&#160;As of <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;:&#160;&#160;&#160;</font>
PM (Eastern time) on the date of this Agreement (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Initial Sale Time</font>&#8221;), the
Disclosure Package did not contain any untrue statement of a material fact or
omit to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading.&#160;&#160;The preceding sentence does not apply to statements in or
omissions from the Disclosure Package based upon and in conformity with written
information furnished to the Company by the Representative specifically for use
therein, it being understood and agreed that the only such information furnished
by or on behalf of any Underwriter consists of the information described as such
in Section 12 hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
Issuer Free Writing Prospectus, as of its issue date and at all subsequent times
through the completion of the Offering or until any earlier date that the
Company notified or notifies the Representative as described in the next
sentence, did not, does not and will not include any information that
conflicted, conflicts or will conflict with the information contained in the
Registration Statement.&#160;&#160;The foregoing sentence does not apply to
statements in or omissions from any Issuer Free Writing Prospectus based upon
and in conformity with written information furnished to the Company by the
Representative specifically for use therein, it being understood and agreed that
the only such information furnished by any Underwriter consists of the
information described as such in Section 12 hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has delivered to the Representative one complete manually signed copy of
the Registration Statement and of each consent and certificate of experts filed
as a part thereof, and conformed copies of the Registration Statement (without
exhibits) and preliminary prospectuses and the Prospectus, as amended or
supplemented, in such quantities and at such places as the Representative have
reasonably requested for each of the Underwriters.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has not distributed and will not distribute, prior to the later of the
Option Closing Date (as defined in Section 4 below) and the completion of the
Underwriters&#8217; distribution of the Securities (other than the Warrant Shares),
any offering material in connection with the offering and sale of the Securities
other than any preliminary prospectus, the Prospectus, any Issuer Free Writing
Prospectus reviewed and consented to by the Representative or included in
Schedule III hereto or the Registration Statement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sherb
&amp; Co. LLP, whose report appears in the Registration Statement, and included
in the Disclosure Package and the Prospectus, are independent certified public
accountants as required by the Securities Act and the Rules and
Regulations.&#160;&#160;The financial statements and schedules (including the
related notes) included in the Registration Statement, and included in the
</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">3</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disclosure
Package and the Prospectus, present fairly the financial condition, the results
of the operations and changes in financial condition of the entities purported
to be shown thereby at the dates or for the periods indicated and have been
prepared in accordance with generally accepted accounting principles applied on
a consistent basis throughout the periods indicated.&#160;&#160;All adjustments
necessary for a fair presentation of results for such periods have been
made.&#160;&#160;The selected financial, operating and statistical data set
forth in any preliminary prospectus included in the Disclosure Package and the
Prospectus under the captions &#8220;Prospectus Summary,&#8221; &#8220;Selected Consolidated
Financial Data&#8221; and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition
and Results of Operations&#8221; fairly present, when read in conjunction with the
Company&#8217;s financial statements and the related notes and schedules and on the
basis stated in the Registration Statement, the information set forth
therein.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each of
the Company and its subsidiaries (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Subsidiaries</font>&#8221;) has been duly
organized and is validly existing as a corporation in good standing under the
laws of the jurisdiction of its organization, with full power and authority
(corporate and other) to own or lease its properties and conduct its business as
described in the Disclosure Package and Prospectus, and is duly qualified to do
business and is in good standing as a foreign corporation in each jurisdiction
in which the character of the business conducted by it or the location of the
properties owned or leased by it makes such qualification necessary and, except
where any failure to do so could not reasonably be expected to result in a
material adverse change in the condition (financial or otherwise), business,
prospects, properties or results of operations of the Company and its
Subsidiaries taken as a whole (a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Material Adverse Effect</font>&#8221;);
each of the Company and its Subsidiaries is in possession of and operating in
compliance with all franchises, grants, authorizations, licenses, permits,
easements, consents, certificates and orders required for the conduct of its
business, all of which are valid and in full force and effect, except where
failure to do could not reasonably be expected to have a Material Adverse
Effect; and neither the Company nor any of its Subsidiaries has received any
notice of proceedings relating to the revocation or modification of any such
franchise, grant, authorization, license, permit, easement, consent, certificate
or order which, individually or in the aggregate, if the subject of an
unfavorable decision, could reasonably be expected to result, individually or in
the aggregate, in having a Material Adverse Effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
capitalization of the Company is as set forth under the caption &#8220;Capitalization&#8221;
in the Disclosure Package and Prospectus, and the Common Stock conforms to the
description thereof contained under the caption &#8220;Description of Securities&#8221; in
the Disclosure Package and Prospectus; the outstanding shares of capital stock
have been duly authorized, validly issued, fully paid and nonassessable and have
been issued in compliance with federal and state securities laws.&#160;&#160;The
shares of Common Stock and Warrants comprising the Units (and the shares of
Common Stock underlying such Warrants) have been reserved for issuance by the
Company and when issued in accordance with the terms hereof and the Final
Prospectus shall be validly issued fully paid and, in the case of the shares of
Common Stock, nonassessable.&#160;&#160;There are no preemptive rights or other
rights to subscribe for or to purchase, or any restriction upon the voting or
transfer of, any shares of capital stock pursuant to the Company&#8217;s certificate
of incorporation, by-laws or other governing documents or any agreement or other
instrument to which the Company or any of its Subsidiaries is a party or by
which any of them may be bound other than those described in the Disclosure
Package and the Prospectus.&#160;&#160;None of the outstanding shares of capital
stock were issued in violation of any preemptive rights, rights of first refusal
or other similar rights to subscribe for or purchase securities of the
Company.&#160;&#160;There are no authorized or outstanding options, warrants,
preemptive rights, rights of first refusal or other rights to purchase, or
equity or debt securities convertible into or exchangeable or exercisable for,
any capital stock of the Company other than those described in the </font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Disclosure
Package and the Prospectus.&#160;&#160;The description of the Company&#8217;s stock
option, stock bonus and other stock plans or arrangements, and the options or
other rights granted thereunder, set forth in the Disclosure Package and the
Prospectus accurately and fairly presents the information required to be shown
with respect to such plans, arrangements, options and rights.&#160;&#160;Neither
the filing of the Registration Statement nor the offering or sale of the
Securities as contemplated by this Agreement and the Warrant Agreement gives
rise to any rights, other than those which have been waived or satisfied, for or
relating to the registration of any shares of Common Stock.&#160;&#160;All of
the outstanding shares of capital stock of each Subsidiary of the Company have
been duly authorized and validly issued, are fully paid and nonassessable and
are owned directly or indirectly by the Company, free and clear of any claim,
lien, encumbrance or security interest.&#160;&#160;There are no authorized or
outstanding options, warrants, preemptive rights, rights of first refusal or
other rights to purchase, or equity or debt securities convertible into or
exchangeable or exercisable for, any capital stock of any Subsidiary other than
those described in the Disclosure Package and the Prospectus.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Subsequent
to the respective dates as of which information is given in the Disclosure
Package and the Prospectus, and except as described or contemplated in the
Disclosure Package and Prospectus or otherwise disclosed to the Underwriters in
writing: neither the Company nor any of its Subsidiaries has incurred any
liabilities or obligations, direct or contingent, nor entered into any
transactions not in the ordinary course of business, which in either case are
material to the Company or such Subsidiary, as the case may be; there has not
been any Material Adverse Effect; and there has been no dividend or distribution
of any kind declared, paid or made by the Company on any class of its capital
stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
could reasonably be expected not to have a Material Adverse Effect, neither the
Company nor any of its Subsidiaries is, or with the giving of notice or lapse of
time or both would be, in violation of or in default under, nor will the
execution or delivery hereof or of the Warrant Agreement or consummation of the
transactions contemplated hereby or thereby result in a violation of, or
constitute a default under, the certificate of incorporation, bylaws or other
governing documents of the Company or any of its Subsidiaries, or any agreement,
contract, mortgage, deed of trust, loan agreement, note, lease, indenture or
other instrument, to which the Company or any of its Subsidiaries is a party or
by which any of them is bound, or to which any of their properties is subject,
nor will the performance by the Company of its obligations hereunder violate any
law, rule, administrative regulation or decree of any court, or any governmental
agency or body having jurisdiction over the Company, its Subsidiaries or any of
their properties, or result in the creation or imposition of any lien, charge,
claim or encumbrance upon any property or asset of the Company or any of its
Subsidiaries.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each of
this Agreement and the Warrant Agreement has been duly authorized, executed and
delivered by the Company and constitutes a legal, valid and binding obligation
of the Company and is enforceable against the Company in accordance with its
terms.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(m)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Securities to be purchased by the Underwriters from the Company have been duly
authorized for issuance and sale pursuant to this Agreement and, when issued and
delivered by the Company pursuant to this Agreement, will be validly issued,
fully paid and nonassessable.&#160;&#160;The Warrants conform, or when issued
will conform, to the description thereof in the Prospectus and have been duly
and validly authorized by the Company and upon issuance and delivery will be
valid and binding obligations of the Company, enforceable in accordance with
their terms, except (i) as such enforceability may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the rights and
remedies of creditors generally, (ii) as enforceability of any </font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">indemnification
or contribution provision may be limited under the federal and state securities
laws, and (iii) that the remedy of specific performance and injunctive and other
forms of equitable relief may be subject to the equitable defenses and to the
discretion of the court before which any proceeding therefor may be
brought.&#160;&#160;The Warrant Shares have been duly authorized for issuance
and sale pursuant to the Warrant Agreement and, when issued and delivered by the
Company pursuant to the Warrant Agreement will be validly issued, fully paid and
nonassessable.&#160;&#160;The Company has reserved a sufficient number of its
duly authorized and unissued shares of Common Stock to permit the full exercise
of the Warrants.&#160;&#160;The issuance of the Securities pursuant to this
Agreement and the Warrant Agreement, as applicable, will not be subject to any
preemptive rights, rights of first refusal or other similar rights to subscript
for or purchase securities of the Company.&#160;&#160;There are no restrictions
upon the voting or transfer of the Securities under the Company&#8217;s certificate of
incorporation or by laws or any agreement or other instrument to which the
Company is a party or otherwise filed as an exhibit to the Registration
Statement.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(n)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and its Subsidiaries have good and marketable title in fee simple to all
items of real property owned by them and good and marketable title to all
personal property owned by them, in each case clear of all liens, encumbrances
and defects except such as are described or referred to in the Disclosure
Package and Prospectus or such as do not materially affect the value of such
property and do not interfere with the use made or proposed to be made of such
property by the Company or such Subsidiaries; and any real property and
buildings held under lease by the Company and its Subsidiaries are held by them
under valid, existing and enforceable leases with such exceptions as are not
material and do not interfere with the use made or proposed to be made of such
property and buildings by the Company or such Subsidiaries.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(o)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
fully described in the Disclosure Package and Prospectus, there is no litigation
or governmental proceeding to which the Company or any of its Subsidiaries is a
party or to which any property of the Company or any of its Subsidiaries is
subject or which is pending or, to the knowledge of the Company, threatened
against the Company which individually or in the aggregate could reasonably be
expected to result in any Material Adverse Effect, which would materially and
adversely affect the consummation of this Agreement or the transactions
contemplated hereby or which is required to be disclosed in the Disclosure
Package and Prospectus.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(p)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Neither
the Company nor any Subsidiary is in violation of any law, ordinance,
governmental rule or regulation or court decree to which it may be subject which
violation could reasonably be expected to have a Material Adverse
Effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(q)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has not taken and may not take, directly or indirectly, any action
designed to cause or result in, or which has constituted or which might
reasonably be expected to constitute, the stabilization or manipulation of the
price of the shares of Common Stock to facilitate the sale or resale of the
Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(r)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and its Subsidiaries have filed all necessary federal, state and foreign
income and franchise tax returns, and all such tax returns are complete and
correct in all material respects, and the Company and its Subsidiaries have not
failed to pay any taxes which were payable pursuant to said returns or any
assessments with respect thereto.&#160;&#160;The Company has no knowledge of any
tax deficiency which has been or is likely to be threatened or asserted against
the Company or its Subsidiaries.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(s)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company maintains a system of internal accounting controls sufficient to provide
reasonable assurances that (i) transactions are executed in accordance with
management&#8217;s general or specific authorization; (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with
generally accepted accounting principles in the United States and to maintain
accountability for assets; (iii) access to assets is permitted only in
accordance with management&#8217;s general or specific authorization; and (iv) the
recorded accountability for assets is compared with existing assets at
reasonable intervals and appropriate action is taken with respect to any
differences. Except as disclosed in the Registration Statement, the Disclosure
Package and the Prospectus, since the date of the most recent evaluation of such
system of internal accounting controls, there has been no material change in
internal control over financial reporting, including any corrective actions with
regard to significant deficiencies or material weaknesses.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(t)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and its Subsidiaries maintain insurance of the types and in the amounts
generally deemed adequate for its business, including, but not limited to,
directors&#8217; and officers&#8217; insurance, product liability insurance, and insurance
covering real and personal property owned or leased by the Company and its
Subsidiaries against theft, damage, destruction, acts of vandalism and all other
risks customarily insured against, all of which insurance is in full force and
effect.&#160;&#160;The Company has not been refused any insurance coverage
sought or applied for, and the Company has no reason to believe that it will not
be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers as may be necessary
to continue its business at a cost that could not reasonably be expected to have
a Material Adverse Effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(u)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Neither
the Company nor any of its Subsidiaries nor, to the best of the Company&#8217;s
knowledge, any of its employees or agents has at any time during the last five
years (i)&#160;made any unlawful contribution to any candidate for foreign
office, or failed to disclose fully any contribution in violation of law, or
(ii)&#160;made any payment to any foreign, federal or state governmental officer
or official or other person charged with similar public or quasi-public duties,
other than payments required or permitted by the laws of the United States or
any jurisdiction thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company is not and, after giving effect to the offering and sale of the
Securities and the application of the proceeds thereof as described under the
caption &#8220;Use of Proceeds&#8221; in the Disclosure Package or the Prospectus, will not
be an &#8220;investment company&#8221; as defined in the Investment Company Act of 1940, as
amended.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(w)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
disclosed in the Disclosure Package or the Prospectus, there are no contracts,
agreements or understandings between the Company and any person that would give
rise to a valid claim against the Company or any Underwriter for a brokerage
commission, finder&#8217;s fee or other like payment in connection with the
Offering.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(x)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
disclosed in the Disclosure Package or the Prospectus or otherwise disclosed to
the Underwriters, there are no contracts, agreements or understandings between
the Company and any person granting such person the right to require the Company
to file a registration statement under the Securities Act with respect to any
securities of the Company owned or to be owned by such person or to require the
Company to include such securities in the securities registered pursuant to a
Registration Statement or in any securities being registered pursuant to any
other registration statement filed by the Company under the Securities
Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">7</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(y)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Common Stock and Warrants (and the shares underlying such Warrants) comprising
the Securities and the Common Stock and Warrants (and the shares underlying such
Warrants) reserved for issuance under the Underwriters&#8217; Purchase Option have
been approved for listing on the Nasdaq Capital Market, subject only to official
notice of issuance.&#160;&#160;The Common Stock of the Company and the Warrants
have been registered under Section 12(b) of the Securities Exchange Act of 1934,
as amended (the <font style="DISPLAY: inline; FONT-WEIGHT: bold">&#8220;Exchange
Act&#8221;</font>).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(z)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company is in material compliance with all applicable provision of the
Sarbanes-Oxley Act of 2002 that are currently effective and the rules and
regulations promulgated in connection therewith.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(aa)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No
consent, approval, authorization, or order of, or filing with, any governmental
agency or body or any court is required for the consummation of the transactions
contemplated by this Agreement in connection with the issuance and sale of the
Securities by the Company, except such as have been obtained and made under the
Securities Act and such as may be required by the Financial Industry Regulatory
Authority (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">FINRA</font>&#8221;) or
under state securities laws or the laws of any foreign
jurisdiction.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(bb)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
execution, delivery and performance of this Agreement and the Warrant Agreement,
and the issuance and sale of the Securities will not result in a breach or
violation of any of the terms and provisions of, or constitute a default under,
(i)&#160;any statute, any rule, regulation or order of any governmental agency
or body or any court, domestic or foreign, having jurisdiction over the Company,
except in the case of this clause (i) for such breaches, violations or defaults
which could not, individually or in the aggregate, reasonably expected to have a
Material Adverse Effect or (ii)&#160;any agreement or instrument to which the
Company is a party or by which the Company is bound, except in the case of this
clause (ii) for such breaches, violations or defaults which could not,
individually or in the aggregate, reasonably expected to have a Material Adverse
Effect, or (iii)&#160;the charter or by-laws of the Company, and the Company has
full power and authority to authorize, issue and sell the Securities as
contemplated by this Agreement and the Warrant Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(cc)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company is not presently doing business with the government of Cuba or with any
person or affiliate located in Cuba.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(dd)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No labor
dispute with the employees of the Company or any subsidiary exists or, to the
knowledge of the Company, is imminent that could reasonably be expected to have
a Material Adverse Effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ee)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and its Subsidiaries own or possess the right to use sufficient
trademarks, trade names, patent rights, copyrights, domain names, licenses,
approvals, trade secrets, inventions, technology, know-how and other similar
rights (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Intellectual Property Rights</font>&#8221;)
as are (i)&#160;necessary or material to conduct its business as now conducted
and as described in the Disclosure Package and the Prospectus and as are
(ii)&#160;necessary or material for the commercialization of the products
described in the Disclosure Package and the Prospectus as being under
development.&#160;&#160;Except as set forth in the Disclosure Package and the
Prospectus, (a)&#160;there is no pending or, to the Company&#8217;s knowledge,
threatened action, suit, proceeding, or claim by others challenging the rights
of the Company or any of its Subsidiaries in or to any such Intellectual
Property Rights that, if decided adversely to the Company could, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect, and
the Company is unaware of any facts which would form a reasonable basis for any
such claim; (b)&#160;there is no pending, or to the </font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">8</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Company&#8217;s
knowledge, threatened action, suit, proceeding, or claim by others that the
Company or any of its Subsidiaries infringes, misappropriates, or otherwise
violates any Intellectual Property Rights, of others that, if decided adversely
to the Company could, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect, and the Company is unaware of any facts which
would form a reasonable basis for any such claim; (c)&#160;there is no pending
or, to the Company&#8217;s knowledge, threatened action, suit, proceeding, or claim by
others challenging the validity, scope, or enforceability of any such
Intellectual Property Rights owned by the Company or its Subsidiaries and the
Company is unaware of any facts which would form a reasonable basis for any such
claim; (d)&#160;to the Company&#8217;s knowledge, the operation of the business of the
Company and its Subsidiaries as now conducted, and as described in the
Disclosure Package and the Prospectus, and in connection with the development
and commercialization of the products described in the Disclosure Package and
the Prospectus does not infringe any claim of any patent or published patent
application; (e)&#160;there is no prior art of which the Company is aware that
may render any patent owned or licensed by the Company or its Subsidiaries
invalid or any patent application owned or licensed by the Company unpatentable
which has not been disclosed to the applicable government patent office; and
(f)&#160;the Company&#8217;s granted or issued patents, registered trademarks, and
registered copyrights have been duly maintained and are in full force and in
effect, and none of the patents, trademarks and copyrights have been adjudged
invalid or unenforceable in whole or in part.&#160;&#160;Neither the Company nor
any of its Subsidiaries is a party to or bound by any options, licenses or
agreements with respect to the Intellectual Property Rights of any other person
or entity that are required to be set forth in the Disclosure Package and the
Prospectus and are not described therein in all material
respects.&#160;&#160;None of the technology or intellectual property used by the
Company and its Subsidiaries in its business has been obtained or is being used
by the Company or its Subsidiaries in violation of any contractual obligation
binding on the Company or its Subsidiaries, or, to the Company&#8217;s knowledge, any
of its officers, directors, or employees or otherwise in violation of the rights
of any persons.&#160;&#160;No third party has been granted by the Company or its
Subsidiaries rights to the Intellectual Property Rights of the Company or its
Subsidiaries that, if exercised, could enable such party to develop products
competitive to those of the Company as described in the Disclosure Package and
the Prospectus.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ff)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has duly and properly filed or caused to be filed with the U.S. Patent
and Trademark Office (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">PTO</font>&#8221;) and applicable foreign
and international patent and trademark authorities all patents, trademarks,
copyrights and applications relating to same owned by the Company and its
Subsidiaries (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Company
Patent and Trademark Applications</font>&#8221;).&#160;&#160;To the knowledge of the
Company, the Company has complied with the PTO&#8217;s duty of candor and disclosure
for the Company Patent and Trademark Applications and has made no material
misrepresentation in the Company Patent and Trademark
Applications.&#160;&#160;To the Company&#8217;s knowledge, the Company Patent and
Trademark Applications disclose patentable subject matters.&#160;&#160;The
Company has not been notified of any inventorship challenges nor has any
interference been declared or provoked nor is any material fact known by the
Company that would preclude the issuance of patents with respect to the Company
Patent and Trademark Applications or would render such patents, if issued,
invalid or unenforceable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(gg)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
could reasonably be expected not to have a Material Adverse Effect, neither the
Company or any of its Subsidiaries has breached and is currently in breach of
any provision of any license, contract or other agreement governing the use by
the Company or its Subsidiaries of Intellectual Property Rights owned by third
parties (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Licenses</font>&#8221;) and, except as
described in the Disclosure Package and the Prospectus, no third party has
alleged any such breach and the Company is unaware of any facts that would form
a reasonable basis for such a claim.&#160;&#160;</font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">9</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To the
Company&#8217;s knowledge, no other party to the Licenses has breached or is currently
in breach of any provision of the Licenses.&#160;&#160;Each of the Licenses is
in full force and effect and constitutes a valid and binding agreement between
the parties thereto, enforceable in accordance with its terms, and there has not
occurred any breach or default under any such Licenses or any event that with
the giving of notice or lapse of time would constitute a breach or default
thereunder.&#160;&#160;Except as could not reasonably be expected to have a
Material Adverse Effect, neither the Company nor any of its Subsidiaries has
been and is currently involved in any disputes regarding the
Licenses.&#160;&#160;To the Company&#8217;s knowledge, all patents licensed to the
Company pursuant to the Licenses are valid, enforceable and being duly
maintained.&#160;&#160;To the Company&#8217;s knowledge, all patent applications
licensed to the Company pursuant to the Licenses are being duly
prosecuted.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(hh)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
described in the Registration Statement, the Disclosure Package and the
Prospectus, the Company and its subsidiaries: (A)&#160;are and at all times have
been in compliance in all material aspects with all statutes, rules,
regulations, or guidances applicable to the Company and its subsidiaries and the
ownership, testing, development, manufacture, packaging, processing, use,
distribution, marketing, labeling, promotion, sale, offer for sale, storage,
import, export or disposal of any product manufactured or distributed by the
Company (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Applicable
Laws</font>&#8221;), except as could not, individually or in the aggregate, reasonably
be expected to result in a Material Adverse Change; (B)&#160;have not received
any notice of adverse finding, warning letter, untitled letter or other
correspondence or notice from the U.S. Food and Drug Administration or any other
federal, state or foreign governmental authority having authority over the
Company (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Governmental
Authority</font>&#8221;) alleging or asserting noncompliance with any Applicable Laws
or any licenses, certificates, approvals, clearances, authorizations, permits
and supplements or amendments thereto required by any such Applicable Laws
(&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Authorizations</font>&#8221;);
(C)&#160;possess all material Authorizations and such Authorizations are valid
and in full force and effect and are not in violation of any term of any such
Authorizations; (D)&#160;have not received notice of any claim, action, suit,
proceeding, hearing, enforcement, investigation, arbitration or other action
from any Governmental Authority or third party alleging that any product
operation or activity is in violation of any Applicable Laws or Authorizations
and have no knowledge that any such Governmental Authority or third party is
considering any such claim, litigation, arbitration, action, suit, investigation
or proceeding; (E)&#160;have not received notice that any Governmental Authority
has taken, is taking or intends to take action to limit, suspend, modify or
revoke any Authorizations and the Company has no knowledge that any such
Governmental Authority is considering such action; and (F)&#160;have filed,
obtained, maintained or submitted all material reports, documents, forms,
notices, applications, records, claims, submissions and supplements or
amendments as required by any Applicable Laws or Authorizations and that all
such reports, documents, forms, notices, applications, records, claims,
submissions and supplements or amendments were complete and correct in all
material respects on the date filed (or were corrected or supplemented by a
subsequent submission).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There are
no business relationships or related-party transactions involving the Company or
any Subsidiary or any other person required to be described in the Disclosure
Package and the Prospectus that have not been described as
required.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(jj)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
would not, individually or in the aggregate, result in a Material Adverse Effect
(i)&#160;neither the Company nor any of its Subsidiaries is in violation of any
federal, state, local or foreign law or regulation relating to pollution or
protection of human health or the environment (including, without limitation,
ambient air, surface water, groundwater, land surface or subsurface strata) or
wildlife, including without limitation, laws and regulations relating to
emissions, discharges, releases or threatened releases of chemicals, pollutants,
contaminants, wastes, toxic substances, </font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">10</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">hazardous
substances, petroleum and petroleum products (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Materials of Environmental
Concern</font>&#8221;), or otherwise relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of
Materials of Environmental Concern (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Environmental Laws</font>&#8221;), which
violation includes, but is not limited to, noncompliance with any permits or
other governmental authorizations required for the operation of the business of
the Company under applicable Environmental Laws, or noncompliance with the terms
and conditions thereof, nor has the Company or any of its Subsidiaries received
any written communication, whether from a governmental authority, citizens
group, employee or otherwise, that alleges that the Company or any of its
Subsidiaries is in violation of any Environmental Law; (ii)&#160;there is no
claim, action or cause of action filed with a court or governmental authority,
no investigation with respect to which the Company or any of its Subsidiaries
has received written notice, and no written notice by any person or entity
alleging potential liability for investigatory costs, cleanup costs,
governmental responses costs, natural resources damages, property damages,
personal injuries, attorneys&#8217; fees or penalties arising out of, based on or
resulting from the presence, or release into the environment, of any Material of
Environmental Concern at any location owned, leased or operated by the Company
or any of its Subsidiaries, now or in the past (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Environmental Claims</font>&#8221;),
pending or, to the best of the Company&#8217;s knowledge, threatened against the
Company, any of its Subsidiaries, or any person or entity whose liability for
any Environmental Claim the Company or any of its Subsidiaries has retained or
assumed either contractually or by operation of law; and (iii)&#160;to the
Company&#8217;s knowledge, there are no past or present actions, activities,
circumstances, conditions, events or incidents, including, without limitation,
the release, emission, discharge, presence or disposal of any Material of
Environmental Concern, that reasonably could result in a violation of any
Environmental Law or form the basis of a potential Environmental Claim against
the Company, any of its Subsidiaries, or against any person or entity whose
liability for any Environmental Claim the Company or any of its Subsidiaries has
retained or assumed either contractually or by operation of
law.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(kk)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and its subsidiaries (A)&#160;are in compliance, in all material
respects, with any and all applicable foreign, federal, state and local laws,
rules, regulations, treaties, statutes and codes promulgated by any and all
governmental authorities (including pursuant to the Occupational Health and
Safety Act) relating to the protection of human health and safety in the
workplace (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Occupational
Laws</font>&#8221;); (B)&#160;have received all material permits, licenses or other
approvals required of it under applicable Occupational Laws to conduct their
business as currently conducted; and (C)&#160;are in compliance, in all material
respects, with all terms and conditions of such permit, license or approval. No
action, proceeding, revocation proceeding, writ, injunction or claim is pending
or, to the Company&#8217;s knowledge, threatened against the Company or any of its
subsidiaries relating to Occupational Laws, and the Company does not have
knowledge of any facts, circumstances or developments relating to its operations
or cost accounting practices that could reasonably be expected to form the basis
for or give rise to such actions, suits, investigations or
proceedings.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ll)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and any &#8220;employee benefit plan&#8221; (as defined under the Employee
Retirement Income Security Act of 1974, as amended, and the regulations and
published interpretations thereunder (collectively, &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">ERISA</font>&#8221;)) established or
maintained by the Company, or its &#8220;ERISA Affiliates&#8221; (as defined below) are in
compliance in all material respects with ERISA.&#160;&#160;&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">ERISA Affiliates</font>&#8221; means, with
respect to the Company, any member of any group of organizations described in
Sections&#160;414(b),(c),(m) or (o) of the Internal Revenue Code of 1986, as
amended, and the regulations and published interpretations thereunder (the
&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Code</font>&#8221;) of which the
Company is a member.&#160;&#160;No &#8220;reportable event&#8221; (as defined under ERISA)
has occurred or is reasonably expected to </font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">11</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">occur
with respect to any &#8220;employee benefit plan&#8221; established or maintained by the
Company, or any of its ERISA Affiliates.&#160;&#160;No &#8220;employee benefit plan&#8221;
established or maintained by the Company or any of its ERISA Affiliates, if such
&#8220;employee benefit plan&#8221; were terminated, would have any &#8220;amount of unfunded
benefit liabilities&#8221; (as defined under ERISA).&#160;&#160;Neither the Company,
nor any of its ERISA Affiliates has incurred or reasonably expects to incur any
liability under (i)&#160;Title&#160;IV of ERISA with respect to termination of,
or withdrawal from, any &#8220;employee benefit plan&#8221; or (ii)&#160;Sections&#160;412,
4971, 4975 or 4980B of the Code.&#160;&#160;Each &#8220;employee benefit plan&#8221;
established or maintained by the Company or any of its ERISA Affiliates that is
intended to be qualified under Section&#160;401(a) of the Code is so qualified
and nothing has occurred, whether by action or failure to act, which would cause
the loss of such qualification.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(mm)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There are
no outstanding loans, advances (except normal advances for business expenses in
the ordinary course of business) or guarantees or indebtedness by the Company to
or for the benefit of any of the officers or directors of the Company or any of
the members of any of them, except as disclosed in the Disclosure Package and
the Prospectus.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(nn)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
market data and industry forecasts included in the Registration Statement and
the Disclosure Package and the Prospectus were obtained or derived from industry
publications that are and were not at any time under the Company&#8217;s control which
the Company reasonably and in good faith believes are reliable and accurate, and
such data agree with the sources from which they are derived.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(oo)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except as
disclosed in the Disclosure Package or the Prospectus, since the date of the
latest audited financial statements included in the Disclosure Package or the
Prospectus there has been no Material Adverse Effect, nor any development or
event involving a prospective Material Adverse Effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
certificate signed by an officer of the Company and delivered to the
Representative or to counsel for the Underwriters shall be deemed to be a
representation and warranty by the Company to each Underwriter as to the matters
set forth therein.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 35pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company acknowledges that the Underwriters and, for purposes of the opinions to
be delivered pursuant to Section&#160;6 hereof, counsels to the Company and
counsel to the Underwriters, will rely upon the accuracy and truthfulness of the
foregoing representations and hereby consents to such reliance.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Representations and Warranties of the
Underwriters</font>. Each Underwriter severally represents and agrees
that:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It has
not and will not use, authorize use of, refer to, or participate in the planning
for use of, any &#8220;free writing prospectus&#8221;, as defined in Rule 405 under the
Securities Act (which term includes use of any written information furnished to
the Commission by the Company and not incorporated by reference into the
Registration Statement and any press release issued by the Company) other than
(i) any Issuer Free Writing Prospectus, or (ii) any other free writing
prospectus that the parties hereto shall hereafter expressly agree in writing to
treat as part of the Disclosure Package.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It will
retain copies of each free writing prospectus used or referred to by it to the
extent required by Rule 433 under the Securities Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">12</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Purchase
of the Securities by the Underwriters.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Subject
to the terms and conditions and upon the basis of the representations,
warranties and agreements herein set forth, the Company agrees to issue and sell
to the Underwriters, and each of the Underwriters agrees, severally and not
jointly, to purchase at a price of $________ per Unit (giving effect to a 7%
discount), the number of Firm Securities set forth opposite such Underwriter&#8217;s
name in Schedule&#160;I hereto, subject to adjustment in accordance with
Section&#160;8 hereof.&#160;&#160;The Underwriters agree to offer the Firm
Securities to the public as set forth in the Prospectus.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company hereby grants to the Representative and its designees an option to
purchase from the Company, solely for the purpose of covering over-allotments in
connection with the distribution and sale of the Firm Securities, all or any
portion of the Optional Securities for a period of forty-five (45) days from the
date hereof at the purchase price per Share set forth above.&#160;&#160;Optional
Securities shall be purchased from the Company, severally and not jointly, for
the accounts of the several Underwriters in proportion to the number of Firm
Securities set forth opposite such Underwriter&#8217;s name in Schedule I hereto,
except that the respective purchase obligations of each Underwriter shall be
adjusted by the Representative so that no Underwriter shall be obligated to
purchase fractional Optional Securities.&#160;&#160;No Optional Securities shall
be sold and delivered unless the Firm Securities previously have been, or
simultaneously are, sold and delivered.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company hereby grants and issues to the Underwriters in the quantities set forth
next to their respective names on <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule 3(c)</font> hereto
purchase options (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Underwriters&#8217; Purchase
Options</font>&#8221;) to purchase an aggregate of 18,000 Units for $____ per Unit
<font style="DISPLAY: inline; FONT-WEIGHT: bold">[equal to per-Unit Offering
price]</font>, subject to certain anti-dilution adjustments.&#160;&#160;The
Underwriters&#8217; Purchase Options are evidenced by the form of purchase option
attached hereto as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
B</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Delivery of and Payment for
Securities.&#160;&#160;</font>Delivery of certificates for the Firm Securities
to be purchased by the Underwriters from the Company against payments for such
securities shall be made at the offices of the Representative (or such other
place as mutually may be agreed upon), on the third full Business Day following
the date hereof or, if the pricing of the Firm Securities occurs after
4:30&#160;p.m., New York City time, on the fourth full Business Day thereafter,
or at such other date as shall be determined by the Representative and the
Company (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">First Closing
Date</font>&#8221;).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
option to purchase Optional Securities granted in Section&#160;3 hereof may be
exercised during the term thereof by written notice to the Company from the
Representative.&#160;&#160;The option may be exercised in whole or part, and if
in part, the option can be exercised on multiple occasions.&#160;&#160;Such
notice shall set forth the aggregate number of Optional Securities as to which
the option is being exercised and the time and date, not earlier than either the
First Closing Date or the second Business Day after the date on which the option
shall have been exercised nor later than the fifth Business Day after the date
of such exercise, as determined by the Representative, when the Optional
Securities are to be delivered (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Option Closing
Date</font>&#8221;).&#160;&#160;Delivery and payment for such Optional Securities is
to be at the offices set forth above for delivery and payment of the Firm
Securities.&#160;&#160;(The First Closing Date and the Option Closing Date are
herein individually referred to as the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Closing Date</font>&#8221; and collectively
referred to as the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Closing
Dates</font>&#8221;.)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delivery
of certificates for the Firm Securities and the Optional Securities shall be
made by or on behalf of the Company to the Representative, for the respective
accounts of the Underwriters, against payment by the Representative, for the
several accounts of the Underwriters, of the purchase price therefor by
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">13</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)&#160;Federal
funds wire transfer or (ii)&#160;certified or official bank check payable in
next day funds to the order of the Company.&#160;&#160;The certificates for the
Firm Securities and the Optional Securities shall be registered in such names
and denominations as the Representative shall have requested at least two full
Business Days prior to the applicable Closing Date, and shall be made available
for checking and packaging at a location in New York, New York as may be
designated by the Representative at least one full Business Day prior to such
Closing Date.&#160;&#160;Time shall be of the essence and delivery at the time
and place specified in this Agreement is a further condition to the obligations
of each Underwriter.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Covenants.</font>&#160;&#160;The
Company covenants and agrees with each Underwriter that:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
such period beginning on the Initial Sale Time and ending on the later of the
Closing Date or such date, as in the opinion of counsel for the Underwriters,
the Prospectus is no longer required by law to be delivered in connection with
sales as contemplated by this Agreement by an Underwriter or dealer, including
in circumstances where such requirement may be satisfied pursuant to Rule 172
(the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Prospectus Delivery
Period</font>&#8221;), prior to amending or supplementing the Registration Statement
(including any registration statement filed under Rule 462(b) under the
Securities Act), the Disclosure Package or the Prospectus, the Company shall
furnish to the Representative for review a copy of each such proposed amendment
or supplement, and the Company shall not file any such proposed amendment or
supplement to which the Representative reasonably object.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">After the
date of this Agreement, the Company shall promptly advise the Representative in
writing (i) when the Registration Statement, if not effective at the Execution
Time, shall have become effective, (ii) of the receipt of any comments of, or
requests for additional or supplemental information from, the Commission, (iii)
of the time and date of any filing of any post-effective amendment to the
Registration Statement or any amendment or supplement to any preliminary
prospectus or the Prospectus, (iv) of the time and date that any post-effective
amendment to the Registration Statement becomes effective and (v) of the
issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement or any post-effective amendment thereto or of any order
or notice preventing or suspending the use of the Registration Statement, any
preliminary prospectus or the Prospectus, or of any proceedings to remove,
suspend or terminate from listing or quotation the Common Stock or Warrants from
any securities exchange upon which it is listed (or approved for listing) for
trading or included or designated (or approved for inclusion or designation) for
quotation, or of the threatening or initiation of any proceedings for any of
such purposes.&#160;&#160;The Company shall use its best efforts to prevent the
issuance of any such stop order or prevention or suspension of such
use.&#160;&#160;If the Commission shall enter any such stop order or order or
notice of prevention or suspension at any time, the Company will use its best
efforts to obtain the lifting of such order at the earliest possible moment, or
will file a new registration statement and use its best efforts to have such new
registration statement declared effective as soon as
practicable.&#160;&#160;Additionally, the Company agrees that it shall comply
with the provisions of Rules 424(b) and 434, as applicable, under the Securities
Act, including with respect to the timely filing of documents thereunder, and
will use its reasonable efforts to confirm that any filings made by the Company
under such Rule 424(b) were received in a timely manner by the
Commission.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i) If
the preliminary prospectus included in the Disclosure Package is being used to
solicit offers to buy the Securities and any event or development shall occur or
condition exist as a result of which it is necessary to amend or supplement the
Disclosure Package in order to make the statements therein, in the light of the
circumstances under which they were made or then prevailing, as the case may be,
not misleading (in which case the Company agrees to </font></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">14</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">notify
the Representative of any such event or condition), or if in the reasonable
opinion of the Representative it is otherwise necessary to amend or supplement
the Disclosure Package to comply with law, the Company agrees to promptly
prepare, file with the Commission and furnish to the Underwriters and to
dealers, at its own expense, amendments or supplements to the Disclosure Package
so that the statements in the Disclosure Package as so amended or supplemented
will not be, in the light of the circumstances under which they were made or
then prevailing, as the case may be, misleading or so that the Disclosure
Package, as amended or supplemented, will comply with law; (ii) if, during the
Prospectus Delivery Period, any event or development shall occur or condition
exist as a result of which it is necessary to amend or supplement the
Registration Statement or the Prospectus in order to make the statements
therein, in the light of the circumstances under which they were made or then
prevailing, as the case may be, not misleading (in which case the Company agrees
to notify the Representative of any such event or condition), or if in the
reasonable opinion of the Representative it is otherwise necessary to amend or
supplement the Registration Statement or the Prospectus to comply with law,
including in connection with the delivery of the Prospectus, the Company agrees
to promptly prepare, file with the Commission (and use its best efforts to have
any amendment to the Registration Statement or any new registration statement to
be declared effective) and furnish to the Underwriters and to dealers,
amendments or supplements to the Registration Statement or the Prospectus, or
any new registration statement so that the statements in the Registration
Statement or the Prospectus as so amended or supplemented will not be, in the
light of the circumstances under which they were made or then prevailing, as the
case may be, misleading or so that the Registration Statement or the Prospectus,
as amended or supplemented, will comply with law.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company agrees that, unless it obtains the prior written consent of the
Representative, it will not make any offer relating to the Common Stock that
would constitute an Issuer Free Writing Prospectus or that would otherwise
constitute a &#8220;free writing prospectus&#8221; (as defined in Rule 405 of the Securities
Act) required to be filed by the Company with the Commission or retained by the
Company under Rule 433 of the Securities Act; provided that the prior written
consent of the Representative hereto shall be deemed to have been given in
respect of the Free Writing Prospectuses included in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule III</font>
hereto.&#160;&#160;Any such free writing prospectus consented to by the
Representative is hereinafter referred to as a &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Permitted Free Writing
Prospectus</font>&#8221;.&#160;&#160;The Company agrees that (i) it has treated and
will treat, as the case may be, each Permitted Free Writing Prospectus as an
Issuer Free Writing Prospectus, and (ii) has complied and will comply, as the
case may be, with the requirements of Rules 164 and 433 of the Securities Act
applicable to any Permitted Free Writing Prospectus, including in respect of
timely filing with the Commission, legending and record keeping.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company shall furnish to the Underwriters, from time to time and without charge,
copies of the Registration Statement of which three shall be signed and shall
include exhibits and all amendments and supplements to any of such Registration
Statement, in each case as soon as available and in such quantities as the
Representative may from time to time reasonably request.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company shall take or cause to be taken all necessary action and furnish to
whomever the Representative may direct such information as may be required in
qualifying the Securities for sale under the laws of such jurisdictions which
the Representative shall designate and to continue such qualifications in effect
for as long as may be necessary for the distribution of the Securities; except
that in no event shall the Company be obligated in connection therewith to
qualify as a foreign corporation, or to execute a general consent for service of
process.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">15</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company shall make generally available to its securityholders, in the manner
contemplated by Rule&#160;158(b) under the Securities Act, as soon as
practicable but in any event not later than 60 days after the end of its fiscal
quarter in which the first anniversary date of the effective date of the
Registration Statement occurs, an earning statement which will comply with
Section&#160;11(a) of the Securities Act covering a period of at least 12
consecutive months beginning after the effective date of the Registration
Statement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Except
for the issuance of options to directors, officers, employees and consultants in
the ordinary course under plans approved by the board of directors and disclosed
in the Final Prospectus (and the issuance of stock upon the exercise thereof),
the Company will not, without the prior written consent of the Representative
(which consent may be withheld in the Representative&#8217;s sole discretion),
directly or indirectly, issue, sell, offer, agree to sell, contract or grant any
option to sell (including, without limitation, pursuant to any short sale),
pledge, make any short sale of, maintain any short position with respect to,
transfer, establish or maintain an open &#8220;put equivalent position&#8221; within the
meaning of Rule 16a-1(h) under the Exchange Act, enter into any swap, derivative
transaction or other arrangement (whether such transaction is to be settled by
delivery of common stock, other securities, cash or other consideration) that
transfers to another, in whole or in part, any of the economic consequences of
ownership, or otherwise dispose of any shares of Common Stock, options or
warrants to acquire shares of Common Stock, or securities exchangeable or
exercisable for or convertible into shares of Common Stock, or publicly announce
an intention to do any of the foregoing, for a period commencing on the date
hereof and continuing through the close of trading on the date 90 days after the
date of the Prospectus (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Lock-Up Period</font>&#8221;).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
the foregoing, for the purpose of allowing the Underwriters to comply with FINRA
Rule 2711(f)(4), if (1) during the last 17 days of the initial Lock-Up Period,
the Company releases earnings results or material news or a material event
relating to us occurs or (2) prior to the expiration of the initial Lock-Up
Period, the Company announces that it will release earnings results during the
16-day period beginning on the last day of the initial Lock-Up Period, then in
each case the Lock-Up Period will be extended until the expiration of the 18-day
period beginning on the date of release of the earnings results or material
news, as applicable, unless the Representative waives, in writing, such
extension.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company shall cause each officer and director of the Company and CDS Ventures of
South Florida, LLC or any securities convertible into, or exercisable or
exchangeable for, shares of Common Stock, of which such officers, directors and
shareholders shall constitute holders on an aggregate and fully diluted basis,
to furnish to the Representative, on or prior to the date of this Agreement, a
letter or letters, in form and substance satisfactory to counsel for the
Underwriters, pursuant to which each such person shall agree not to offer for
sale, contract to sell, sell, distribute, grant any option, right or warrant to
purchase, pledge, hypothecate or otherwise dispose of, directly or indirectly,
any shares of Common Stock or any securities convertible into, or exercisable or
exchangeable for, shares of Common Stock during the 180 days (subject to an
additional extension to accommodate for earnings or material news releases)
following the effective date of the Registration Statement, except with the
Representative&#8217;s prior written consent.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company shall maintain, at its expense, a registrar and transfer agent for the
Common Stock and for the Warrants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">16</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company shall apply the net proceeds of the sale of the Securities substantially
in the manner specified in the Prospectus under the heading &#8220;Use of Proceeds&#8221;
and shall file such reports with the Commission with respect to the sale of the
Securities and the application of the proceeds therefrom as may be required in
accordance with Rule 463 under the Securities Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company will furnish to its securityholders annual reports containing financial
statements audited by independent public accountants and quarterly reports
containing financial statements and financial information which may be
unaudited.&#160;&#160;During the period of two years from the date hereof, the
Company will deliver to the Representative and, upon request, to each of the
other Underwriters, copies of each annual report of the Company and each other
report furnished by the Company to its securityholders and will deliver to the
Representative, as soon as they are available, copies of any other reports
(financial or otherwise) which the Company shall publish or otherwise make
available to any of its securityholders as such, and as soon as they are
available, copies of any reports and financial statements furnished to or filed
with the Commission or FINRA.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(m)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company will use its best efforts to maintain the listing of its Common Stock
and Warrants on the Nasdaq Capital Market.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(n)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Whether
or not this Agreement is terminated or the sale of the Securities to the
Underwriters is consummated, the Company shall pay or cause to be paid
(A)&#160;all expenses (including stock transfer taxes) incurred in connection
with the delivery to the several Underwriters of the Securities, (B)&#160;all
fees and expenses (including, without limitation, fees and expenses of the
Company&#8217;s accountants and counsel) in connection with the preparation, printing,
filing, delivery and shipping of the Registration Statement (including the
financial statements therein and all amendments and exhibits thereto), each
preliminary prospectus, the Disclosure Package and the Prospectus as amended or
supplemented and the printing, delivery and shipping of this Agreement, the
Warrant Agreement and other underwriting documents, including Underwriters&#8217;
Questionnaires, Underwriters&#8217; Powers of Attorney, Blue Sky Memoranda, the
Agreement Among Underwriters and Selected Dealer Agreements, (C)&#160;if
necessary, all filing fees and reasonable fees and disbursements of counsel to
the Underwriters incurred in connection with the qualification of the Securities
for sale under state securities laws as provided in Section&#160;5(f) hereof,
(D)&#160;the filing fee of FINRA and any applicable fees and expenses of counsel
for the Underwriters in connection with a review of the offering by FINRA,
(E)&#160;any applicable listing fees, (F)&#160;the cost of printing certificates
representing the Securities, (G)&#160;the cost and charges of any transfer agent
or registrar, and (H)&#160;all other costs and expenses incident to the
performance of its obligations hereunder which are not otherwise provided for in
this Section.&#160;&#160;If the sale of the Securities provided for herein is
consummated, or if it is not consummated by reason of acts of the Company which
prevent this Agreement from becoming effective, or by reason of any failure,
refusal or inability on the part of the Company to perform any agreement on its
part to be performed or because any other condition of the Underwriters&#8217;
obligations hereunder is not fulfilled, unless the failure to perform the
agreement or fulfill the condition is due to the default or omission of any
Underwriter, the Company shall reimburse the several Underwriters for all
reasonable out-of-pocket disbursements (including fees and disbursements of
counsel) incurred by the Underwriters in connection with their investigation,
preparing to market and marketing the Securities or in contemplation of
performing their obligations hereunder.&#160;&#160;The Company shall not in any
event be liable to any of the Underwriters for loss of anticipated profits from
the transactions covered by this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">17</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Conditions of Underwriters&#8217;
Obligations.</font>&#160;&#160;The respective obligations of the several
Underwriters hereunder are subject to the accuracy, at and as of the date hereof
and the First Closing Date (as if made at the First Closing Date) and, with
respect to the Optional Securities, the Option Closing Date (as if made at the
Option Closing Date), of the representations and warranties of the Company
contained herein, to the performance by the Company of its obligations hereunder
and to the following additional conditions:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Registration Statement shall have become effective not later than 4 p.m.,
Eastern time, on the date of this Agreement, or such later time and date as the
Representative shall approve and all filings required by Rules 424, 430A and 433
under the Securities Act shall have been timely made; no stop order suspending
the effectiveness of the Registration Statement or any amendment thereof shall
have been issued; no proceedings for the issuance of such an order shall have
been initiated or threatened; and any request of the Commission for additional
information (to be included in the Registration Statement, the Disclosure
Package, the Prospectus, any Issuer Free Writing Prospectus or otherwise) shall
have been complied with to the Representative&#8217;s satisfaction.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No
Underwriter shall have advised the Company that the Registration Statement, the
Disclosure Package or the Prospectus, or any amendment thereof or supplement
thereto, contains an untrue statement of fact which, in the Representative&#8217;s
opinion, is material, or omits to state a fact which, in the Representatives
opinion, is material and is required to be stated therein or is necessary to
make the statements therein, in the light of the circumstances under which they
were made, not misleading.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On each
Closing Date, the Representative shall have received the favorable opinion of
Arnstein &amp; Lehr LLP, counsel for the Company, dated as of such Closing Date,
the form of which is attached as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit&#160;C</font>.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On each
Closing Date the Representative shall have received the favorable opinion of
Graubard Miller, counsel for the Underwriters, dated as of such Closing Date, in
form and substance satisfactory to the Representative.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
shall have been furnished to the Representative a certificate of the Company,
dated as of each Closing Date and addressed to the Representative, signed by the
Chief Executive Officer and by the Chief Financial Officer of the Company to the
effect that:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 110pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
representations and warranties of the Company in this Agreement are true and
correct, as if made at and as of such Closing Date, and the Company has complied
with all the agreements and satisfied all the conditions on its part to be
performed or satisfied at or prior to such Closing Date;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 110pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No stop
order suspending the effectiveness of the Registration Statement has been
issued, and no proceedings for that purpose have been initiated or are pending
or, to their knowledge, contemplated;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 110pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any and
all filings required by Rules 424, 430A, 430B and 430C under the Securities Act
have been timely made;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">18</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 110pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
signers of said certificate have carefully examined the Registration Statement
and the Disclosure Package and the Prospectus, and any amendments or supplements
thereto, and such documents contain all statements and information required to
be included therein; the Registration Statement or any amendment thereto does
not include any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein not misleading; and the Disclosure Package and the Prospectus or any
supplements thereto do not include any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they
were made, not misleading;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 110pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Since the
effective date of the Registration Statement, there has occurred no event
required to be set forth in an amendment or supplement to the Registration
Statement or the Disclosure Package and the Prospectus which has not been so set
forth; and</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 110pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(vi)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Since the
effective date of the Registration Statement, neither the Company nor any of its
Subsidiaries shall have sustained any loss by strike, fire, flood, accident or
other calamity (whether or not insured), or shall have become a party to or the
subject of any litigation, which is material to the Company or its Subsidiaries
taken as a whole, nor shall there have been a material adverse change in the
general affairs, business, key personnel, capitalization, financial position,
earnings or net worth of the Company and its Subsidiaries, whether or not
arising in the ordinary course of business, which loss, litigation or change, in
the Representative&#8217;s judgment, shall render it inadvisable to proceed with the
delivery of the Securities.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On the
date hereof, and on each Closing Date, the Representative shall have received
from Sherb &amp; Co. LLP, independent public or certified public accountants for
the Company, a letter dated the date hereof addressed to the Representative, on
behalf of the several Underwriters, in form and substance satisfactory to the
Representative, containing statements and information of the type ordinarily
included in accountant&#8217;s &#8220;comfort letters&#8221; to underwriters, delivered according
to Statement of Auditing Standards No. 72 (or any successor bulletin), with
respect to the audited and unaudited financial statements and certain financial
information contained in the Registration Statement and the Prospectus (and the
Representative shall have received an additional five conformed copies of such
accountants&#8217; letter for each of the several Underwriters).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
&#8220;lock-up&#8221; agreements between the Representatives and the stockholders, officers
and directors of the Company listed on <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule II</font>,
delivered to the Representative on or before the date hereof, shall be in full
force and effect on each Closing Date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On or
before each Closing Date, the Representative and counsel for the Underwriters
shall have received such information, certificates, agreements, opinions and
other documents as they may reasonably require.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On or
before the First Closing Date, the Common Stock and Warrants shall have been
approved for listing on the Nasdaq Capital Market.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On or
before the First Closing Date, the Company and the Warrant Agent shall have
executed and delivered counterparts of the Warrant Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All such
opinions, certificates, letters and documents shall be in compliance with the
provisions hereof only if they are satisfactory in form and substance to the
Representative and to counsel for the Underwriters.&#160;&#160;The Company shall
furnish the Representative with such conformed copies of such opinions,
certificates, letters and other documents as the Representative shall reasonably
request.&#160;&#160;If any of the conditions specified in this Section&#160;6
shall not </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">19</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">have been
fulfilled when and as required by this Agreement, this Agreement and all
obligations of the Underwriters hereunder may be canceled at, or at any time
prior to, the First Closing Date or the Option Closing Date, as the case may be,
by the Representative.&#160;&#160;Any such cancellation shall be without
liability of the Underwriters to the Company.&#160;&#160;Notice of such
cancellation shall be given to the Company in writing, or by telegraph or
telephone and confirmed in writing.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indemnification
and Contribution.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 5pt; TEXT-INDENT: 70pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company agrees to indemnify, defend and hold harmless each Underwriter and any
person who controls any Underwriter within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act, and the respective directors,
officers, employees and agents of each Underwriter from and against any loss,
expense, liability, damage or claim (including the reasonable cost of
investigation) which, jointly or severally, any such Underwriter or controlling
person may incur under the Securities Act, the Exchange Act or otherwise,
insofar as such loss, expense, liability, damage or claim arises out of or is
based upon (A) any breach of any representation, warranty or covenant of the
Company contained herein, (B)&#160; any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement (or any
amendment thereof), the Disclosure Package, any Issuer Free Writing Prospectus
or the Prospectus (the term Prospectus for the purpose of this Section being
deemed to include the preliminary prospectus included in the Registration
Statement at the time it became effective, the Prospectus and the Prospectus as
amended or supplemented by the Company), (C) any application or other document,
or any amendment or supplement thereto, executed by the Company or based upon
written information furnished by or on behalf of the Company filed in any
jurisdiction (domestic or foreign) in order to qualify the Common Stock under
the securities or blue sky laws thereof or filed with the Commission or any
securities association or securities exchange (each an &#8220;Application&#8221;), (D) any
omission or alleged omission to state a material fact required to be stated in
any such Registration Statement, or necessary to make the statements made
therein not misleading, (E) any omission or alleged omission from the Disclosure
Package , any Issuer Free Writing Prospectus, Prospectus or any Application of a
material fact necessary to make the statements made therein, in the light of the
circumstances under which they were made, not misleading; except in the case of
(B), (D) and (E) above only insofar as any such loss, expense, liability, damage
or claim arises out of or is based upon any untrue statement or alleged untrue
statement or omission or alleged omission of a material fact contained in and in
conformity with information furnished in writing by the Underwriters through the
Representative to the Company expressly for use in such Registration Statement,
Disclosure Package, Issuer Free Writing Prospectus, Prospectus or
Application.&#160; The indemnity agreement set forth in this Section 7(a) shall
be in addition to any liability which the Company may otherwise
have.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 5pt; TEXT-INDENT: 70pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
Underwriter agrees, severally and not jointly, to indemnify, defend and hold
harmless the Company, the Company&#8217;s directors, the Company&#8217;s officers that
signed the Registration Statement, and any person who controls the Company
within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act, from and against any loss, expense, liability, damage or claim
(including the reasonable cost of investigation) which the Company or any such
person may incur under the Securities Act, the Exchange Act or otherwise,
insofar as such loss, expense, liability, damage or claim arises out of or is
based upon (A) any breach of any representation, warranty or covenant of the
Underwriters contained herein, (B) any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement (or any
amendment thereof), the Disclosure Package, any Issuer Free Writing
</font></div>
      <div style="MARGIN-LEFT: 5pt; TEXT-INDENT: 70pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">20</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prospectus,
the Prospectus, or any Application, (C) any omission or alleged omission to
state a material fact required to be stated in any such Registration Statement,
or necessary to make the statements made therein not misleading, or (D) any
omission or alleged omission from the Disclosure Package, any such Issuer Free
Writing Prospectus, Prospectus or any Application of a material fact necessary
to make the statements made therein, in the light of the circumstances under
which they were made, not misleading, but in each case only insofar as such
untrue statement or alleged untrue statement or omission or alleged omission was
made in such Registration Statement, Disclosure Package, Issuer Free Writing
Prospectus,&#160; Prospectus or Application in reliance upon and in conformity
with information furnished in writing by the Underwriters through the
Representative to the Company expressly for use therein; and to reimburse the
Company, or any such director, officer, employee or controlling person for any
legal and other expense reasonably incurred by the Company, or any such
director, officer, employee or controlling person in connection with
investigating, defending, settling, compromising or paying any such loss, claim,
damage, liability, expense or action.&#160;&#160;The indemnity agreement set
forth in this Section 7(b) shall be in addition to any liabilities that each
Underwriter may otherwise have.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Promptly
after receipt by an indemnified party under subsection (a) or (b) above of
notice of any claim or the commencement of any action, the indemnified party
shall, if a claim in respect thereof is to be made against the indemnifying
party under such subsection, notify the indemnifying party in writing of the
claim or the commencement of that action; the failure to notify the indemnifying
party shall not relieve it from any liability which it may have to an
indemnified party otherwise than under such subsection.&#160;&#160;If any such
claim or action shall be brought against an indemnified party, and it shall
notify the indemnifying party thereof, the indemnifying party shall be entitled
to participate therein and, to the extent that it wishes, jointly with any other
similarly notified indemnifying party, to assume the defense thereof with
counsel reasonably satisfactory to the indemnified party.&#160;&#160;After
notice from the indemnifying party to the indemnified party of its election to
assume the defense of such claim or action, the indemnifying party shall not be
liable to the indemnified party under such subsection for any legal or other
expenses subsequently incurred by the indemnified party in connection with the
defense thereof other than reasonable costs of investigation; except that the
Representative shall have the right to employ counsel to represent it and those
other Underwriters who may be subject to liability arising out of any claim in
respect of which indemnity may be sought by the Underwriters against the Company
under such subsection if, in the Representative&#8217;s reasonable judgment, based
upon the advice of counsel, it is advisable for the Representative and those
Underwriters to be represented by separate counsel, and in that event the fees
and expenses of such separate counsel shall be paid by the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 5pt; TEXT-INDENT: 70pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If the
indemnification provided for in this Section 7 is unavailable or insufficient to
hold harmless an indemnified party under subsections (a) and (b) of this Section
7 in respect of any losses, expenses, liabilities, damages or claims referred to
therein, then each applicable indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, expenses, liabilities, damages or
claims (i) in such proportion as is appropriate to reflect the relative benefits
received by the Company and the Underwriters from the offering of the Securities
or (ii) if (but only if) the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) above but also the relative
fault of the Company and of the Underwriters in connection with the statements
or omissions which resulted in such losses, expenses, liabilities, damages or
claims, as well as any other relevant equitable considerations.&#160; The
relative benefits received by the Company and the Underwriters shall be deemed
to be in the same proportion as the total proceeds from the offering (net of
underwriting </font></div>
      <div style="MARGIN-LEFT: 5pt; TEXT-INDENT: 70pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">21</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div>
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">discounts
and commissions but before deducting expenses) received by the Company bear to
the underwriting discounts and commissions received by the Underwriters.&#160;
The relative fault of the Company and of the Underwriters shall be determined by
reference to, among other things, whether the untrue statement or alleged untrue
statement of a material fact or omission or alleged omission relates to
information supplied by the Company or by the Underwriters and the parties&#8217;
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.&#160; The amount paid or payable by a party
as a result of the losses, claims, damages and liabilities referred to above
shall be deemed to include any legal or other fees or expenses reasonably
incurred by such party in connection with investigating or defending any claim
or action.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 5pt; TEXT-INDENT: 70pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and the Underwriters agree that it would not be just and equitable if
contribution pursuant to this Section 7 were determined by pro rata allocation
(even if the Underwriters were treated as one entity for such purpose) or by any
other method of allocation which does not take account of the equitable
considerations referred to in subsection (d)(i) and, if applicable (ii),
above.&#160; Notwithstanding the provisions of this Section 7, no Underwriter
shall be required to contribute any amount in excess of the underwriting
discounts and commissions applicable to the Securities purchased by such
Underwriter.&#160; No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation.&#160; The Underwriters&#8217; obligations to contribute pursuant to
this Section 7 are several in proportion to their respective underwriting
commitments and not joint.&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Substitution of
Underwriters.</font>&#160;&#160;If any Underwriter defaults in its obligation to
purchase the number of Securities which it has agreed to purchase under this
Agreement, the non-defaulting Underwriters shall be obligated to purchase (in
the respective proportions which the number of Securities set forth opposite the
name of each non-defaulting Underwriter in Schedule&#160;I hereto bears to the
total number of Securities set forth opposite the names of all the non-
defaulting Underwriters in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Schedule&#160;I</font>
hereto) the Securities which the defaulting Underwriter agreed but failed to
purchase; except that the non-defaulting Underwriters shall not be obligated to
purchase any of the Securities if the total number of Securities which the
defaulting Underwriter or Underwriters agreed but failed to purchase exceeds 10%
of the total number of Firm Securities, and any non-defaulting Underwriter shall
not be obligated to purchase more than 110% of the number of Securities set
forth opposite its name in Schedule&#160;I hereto purchasable by it pursuant to
the terms of Section&#160;3 hereof.&#160;&#160;If the foregoing maximums are
exceeded, (i)&#160;the non-defaulting Underwriters, and any other underwriters
satisfactory to the Representative who so agree, shall have the right, but shall
not be obligated, to purchase (in such proportions as may be agreed upon among
them) all the Securities.&#160;&#160;If the non- defaulting Underwriters or the
other underwriters satisfactory to the Representative do not elect to purchase
the Securities which the defaulting Underwriter or Underwriters agreed but
failed to purchase, this Agreement shall terminate without liability on the part
of any non-defaulting Underwriter or the Company except for the payment of
expenses to be borne by the Company and the Underwriters as provided in Section
5 hereof and the indemnity and contribution agreements of the Company and the
Underwriters contained in Section&#160;7 hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nothing
contained herein shall relieve a defaulting Underwriter of any liability it may
have for damages caused by its default.&#160;&#160;If the other underwriters
satisfactory to the Representative are obligated or agree to purchase the
Securities of a defaulting Underwriter, either the Representative or the Company
may postpone the First Closing Date for up to five full Business Days in order
to effect any changes that may be necessary in the Registration Statement, the
Disclosure Package or the Prospectus or in any other document or agreement, and
to file promptly any amendments or any supplements to the Registration Statement
or the Disclosure Package or the Prospectus which in the Representative&#8217;s
opinion may thereby be made necessary.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">22</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
Date and Termination.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
Agreement shall become effective at 9:00&#160;a.m., New York City time, on the
first full Business Day following the earlier of (i)&#160;the date hereof, or
(ii)&#160;the day on which the Representative release the initial public
offering of the Firm Securities for sale to the public.&#160;&#160;The
Representative shall notify the Company immediately after the Representative has
taken any action which causes this Agreement to become
effective.&#160;&#160;Until this Agreement is effective, it may be terminated by
the Company or by the Representative by giving notice as hereinafter provided to
the Representative or by the Representative by giving notice as hereinafter
provided to the Company, except that the provisions of Sections 5(n) and&#160;7
hereof shall at all times be effective.&#160;&#160;For the purpose of this
Section, the Securities shall be deemed to have been released for sale to the
public upon release by the Representative of an electronic communication
authorizing commencement of the offering the Securities for sale by the
Underwriters or other securities dealers.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Until the
First Closing Date, this Agreement may be terminated by the Representative by
giving notice as hereinafter provided to the Company, if (i)&#160;the Company
shall have failed, refused or been unable, at or prior to the First Closing
Date, to perform any agreement on its part to be performed hereunder unless the
failure to perform any agreement is due to the default or omission by any
Underwriter, (ii)&#160;any other condition of the obligations of the
Underwriters hereunder is not fulfilled; (iii)&#160;trading in securities
generally on the New York Stock Exchange or Nasdaq shall have been suspended or
minimum or maximum prices shall have been established on either of such
exchanges or such market by the Commission or by such exchange or other
regulatory body or governmental authority having jurisdiction; (iv)&#160;trading
or quotation in any of the Company&#8217;s securities shall have been suspended or
limited by the Commission or by the NYSE or Nasdaq or other regulatory body of
governmental authority having jurisdiction; (v)&#160;a general banking
moratorium shall have been declared by Federal or state authorities; (vi)&#160;a
material disruption in securities settlement, payment or clearance services in
the United States shall have occurred; (vii)&#160;there shall have been any
material adverse change in general economic, political or financial conditions
or if the effect of international conditions on the financial markets in the
United States shall be such as, in the Representative&#8217;s judgment, makes it
inadvisable to proceed with the delivery of the Securities; or (viii)&#160;any
attack on, outbreak or escalation of hostilities, declaration of war or act of
terrorism involving the United States or any other national or international
calamity or emergency if, in the Representative&#8217;s judgment, the effect of any
such attack, outbreak, escalation, declaration, act, calamity or emergency makes
it impractical or inadvisable to proceed with the completion of the public
offering or the delivery of the Securities.&#160;&#160;Any termination of this
Agreement pursuant to this Section&#160;9 shall be without liability on the part
of the Company or any Underwriter, except as otherwise provided in Sections 5(n)
or 7 hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
notice referred to above may be given at the address specified in
Section&#160;11 hereof in writing or by telegraph or telephone, and if by
telegraph or telephone, shall be immediately confirmed in writing.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 75pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
Agreement may also be terminated as provided in Section&#160;8
hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">23</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Survival of Indemnities,
Contribution, Warranties and Representations.</font>&#160;&#160;All
representations, warranties, and agreements of the Company and the Underwriting
herein or in certificates delivered pursuant hereto, and the agreements of the
several Underwriters and the Company contained in Section 7 hereof, shall remain
operative and in full force and effect regardless of any investigation made by
or on behalf of any Underwriter or any controlling person thereof, or the
Company or any of its officers, directors, or controlling persons, and shall
survive delivery of, and payment for, the Securities to and by the Underwriters
hereunder.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Notices.</font>&#160;&#160;All
communications hereunder shall be in writing and shall be mailed, hand delivered
or telecopied and confirmed to the parties hereto as follows:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 72pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 145pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      to the Representative:</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ladenburg
      Thalmann &amp; Co. Inc.</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4400
      Biscayne Blvd</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14th
      Floor</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Miami,
      Florida 33137</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:&#160;&#160;Daniel
      Seiner, Managing Director</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:&#160;&#160;(305)
      572-4199</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 72pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 145pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with
      a copy to:</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Graubard
      Miller</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">405
      Lexington Avenue</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
      York, New York 10174</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:
      David Alan Miller, Esq.</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:
      (212) 818-8881</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 72pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 145pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      to the Company:</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
      Holdings, Inc.</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">140
      NE 4th Avenue, Suite C</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delray
      Beach, FL 33483</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:&#160;&#160;Jan
      Norelid, CFO</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:&#160;&#160;(561)
      276-2268</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 72pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 145pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with
      a copy to:</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Arnstein
      &amp; Lehr LLP</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">200
      East Las Olas Boulevard</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Suite
      1700</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fort
      Lauderdale, Florida 33301-2299</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention:&#160;&#160;Dale
      S. Bergman, Esq.</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 216pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Facsimile:
      (954) 713-7738</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Information Furnished by
Underwriters.</font>&#160;&#160;The statements set forth under the caption
&#8220;Underwriting&#8221; in the table in the first paragraph concerning the names of each
Underwriter and the number of shares each Underwriter has agreed to purchase, in
the paragraphs concerning sales by Underwriters to the public at the offering
price and to dealers at such price less a concession and sales by Underwriters
to discretionary accounts in any preliminary prospectus and the Prospectus, and
in the first two paragraph under the caption &#8220;Underwriter - Stabilization, short
positions and penalty bids&#8221; constitute the only written information furnished by
or on behalf of any Underwriter referred to in paragraphs (b) and (c) of
Section&#160;1 hereof and in paragraphs (a) and (b) of Section&#160;7
hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">13.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Parties.</font>&#160;&#160;This
Agreement is made solely for the benefit of the several Underwriters, the
Company, any officer, director or controlling person referred to in
Section&#160;7 hereof, and their respective successors and assigns, and no other
person shall acquire or have any right by virtue of this
Agreement.&#160;&#160;The term &#8220;successors and assigns,&#8221; as used in this
Agreement, shall not include any purchaser of any of the Securities from any of
the Underwriters merely by reason of such purchase.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">24</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Definition of &#8220;Business Day&#8221; and
&#8220;Subsidiary&#8221;.</font>&#160;&#160;For purposes of this Agreement,
(a)&#160;&#8221;Business Day&#8221; means any day on which the New York Stock Exchange, Inc.
is open for trading, and (b)&#160;&#8221;Subsidiary&#8221; has the meaning set forth in Rule
405 under the Securities Act.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">15.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Governing Law.</font>&#160;&#160;This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York, without giving effect to the choice of law or conflict of
laws principles thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Partial
Unenforceability</font>.&#160;&#160;The invalidity or unenforceability of any
Section, paragraph or provision of this Agreement shall not affect the validity
or enforceability of any other Section, paragraph or provision
hereof.&#160;&#160;If any Section, paragraph or provision of this Agreement is
for any reason determined to be invalid or unenforceable, there shall be deemed
to be made such minor changes (and only such minor changes) as are necessary to
make it valid and enforceable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">17.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 5pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">General
Provisions</font>.&#160;&#160;This Agreement constitutes the entire agreement of
the parties to this Agreement and supersedes all prior written or oral and all
contemporaneous oral agreements, understandings and negotiations with respect to
the subject matter hereof (including, but not limited to, the letter of intent
between the Company and Ladenburg Thalmann, dated June 7, 2006, and any
amendment thereto).&#160;&#160;This Agreement may be executed in two or more
counterparts, each one of which shall be an original, with the same effect as if
the signatures thereto and hereto were upon the same instrument.&#160;&#160;This
Agreement may not be amended or modified unless in writing by all of the parties
hereto, and no condition herein (express or implied) may be waived unless waived
in writing by each party whom the condition is meant to benefit.&#160;&#160;The
Section headings herein are for the convenience of the parties only and shall
not affect the construction or interpretation of this Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">25</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Please
confirm, by signing and returning to us two (2) counterparts of this Agreement,
that the Representative is acting on behalf of itself and the several
Underwriters and that the foregoing correctly sets forth the agreement among the
Company and the several Underwriters.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 220pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Very
truly yours,</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 220pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CELSIUS
HOLDINGS, INC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 220pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;&#160;____________________&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 220pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 220pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Confirmed
and accepted as of the date first above mentioned:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">LADENBURG
THALMANN &amp; CO. INC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
Representative of the Several Underwriters named in Schedule I
hereto</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font>&#160;_____________________________&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font id="TAB1" style="MARGIN-LEFT: 252pt"></font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Daniel Seiner, Managing
Director</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">26</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SCHEDULE
I</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Underwriting
Agreement dated February ____, 2010</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Underwriter</font></div>
              </td>
              <td valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number
      of Firm Securities</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">to
      be Purchased</font></div>
              </td>
            </tr><tr>
              <td align="left" valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ladenburg
      Thalmann &amp; Co. Inc.</font></div>
              </td>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            </tr><tr>
              <td align="left" valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Maxim
      Group LLC</font></div>
              </td>
              <td align="left" valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td align="left" valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;900,000</font></div>
              </td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">27</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SCHEDULE
II</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Lock-Up
Agreements</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: effontselection">28</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SCHEDULE
III</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuer
Free Writing Prospectus</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.7
<SEQUENCE>3
<FILENAME>fs1a2ex4vii_celsius.htm
<DESCRIPTION>REVISED WARRANT AGREEMENT
<TEXT>
<html>
<head>
    <title>fs1a2ex4vii_celsius.htm</title>
<!-- Licensed to: <TP> Electronic Filing Services Corp.-->
<!-- Document Created using EDGARizerAgent 5.1.5.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 7%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7%; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
4.7</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WARRANT
AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Agreement
made as of February __, 2010 between CELSIUS HOLDINGS, INC., a Nevada
corporation, with offices at 140 NE 4th Avenue, Suite C, Delray Beach, FL 33483
(&#8220;Company&#8221;), and INTERWEST TRANSFER COMPANY, INC., a Utah corporation, with
offices at 1981 East Murray Holladay Road, Suite 100, Salt Lake City, Utah 84117
(&#8220;Warrant Agent&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
the Company is engaged in a public offering (&#8220;Public Offering&#8221;) of units, each
unit comprised of four shares of Common Stock (as defined below) and one Warrant
(as defined below) (the &#8220;Units&#8221;) and, in connection therewith, has determined to
issue and deliver (i) up to 1,035,000 Warrants (&#8220;Public Warrants&#8221;) to the public
investors (including those Warrants covered by the over-allotment option) and
(ii) up to 18,000 Warrants (&#8220;Underwriters&#8217; Warrants&#8221;) to the underwriters of the
Public Offering upon exercise of the purchase option granted to the underwriters
pursuant to the underwriting agreement relating to the Public Offering (the
Public Warrants and the Underwriters&#8217; Warrants, together, the &#8220;Warrants&#8221;), each
of such Warrants evidencing the right of the holder thereof to purchase one
share of Common Stock of the Company, par value $.001 per share (&#8220;Common
Stock&#8221;), for $_______ , subject to adjustment as described herein;
and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
the Company has filed with the Securities and Exchange Commission a Registration
Statement on Form S-1, No. 333-163207 (&#8220;Registration Statement&#8221;), for the
registration, under the Securities Act of 1933, as amended (&#8220;Act&#8221;) of, among
other securities, the Warrants and the shares of Common Stock issuable upon
exercise of the Warrants; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the
Warrant Agent is willing to so act, in connection with the issuance,
registration, transfer, exchange and exercise of the Warrants; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the
terms upon which they shall be issued and exercised, and the respective rights,
limitation of rights, and immunities of the Company, the Warrant Agent, and the
holders of the Warrants; and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WHEREAS,
all acts and things have been done and performed which are necessary to make the
Warrants, when executed on behalf of the Company and countersigned by or on
behalf of the Warrant Agent, as provided herein, the valid, binding and legal
obligations of the Company, and to authorize the execution and delivery of this
Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the
parties hereto agree as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Appointment of Warrant
Agent</font>.&#160;&#160;The Company hereby appoints the Warrant Agent to act as
agent for the Company for the Warrants, and the Warrant Agent hereby accepts
such appointment and agrees to perform the same in accordance with the terms and
conditions set forth in this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrants</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Form of
Warrant</font>.&#160;&#160;Each Warrant shall be issued in registered form only,
shall be in substantially the form of <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit A</font> hereto, the
provisions of which are incorporated herein and shall be signed by, or bear the
facsimile signature of, the Chairman of the Board or President and Treasurer,
Secretary or Assistant Secretary of the Company and shall bear a facsimile of
the Company&#8217;s seal. In the event the person whose facsimile signature has been
placed upon any Warrant shall have ceased to serve in the capacity in which such
person signed the Warrant before such Warrant is issued, it may be issued with
the same effect as if he or she had not ceased to be such at the date of
issuance.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Effect of
Countersignature</font>.&#160;&#160;Unless and until countersigned by the
Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no
effect and may not be exercised by the holder thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Registration</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.3.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrant
Register</font>.&#160;&#160;The Warrant Agent shall maintain books (&#8220;Warrant
Register&#8221;), for the registration of original issuance and the registration of
transfer of the Warrants.&#160;&#160;Upon the initial issuance of the Warrants,
the Warrant Agent shall issue and register the Warrants in the names of the
respective holders thereof in such denominations and otherwise in accordance
with instructions delivered to the Warrant Agent by the Company.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.3.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Registered
Holder</font>.&#160;&#160;Prior to due presentment for registration of transfer
of any Warrant, the Company and the Warrant Agent may deem and treat the person
in whose name such Warrant shall be registered upon the Warrant Register
(&#8220;registered holder&#8221;) as the absolute owner of such Warrant and of each Warrant
represented thereby (notwithstanding any notation of ownership or other writing
on the Warrant Certificate made by anyone other than the Company or the Warrant
Agent), for the purpose of any exercise thereof, and for all other purposes, and
neither the Company nor the Warrant Agent shall be affected by any notice to the
contrary.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Detachability of
Warrants</font>.&#160;&#160;The securities comprising the Units, including the
Warrants, will be issued separately and will be separately transferable
immediately upon issuance.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.5</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrant
Attributes</font>.&#160;&#160;The Underwriters&#8217; Warrants shall have the same
terms and be in the same form as the Public Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.6</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Uncertificated
Warrants</font>.&#160;&#160;Notwithstanding the foregoing and anything else
herein to the contrary, the Warrants may be issued in book-entry or
uncertificated form.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Terms and Exercise of
Warrants</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrant
Price</font>.&#160;&#160;Each Warrant shall, when countersigned by the Warrant
Agent, entitle the registered holder thereof, subject to the provisions of such
Warrant and of this Warrant Agreement, to purchase from the Company the number
of shares of Common Stock stated therein, at the price of $_____________ per
whole share, subject to the adjustments provided in Section 4 hereof and in the
last sentence of this Section 3.1.&#160;&#160;The term &#8220;Warrant Price&#8221; as used
in this Warrant Agreement refers to the price per share at which shares of
Common Stock may be purchased at the time a Warrant is exercised.&#160;&#160;The
Company in its sole discretion may lower the Warrant Price at any time prior to
the Expiration Date for a period of not less than twenty business days, provided
that any such reduction shall be identical among all of the
Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Duration of
Warrants</font>.&#160;&#160;A Warrant may be exercised only during the period
(&#8220;Exercise Period&#8221;) commencing on February ___, 2010 and terminating at 5:00
p.m., New York time on February ____, 2013 (&#8220;Expiration Date&#8221;).&#160;&#160;Each
Warrant not exercised on or before the Expiration Date shall become void, and
all rights thereunder and all rights in respect thereof under this Agreement
shall cease at the close of business on the Expiration Date; provided that if a
Warrant holder attempts to exercise a Warrant in accordance with Section 3.3
prior to the Expiration Date and the Registration Condition (as defined below)
is not satisfied at such time, such Warrant may be exercised until the later of
February ____, 2013 and the tenth business day following notice to the Warrant
holder that the Registration Condition is satisfied with respect to either Cash
Exercise or, to the extent available to such Warrant holder, Cashless
Exercise.&#160;&#160;The Company in its sole discretion may extend the duration
of the Warrants by delaying the Expiration Date; provided, however, the Company
will provide notice to registered holders of the Warrants of such extension of
not less than 20 days and, further provided that any such extension shall be
identical in duration among all of the Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exercise of
Warrants</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.3.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Payment</font>.&#160;&#160;Subject
to the provisions of the Warrant and this Warrant Agreement,&#160;&#160;a
Warrant, when countersigned by the Warrant Agent, may be exercised by the
registered holder thereof by surrendering it, at the office of the Warrant
Agent, or at the office of its successor as Warrant Agent, in Salt Lake City,
State of Utah, with the subscription form, as set forth in the Warrant, duly
executed (or in the case of the Warrants held in book-entry form on the records
of the Depositary Trust Company (&#8220;DTC&#8221;) or its nominee, the Warrant being
exercised free on the records of the DTC to an account of the Warrant Agent at
DTC with a subscription form properly delivered in accordance with DTC&#8217;s
procedures), and by paying in full the Warrant Price for each full share of
Common Stock as to which the Warrant is exercised and any and all applicable
taxes due in connection with the exercise of the Warrant, the exchange of the
Warrant for the shares of Common Stock and the issuance of such shares of Common
Stock, as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">in lawful
money of the United States, in cash, good certified check or good bank draft
payable to the order of the Company (&#8220;Cash Exercise&#8221;); or</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">if a
registration statement, or an exemption from registration, under the Act is not
available for the resale of the shares of Common Stock underlying the Warrant
and the &#8220;Fair Market Value&#8221; (as defined below) is greater than the Warrant
Price, by surrendering the Warrant for that number of shares of Common Stock
equal to the quotient obtained by dividing (x) the product of the number of
shares of Common Stock as to which the Warrant is exercised multiplied by the
difference between the Warrant Price and the Fair Market Value by (y) the Fair
Market Value (&#8220;Cashless Exercise&#8221;). Solely for purposes of this Section
3.3.1(b), the &#8220;Fair Market Value&#8221; shall mean the arithmetic average of closing
sale price of the Common Stock for the five (5) trading days ending on the
trading day immediately prior to the date of exercise.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.3.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Issuance of
Certificates</font>.&#160;&#160;As soon as practicable but in any event by 5:00
p.m., Salt Lake City time on the third business day after the exercise of any
Warrant and the clearance of the funds in payment of the Warrant Price (if cash
is paid), the Company shall issue to the registered holder of such Warrant a
certificate or certificates for the number of full shares of Common Stock to
which he is entitled, registered in such name or names as may be directed by
him, her or it (or in lieu of delivering physical certificates, if the Warrant
agent is participating in DTC&#8217;s Fast Automated Securities Transfer program, the
Company shall use its reasonable best efforts to cause the Warrant Agent to
credit the account of the applicable DTC participant through DTC&#8217;s Deposit
Withdrawal Agent Commission system), and if such Warrant shall not have been
exercised in full, a new countersigned Warrant for the number of shares as to
which such Warrant shall not have been exercised.&#160;&#160;Notwithstanding the
foregoing, the Company shall not be obligated to deliver any securities pursuant
to the exercise of a Warrant and shall have no obligation to settle such Warrant
exercise unless:&#160;&#160;(i) a registration statement under the Act with
respect to the shares of Common Stock is effective, subject to the Company&#8217;s
satisfying its obligations under Section 7.4 or (ii) in the opinion of counsel
to the Company, the exercise of the Warrants is exempt from the registration
requirements of the Act and such securities are qualified for sale or exempt
from qualification under applicable securities laws of the states or other
jurisdictions in which the registered holders reside (&#8220;Registration Condition&#8221;).
In the event the Registration Condition is not satisfied, the holder of such
Warrant shall not be entitled to exercise such Warrant and such Warrant may have
no value. In no event will the Company be required to net cash settle the
Warrant exercise.&#160;&#160;Warrants may not be exercised by, or securities
issued to, any registered holder in any state in which such exercise would be
unlawful.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.3.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Valid
Issuance</font>.&#160;&#160;All shares of Common Stock issued upon the proper
exercise of a Warrant in conformity with this Agreement shall be validly issued,
fully paid and nonassessable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.3.4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Date of
Issuance</font>.&#160;&#160;Each person in whose name any such certificate for
shares of Common Stock is issued shall for all purposes be deemed to have become
the holder of record of such shares on the date on which the Warrant was
surrendered and payment of the Warrant Price was made, irrespective of the date
of delivery of such certificate, except that, if the date of such surrender and
payment is a date when the share transfer books of the Company are closed, such
person shall be deemed to have become the holder of such shares at the close of
business on the next succeeding date on which the share transfer books are
open.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.3.5</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Limitations on
Exercise</font>.&#160;&#160;Notwithstanding anything to the contrary contained
herein, the number of shares of Common Stock that may be acquired by the
registered holder upon any exercise of Warrants (or otherwise in respect hereof)
shall be limited to the extent necessary to insure that, following such exercise
(or other issuance), the total number of shares of Common Stock then
beneficially owned by such holder and its Affiliates and any other Persons whose
beneficial ownership of Common Stock would be aggregated with the holder's for
purposes of Section 13(d) of the Exchange Act, does not exceed 9.999% of the
total number of issued and outstanding shares of Common Stock (including for
such purpose the shares of Common Stock issuable upon such exercise). For such
purposes, beneficial ownership shall be determined in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
This provision shall not restrict the number of shares of Common Stock which a
registered holder may receive or beneficially own in order to determine the
amount of securities or other consideration that such holder may receive in the
event of a transaction contemplated by Section 4 of this Warrant
Agreement.&#160;&#160;This restriction may not be waived.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Adjustments</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Stock Dividends - Split
Ups</font>.&#160;&#160;If after the date hereof, and subject to the provisions
of Section 4.6 below, the number of outstanding shares of Common Stock is
increased by a stock dividend payable in shares of Common Stock, or by a split
up of Common Stock, or other similar event, then, on the effective date of such
stock dividend, split up or similar event, the number of shares of Common Stock
issuable on exercise of each Warrant shall be increased in proportion to such
increase in outstanding shares of Common Stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Aggregation of
Shares</font>.&#160;&#160;If after the date hereof, and subject to the
provisions of Section 4.6, the number of outstanding shares of Common Stock is
decreased by a consolidation, combination, reverse stock split or
reclassification of Common Stock or other similar event, then, on the effective
date of such consolidation, combination, reverse stock split, reclassification
or similar event, the number of shares of Common Stock issuable on exercise of
each Warrant shall be decreased in proportion to such decrease in outstanding
shares of Common Stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Adjustments in Exercise
Price</font>.&#160;&#160;Whenever the number of shares of Common Stock
purchasable upon the exercise of the Warrants is adjusted, as provided in
Section 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest
cent) by multiplying such Warrant Price immediately prior to such adjustment by
a fraction (x) the numerator of which shall be the number of shares of Common
Stock purchasable upon the exercise of the Warrants immediately prior to such
adjustment, and (y) the denominator of which shall be the number of shares of
Common Stock so purchasable immediately thereafter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Replacement of Securities
upon Reorganization, etc</font>.&#160;&#160;In case of any reclassification or
reorganization of the outstanding shares of Common Stock (other than a change
covered by Section 4.1 or 4.2 hereof or that solely affects the par value of
such shares of Common Stock), or in the case of any merger or consolidation of
the Company with or into another corporation (other than a consolidation or
merger in which the Company is the continuing corporation and that does not
result in any reclassification or reorganization of the outstanding shares of
Common Stock), or in the case of any sale or conveyance to another corporation
or entity of the assets or other property of the Company as an entirety or
substantially as an entirety in connection with which the Company is dissolved
(each a &#8220;Fundamental Transaction&#8221;), it shall be a condition to such Fundamental
Transaction that the Company or any successor to the Company in the Fundamental
Transaction (&#8220;Successor&#8221;) either (i) if the common stock of the Company or any
Successor is traded on a national securities exchange (as defined in the Act)
after the Fundamental Transaction, assume or remain bound by each outstanding
Warrant or deliver in exchange for each outstanding Warrant a written instrument
substantially </font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">similar
to the Warrant entitling the Warrant holders to purchase, in lieu of the shares
of Common Stock of the Company immediately theretofore purchasable and
receivable upon the exercise of the rights represented thereby, the common stock
of the Company or any Successor at an exercise price equitably adjusted to
reflect the terms of the Fundamental Transaction or (ii) if the common stock of
the Company or any Successor is not so traded, deliver in exchange for each
outstanding Warrant a written instrument substantially similar to the Warrant
entitling the Warrant holders to purchase, in lieu of the shares of Common Stock
of the Company immediately theretofore purchasable and receivable upon the
exercise of the rights represented thereby, the kind and amount of shares of
stock or other securities or property (including cash) receivable upon such
Fundamental Transaction, that the Warrant holder would have received if such
Warrant holder had exercised his, her or its Warrant(s) immediately prior to
such event; and if any reclassification also results in a change in Common Stock
covered by Section 4.1 or 4.2, then such adjustment shall be made pursuant to
Sections 4.1, 4.2, 4.3 and this Section 4.4.&#160;&#160;The provisions of this
Section 4.4 shall similarly apply to successive Fundamental
Transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.5</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Notices of Changes in
Warrant</font>.&#160;&#160;Upon every adjustment of the Warrant Price or the
number of shares issuable upon exercise of a Warrant, the Company shall give
written notice thereof to the Warrant Agent, which notice shall state the
Warrant Price resulting from such adjustment and the increase or decrease, if
any, in the number of shares purchasable at such price upon the exercise of a
Warrant, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based.&#160;&#160;Upon the occurrence of
any event specified in Sections 4.1, 4.2, 4.3 or 4.4, then, in any such event,
the Company shall give written notice to each Warrant holder, at the last
address set forth for such holder in the warrant register, of the record date or
the effective date of the event.&#160;&#160;Failure to give such notice, or any
defect therein, shall not affect the legality or validity of such
event.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.6</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">No Fractional
Shares</font>.&#160;&#160;Notwithstanding any provision contained in this
Warrant Agreement to the contrary, the Company shall not issue fractional shares
upon exercise of Warrants.&#160;&#160;If, by reason of any adjustment made
pursuant to this Section 4, the holder of any Warrant would be entitled, upon
the exercise of such Warrant, to receive a fractional interest in a share, the
Company shall, upon such exercise, round up or down to the nearest whole number
the number of the shares of Common Stock to be issued to the Warrant
holder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.7</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Form of
Warrant</font>.&#160;&#160;The form of Warrant need not be changed because of
any adjustment pursuant to this Section 4 (other than Section 4.4), and Warrants
issued after such adjustment may state the same Warrant Price and the same
number of shares as is stated in the Warrants initially issued pursuant to this
Agreement.&#160;&#160;However, the Company may at any time in its sole
discretion make any change in the form of Warrant that the Company may deem
appropriate and that does not affect the substance thereof, and any Warrant
thereafter issued or countersigned, whether in exchange or substitution for an
outstanding Warrant or otherwise, may be in the form as so changed.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Transfer and Exchange of
Warrants</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Registration of
Transfer</font>.&#160;&#160;The Warrant Agent shall register the transfer, from
time to time, of any outstanding Warrant upon the Warrant Register, upon
surrender of such Warrant for transfer, properly endorsed with signatures
properly guaranteed and accompanied by appropriate instructions for
transfer.&#160;&#160;Upon any such transfer, a new Warrant representing an equal
aggregate number of Warrants shall be issued and the old Warrant shall be
cancelled by the Warrant Agent.&#160;&#160;The Warrants so cancelled shall be
delivered by the Warrant Agent to the Company from time to time upon
request.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Procedure for Surrender of
Warrants</font>.&#160;&#160;Warrants may be surrendered to the Warrant Agent,
together with a written request for exchange or transfer, and thereupon the
Warrant Agent shall issue in exchange therefor one or more new Warrants as
requested by the registered holder of the Warrants so surrendered, representing
an equal aggregate number of Warrants; provided, however, that in the event that
a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent
shall not cancel such Warrant and issue new Warrants in exchange therefor until
the Warrant Agent has received an opinion of counsel for the Company stating
that such transfer may be made and indicating whether the new Warrants must also
bear a restrictive legend.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Fractional
Warrants</font>.&#160;&#160;The Warrant Agent shall not be required to effect
any registration of transfer or exchange which will result in the issuance of a
warrant certificate for a fraction of a warrant.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Service
Charges</font>.&#160;&#160;No service charge shall be made for any exchange or
registration of transfer of Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.5</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Warrant Execution and
Countersignature</font>.&#160;&#160;The Warrant Agent is hereby authorized to
countersign and to deliver, in accordance with the terms of this Agreement, the
Warrants required to be issued pursuant to the provisions of this Section 5, and
the Company, whenever required by the Warrant Agent, will supply the Warrant
Agent with Warrants duly executed on behalf of the Company for such
purpose.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[Reserved.]</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Other Provisions Relating to
Rights of Holders of Warrants</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">No Rights as
Shareholder</font>.&#160;&#160;A Warrant does not entitle the registered holder
thereof to any of the rights of a shareholder of the Company, including, without
limitation, the right to receive dividends, or other distributions, exercise any
preemptive rights to vote or to consent or to receive notice as shareholders in
respect of the meetings of shareholders or the election of directors of the
Company or any other matter.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Lost, Stolen, Mutilated, or
Destroyed Warrants</font>.&#160;&#160;If any Warrant is lost, stolen, mutilated,
or destroyed, the Company and the Warrant Agent may on such terms as to
indemnity or otherwise as they may in their discretion impose (which shall, in
the case of a mutilated Warrant, include the surrender thereof), issue a new
Warrant of like denomination, tenor, and date as the Warrant so lost, stolen,
mutilated, or destroyed.&#160;&#160;Any such new Warrant shall constitute a
substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable
by anyone.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Reservation of Shares of
Common Stock</font>.&#160;&#160;The Company shall at all times reserve and keep
available a number of its authorized but unissued shares of Common Stock that
will be sufficient to permit the exercise in full of all outstanding Warrants
issued pursuant to this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Registration of Shares of
Common Stock</font>.&#160;&#160;The Company agrees that it shall, as necessary,
use its best efforts to file with the Securities and Exchange Commission a
post-effective amendment to the Registration Statement, or a new registration
statement, for the registration, under the Act, of the shares of Common Stock
issuable upon exercise of the Warrants, and it shall use its best efforts to
take such action as is necessary to qualify for sale, in those states in which
the Warrants were initially offered by the Company, the shares of Common Stock
issuable upon exercise of the Warrants.&#160;&#160;In either case, the Company
will use its best efforts to cause the same to become effective and to maintain
the effectiveness of such registration statement until the expiration of the
Warrants in accordance with the provisions of this Agreement.&#160;&#160;In
addition, the Company agrees to use its best efforts to register such securities
under the blue sky laws of the states of residence of the exercising warrant
holders to the extent an exemption is not available.&#160;&#160;The provisions
of this Section 7.4 may not be modified, amended or deleted without the prior
written consent of Ladenburg Thalmann &amp; Co. Inc., the representative of the
underwriters of the Public Offering.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Concerning the Warrant Agent
and Other Matters</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Scope of
Responsibility</font>.&#160;&#160;Notwithstanding any provision to the contrary,
the Warrant Agent is obligated only to perform the duties specifically set forth
in this Agreement, which shall be deemed purely ministerial in
nature.&#160;&#160;Under no circumstances will the Warrant Agent be deemed to be
a fiduciary to any party or any other person under this
Agreement.&#160;&#160;The Warrant Agent will not be responsible or liable for
the failure of any party to perform in accordance with this Agreement. The
Warrant Agent shall neither be responsible for, nor chargeable with, knowledge
of the terms and conditions of any other agreement, instrument, or document
other than this Agreement, whether or not an original or a copy of such
agreement has been provided to the Warrant Agent; and the Warrant Agent shall
have no duty to know or inquire as to the performance or nonperformance of any
provision of any such agreement, instrument, or document.&#160;&#160;References
in this Agreement to any other agreement, instrument, or document are for the
convenience of the parties hereto, and the Warrant Agent has no duties or
obligations with respect thereto.&#160;&#160;The Warrant Agent shall be under no
duty to inquire into or investigate the validity, accuracy or content of any
certificate, notice, instruction or request.&#160;&#160;The Warrant Agent shall
have no duty to confirm or verify the accuracy or correctness of any documents
deposited with it hereunder.&#160;&#160;The Warrant Agent shall have no duty or
obligation to make any calculations of any kind hereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">11</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Disagreements</font>.&#160;&#160;If
any conflict, disagreement or dispute arises between, among, or involving any of
the parties hereto concerning the meaning or validity of any provision hereunder
or concerning any other matter relating to this Agreement; if the Warrant Agent
is in doubt as to the action to be taken hereunder; the Warrant Agent receives
conflicting demands or instructions relating to the provisions of this
Agreement; or the Warrant Agent receives instructions, from any party to this
Agreement, that it believes are contrary to the terms of this Agreement, the
Warrant Agent is authorized to retain any received warrants and/or funds for
exercise thereof until the Warrant Agent (i) receives a final non-appealable
order of a court of competent jurisdiction or a final non-appealable arbitration
decision directing the disposition of any received warrants and/or funds for the
exercise thereof (and the parties hereto agree not to make the Warrant Agent a
party to such action) (ii) receives a written agreement executed by each of the
parties involved in such disagreement or dispute jointly directing the
disposition of any received warrants and/or funds for the exercise thereof, in
which event the Warrant Agent shall be authorized to take the actions regarding
the received warrants and/or funds received for the exercise thereof in
accordance with such final court order, arbitration decision, or agreement, or
(iii) files an interpleader action in the Third Judicial District Court for Salt
Lake County, State of Utah, and upon the filing thereof, the Warrant Agent shall
be relieved of all liability as to the received warrants and/or funds received
for the exercise thereof and shall be entitled to recover attorneys&#8217; fees,
expenses and other costs incurred in commencing and maintaining any such
interpleader action.&#160;&#160;The Warrant Agent shall be entitled to act on
any such agreement, court order, or arbitration decision without further
question, inquiry, or consent.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Concerning the Warrant
Agent</font>.&#160;&#160;The Warrant Agent may:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">rely on
and shall be protected in acting upon any certificate, instrument, opinion,
notice, instruction, letter, telegram or other document, or any security,
delivered to Warrant Agent and believed by Warrant Agent to be genuine and to
have been signed by the proper party or parties;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">rely on
and shall be protected in acting upon the written instructions of Company, its
counsel, or its representatives;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">consult
with counsel, and the written advice of such counsel or any written opinion of
such counsel shall be full and compete authorization and protection in respect
of any action taken, suffered or omitted by Warrant Agent hereunder in
accordance with such advice of such counsel or any such opinion of such
counsel.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
event that the Warrant Agent shall be uncertain as to its duties or rights
hereunder or shall receive instructions, claims or demands which, in its
opinion, are in conflict with any of the provisions of this Agreement, it shall
be entitled to refrain from taking any action until the questions regarding its
duties and rights are clarified to its satisfaction or it shall be directed
otherwise by a final judgment of a court of competent jurisdiction.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.5</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
any other provision of this Agreement, the Warrant Agent shall not be obligated
to perform any obligation hereunder and shall not incur any liability for the
nonperformance or breach of any obligation hereunder to the extent that the
Warrant Agent is delayed in performing, unable to perform or breaches such
obligation because of acts of God, war, terrorism, fire, floods, strikes,
electrical outages, equipment or transmission failures, or other causes
reasonably beyond its control.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.6</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">IN NO
EVENT SHALL THE WARRANT AGENT BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY
SPECIAL, INDIRECT OR CONSEQUENTIAL LOSSES OR DAMAGES OF ANY KIND WHATSOEVER
(INCLUDING BUT NOT LIMITED TO LOST PROFITS), EVEN IF THE WARRANT AGENT HAS BEEN
ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES AND REGARDLESS OF THE FORM
OF ACTION.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.7</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The&#160;&#160;Warrant
Agent shall not be responsible for the sufficiency or accuracy of the form, or
of the execution, validity, value or genuineness of, any document or property
received, held or delivered to it hereunder, or of any signature or endorsement
thereon, or for any lack of endorsement thereon, or for any description therein;
nor shall the Warrant Agent be responsible or liable to the Company or to anyone
else in any respect on account of the identity, authority or rights, of the
person executing or delivering or purporting to execute or deliver any document
or property or this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">13</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.8</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Warrant Agent shall have the right to assume, in the absence of written notice
to the contrary from the proper person or persons, that a fact or an event, by
reason of which an action would or might be taken by the Warrant Agent, does not
exist or has not occurred, without incurring liability to the Company or to
anyone else for any action taken or omitted to be taken or omitted, in good
faith and in the exercise of its own best judgment, in reliance upon such
assumption.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.9</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Indemnification</font>.&#160;&#160;The
Company shall indemnify, defend and hold harmless the Warrant Agent from and
against any and all loss, liability, cost, damage and expense, including,
without limitation, attorneys&#8217; fees and expenses or other professional fees and
expenses which the Warrant Agent may suffer or incur by reason of any action,
claim or proceeding arising out of or relating in any way to this Agreement, any
received warrants, or any transaction to which this Agreement
relates.&#160;&#160;The provisions of this Section shall survive the termination
of this Agreement by its own terms or otherwise.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.10</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Limitation of
Liability</font>.&#160;&#160;The Warrant Agent shall not be liable, directly or
indirectly, for any (i) damages, losses or expenses arising out of the services
provided hereunder, other than damages, losses or expenses which have been
finally adjudicated to have directly resulted from the Warrant Agent&#8217;s gross
negligence or willful misconduct, or (ii) special, indirect or consequential
damages or losses of any kind whatsoever (including without limitation lost
profits), even if the Warrant Agent has been advised of the possibility of such
losses or damages and regardless of the form of action.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.11</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Payment of
Taxes</font>.&#160;&#160;The Company will from time to time promptly pay all
taxes and charges that may be imposed upon the Company or the Warrant Agent in
respect of the issuance or delivery of shares of Common Stock upon the exercise
of Warrants, but the Company shall not be obligated to pay any transfer taxes in
respect of the Warrants or such shares.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.12</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Resignation, Consolidation,
or Merger of Warrant Agent</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">14</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.12.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Appointment of Successor
Warrant Agent</font>.&#160;&#160;The Warrant Agent, or any successor to it
hereafter appointed, may resign its duties and be discharged from all further
duties and liabilities hereunder after giving sixty (60) days&#8217; notice in writing
to the Company.&#160;&#160;If the office of the Warrant Agent becomes vacant by
resignation or incapacity to act or otherwise, the Company shall appoint in
writing a successor Warrant Agent in place of the Warrant Agent.&#160;&#160;If
the Company shall fail to make such appointment within a period of 30 days after
it has been notified in writing of such resignation or incapacity by the Warrant
Agent or by the holder of the Warrant (who shall, with such notice, submit his
Warrant for inspection by the Company), then the holder of any Warrant may apply
to the Supreme Court of the State of New York for the County of New York for the
appointment of a successor Warrant Agent at the Company&#8217;s cost.&#160;&#160;Any
successor Warrant Agent, whether appointed by the Company or by such court,
shall be a corporation organized and existing under the laws of either the State
of Utah, Florida or New York, in good standing and having its principal office
in either Salt Lake City, State of Utah, Miami, State of Florida or New York,
State of New York, as selected by the holder of the Warrants making application
to the Court and authorized under such laws to exercise corporate trust powers
and subject to supervision or examination by federal or state
authority.&#160;&#160;After appointment, any successor Warrant Agent shall be
vested with all the authority, powers, rights, immunities, duties, and
obligations of its predecessor Warrant Agent with like effect as if originally
named as Warrant Agent hereunder, without any further act or deed; but if for
any reason it becomes necessary or appropriate, the predecessor Warrant Agent
shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and
rights of such predecessor Warrant Agent hereunder; and upon request of any
successor Warrant Agent the Company shall make, execute, acknowledge, and
deliver any and all instruments in writing for more fully and effectually
vesting in and confirming to such successor Warrant Agent all such authority,
powers, rights, immunities, duties, and obligations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.12.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Notice of Successor Warrant
Agent</font>.&#160;&#160;In the event a successor Warrant Agent shall be
appointed, the Company shall give notice thereof to the predecessor Warrant
Agent and the transfer agent for the Common Stock not later than the effective
date of any such appointment.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.12.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Merger or Consolidation of
Warrant Agent</font>.&#160;&#160;Any corporation into which the Warrant Agent
may be merged or with which it may be consolidated or any corporation resulting
from any merger or consolidation to which the Warrant Agent shall be a party
shall be the successor Warrant Agent under this Agreement without any further
act.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.13</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Fees and Expenses of Warrant
Agent</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">15</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.13.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Remuneration</font>.&#160;&#160;The
Company agrees to pay the Warrant Agent reasonable remuneration for its services
as such Warrant Agent hereunder and will reimburse the Warrant Agent upon demand
for all expenditures that the Warrant Agent may reasonably incur in the
execution of its duties hereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.13.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Further
Assurances</font>.&#160;&#160;The Company agrees to perform, execute,
acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may
reasonably be required by the Warrant Agent for the carrying out or performing
of the provisions of this Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8.14</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Acceptance of
Agency</font>.&#160;&#160;The Warrant Agent hereby accepts the agency
established by this Agreement and agrees to perform the same upon the terms and
conditions herein set forth and among other things, shall account promptly to
the Company with respect to Warrants exercised and concurrently account for, and
pay to the Company, all moneys received by the Warrant Agent for the purchase of
shares of Common Stock through the exercise of Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Miscellaneous
Provisions</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Successors</font>.&#160;&#160;All
the covenants and provisions of this Agreement by or for the benefit of the
Company or the Warrant Agent shall bind and inure to the benefit of their
respective successors and assigns.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Notices</font>.&#160;&#160;Any
notice, statement or demand authorized by this Warrant Agreement to be given or
made by the Warrant Agent or by the holder of any Warrant to or on the Company
shall be sufficiently given when so delivered if by hand or overnight delivery
or if sent by certified mail or private courier service within five days after
deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Company with the Warrant Agent), as
follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Celsius
Holdings, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">140 NE
4th Avenue, Suite C</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delray
Beach, Florida 33483</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn:&#160;&#160;CEO
and CFO</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Any
notice, statement or demand authorized by this Agreement to be given or made by
the holder of any Warrant or by the Company to or on the Warrant Agent shall be
sufficiently given when so delivered if by hand or overnight delivery or if sent
by certified mail or private courier service within five days after deposit of
such notice, postage prepaid, addressed (until another address is filed in
writing by the Warrant Agent with the Company), as follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Interwest
Transfer Company, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1981 East
Murray Holladay Road, Suite 100</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Salt Lake
City, Utah 84117</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn:&#160;&#160;Warrant
Department</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with a
copy in each case to:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Graubard
Miller</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Chrysler Building</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">405
Lexington Avenue</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New York,
New York 10174</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn:&#160;&#160;David
Alan Miller, Esq.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Arnstein
&amp; Lehr LLP</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">200 East
Las Olas Boulevard, Suite 1700</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fort
Lauderdale, Florida 33301-2299</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn:&#160;&#160;Dale
S. Bergman, Esq.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ladenburg
Thalmann &amp; Co. Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4400
Biscayne Blvd, 14th Floor</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Miami,
Florida 33137</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attn:&#160;&#160;Daniel
Seiner, Managing Director</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">17</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Applicable
Law</font>.&#160;&#160;The validity, interpretation, and performance of this
Agreement and of the Warrants shall be governed in all respects by the laws of
the State of New York, without giving effect to conflicts of law principles that
would result in the application of the substantive laws of another
jurisdiction.&#160;&#160;The Company hereby agrees that any action, proceeding
or claim against it arising out of or relating in any way to this Agreement
shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of the State of New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be
exclusive.&#160;&#160;The Company hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenience
forum.&#160;&#160;Any such process or summons to be served upon the Company may
be served by transmitting a copy thereof by registered or certified mail, return
receipt requested, postage prepaid, addressed to it at the address set forth in
Section 9.2 hereof.&#160;&#160;Such mailing shall be deemed personal service and
shall be legal and binding upon the Company in any action, proceeding or
claim.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.4</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Persons Having Rights under
this Agreement</font>.&#160;&#160;Nothing in this Agreement expressed and
nothing that may be implied from any of the provisions hereof is intended, or
shall be construed, to confer upon, or give to, any person or corporation other
than the parties hereto and the registered holders of the Warrants and, for the
purposes of Sections 7.4, 9.2 and 9.8 hereof, Ladenburg Thalmann &amp; Co. Inc.,
any right, remedy, or claim under or by reason of this Warrant Agreement or of
any covenant, condition, stipulation, promise, or agreement
hereof.&#160;&#160;Ladenburg Thalmann &amp; Co. Inc. shall be deemed to be a
third-party beneficiary of this Agreement with respect to Sections 7.4, 9.2 and
9.8 hereof.&#160;&#160;All covenants, conditions, stipulations, promises, and
agreements contained in this Warrant Agreement shall be for the sole and
exclusive benefit of the parties hereto (and Ladenburg Thalmann &amp; Co. Inc.
with respect to the Sections 7.4, 9.2 and 9.8 hereof) and their successors and
assigns and of the registered holders of the Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.5</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Examination of the Warrant
Agreement</font>.&#160;&#160;A copy of this Agreement shall be available at all
reasonable times at the office of the Warrant Agent for inspection by the
registered holder of any Warrant.&#160;&#160;The Warrant Agent may require any
such holder to submit his Warrant for inspection by it.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.6</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Counterparts</font>.&#160;&#160;This
Agreement may be executed in any number of original or facsimile counterparts
and each of such counterparts shall for all purposes be deemed to be an
original, and all such counterparts shall together constitute but one and the
same instrument.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">18</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.7</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Effect of
Headings</font>.&#160;&#160;The Section headings herein are for convenience only
and are not part of this Warrant Agreement and shall not affect the
interpretation thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">9.8</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments</font>.&#160;&#160;This
Agreement may be amended by the parties hereto without the consent of any
registered holder for the purpose of curing any ambiguity, or of curing,
correcting or supplementing any defective provision contained herein or adding
or changing any other provisions with respect to matters or questions arising
under this Agreement as the parties may deem necessary or desirable and that the
parties deem shall not adversely affect the interest of the registered
holders.&#160;&#160;All other modifications or amendments, including any
amendment to increase the Warrant Price or shorten the Exercise Period, shall
require the written consent of Ladenburg Thalmann &amp; Co. and the registered
holders of a majority of the then outstanding
Warrants.&#160;&#160;Notwithstanding the foregoing, the Company may lower the
Warrant Price or extend the duration of the Exercise Period pursuant to Sections
3.1 and 3.2, respectively, without the consent of the registered
holders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Severability</font>.&#160;&#160;This
Warrant Agreement shall be deemed severable, and the invalidity or
unenforceability of any term or provision hereof shall not affect the validity
or enforceability of this Warrant Agreement or of any other term or provision
hereof. Furthermore, in lieu of any such invalid or unenforceable term or
provision, the parties hereto intend that there shall be added as a part of this
Warrant Agreement a provision as similar in terms to such invalid or
unenforceable provision as may be possible and be valid and
enforceable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>IN WITNESS WHEREOF, this Agreement has
been duly executed by the parties hereto as of the day and year first above
written.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CELSIUS
HOLDINGS, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;<font style="TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 405pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 405pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INTERWEST
TRANSFER COMPANY, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 387pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;<font style="TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 405pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 405pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">20</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">NUMBER</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">________-W</font></div>
            </td>
            <td valign="top" width="8%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(SEE
      REVERSE SIDE FOR LEGEND)</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">THIS
      WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M. SALT LAKE CITY
      TIME, __________, 2013</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
            </td>
            <td valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="16%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">WARRANTS</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">CELSIUS
HOLDINGS, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 450pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CUSIP
__________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WARRANT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">THIS
CERTIFIES THAT, for value received&#160;&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">is the
registered holder of a Warrant or Warrants expiring ________, 2013 (the
&#8220;Warrant&#8221;) to purchase one fully paid and non-assessable share of Common Stock,
par value $0.001 per share (&#8220;Share(s)&#8221;), of Celsius Holdings, Inc., a Nevada
corporation (the &#8220;Company&#8221;), for each Warrant evidenced by this Warrant
Certificate.&#160;&#160;The Warrant entitles the holder thereof to purchase from
the Company, commencing on _______, 2010, such number of Shares of the Company
at the price of $_____ per share, upon surrender of this Warrant Certificate and
payment of the Warrant Price at the office or agency of the Warrant Agent,
Interwest Transfer Company, Inc., but only subject to the conditions set forth
herein and in the Warrant Agreement between the Company and Interwest Transfer
Company, Inc.&#160;&#160;The Company shall not be obligated to deliver any
securities pursuant to the exercise of a Warrant and shall have no obligation to
settle a Warrant exercise unless a registration statement under the Securities
Act of 1933, as amended, (the &#8220;Act&#8221;) with respect to the Shares is effective or,
in the opinion of counsel to the Company, the exercise of the Warrants is exempt
from the registration requirements of the Act and such securities are qualified
for sale or exempt from qualification under applicable securities laws of the
states or other jurisdictions in which the registered holders reside
(&#8220;Registration Condition&#8221;), subject to the Company satisfying its obligations
under Section 7.4 of the Warrant Agreement to use its best efforts. In the event
that the Registration Condition is not satisfied for one or both of cash and
cashless exercise, the holder of such Warrant shall not be entitled to exercise
such Warrant and such Warrant may have no value. In no event will the Company be
required to net cash settle the warrant exercise. The Warrant Agreement provides
that upon the occurrence of certain events the Warrant Price and the number of
Warrant Shares purchasable hereunder, set forth on the face hereof, may, subject
to certain conditions, be adjusted.&#160;&#160;&#160;The term Warrant Price as
used in this Warrant Certificate refers to the price per Share at which Shares
may be purchased at the time the Warrant is exercised.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No
fraction of a Share will be issued upon any exercise of a Warrant.&#160;&#160;If
the holder of a Warrant would be entitled to receive a fraction of a Share upon
any exercise of a Warrant, the Company shall, upon such exercise, round up or
down to the nearest whole number the number of Shares to be issued to such
holder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon any
exercise of the Warrant for less than the total number of full Shares provided
for herein, there shall be issued to the registered holder hereof or the
registered holder&#8217;s assignee a new Warrant Certificate covering the number of
Shares for which the Warrant has not been exercised.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Warrant
Certificates, when surrendered at the office or agency of the Warrant Agent by
the registered holder hereof in person or by attorney duly authorized in
writing, may be exchanged in the manner and subject to the limitations provided
in the Warrant Agreement, but without payment of any service charge, for another
Warrant Certificate or Warrant Certificates of like tenor and evidencing in the
aggregate a like number of Warrants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Upon due
presentment for registration of transfer of the Warrant Certificate at the
office or agency of the Warrant Agent, a new Warrant Certificate or Warrant
Certificates of like tenor and evidencing in the aggregate a like number of
Warrants shall be issued to the transferee in exchange for this Warrant
Certificate, subject to the limitations provided in the Warrant Agreement,
without charge except for any applicable tax or other governmental
charge.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company and the Warrant Agent may deem and treat the registered holder as the
absolute owner of this Warrant Certificate (notwithstanding any notation of
ownership or other writing hereon made by anyone), for the purpose of any
exercise hereof, of any distribution to the registered holder, and for all other
purposes, and neither the Company nor the Warrant Agent shall be affected by any
notice to the contrary.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
Warrant does not entitle the registered holder to any of the rights of a
stockholder of the Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">__________________________________________&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;____________________________________________</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Secretary</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;Chairman of the
Board</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SUBSCRIPTION
FORM</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To Be
Executed by the Registered Holder in Order to Exercise Warrants</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
undersigned Registered Holder irrevocably elects to exercise
______________&#160;Warrants represented by this Warrant Certificate, and to
purchase the Shares issuable upon the exercise of such Warrants, and requests
that Certificates for such shares shall be issued in the name of</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="top" width="94%" style="BORDER-TOP: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(PLEASE
      TYPE OR PRINT NAME AND ADDRESS)</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="94%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="94%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and be
delivered to&#160;&#160;<font style="TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#16
0;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(PLEASE
PRINT OR TYPE NAME AND ADDRESS)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and, if
such number of Warrants shall not be all the Warrants evidenced by this Warrant
Certificate, that a new Warrant Warrant Certificate for the balance of such
Warrants be registered in the name of, and delivered to, the Registered Holder
at the address stated below:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
_____________________&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;___________________________________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 252pt"></font>(SIGNATURE)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">___________________________________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 252pt"></font>(ADDRESS)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">___________________________________________</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 252pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">__________________________________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps"><font id="TAB1" style="MARGIN-LEFT: 252pt"></font>(TAX IDENTIFICATION
NUMBER)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ASSIGNMENT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To Be
Executed by the Registered Holder in Order to Assign Warrants</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For Value
Received, _______________________ hereby sell, assign, and transfer
unto</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="top" width="94%" style="BORDER-TOP: black 1px solid; BORDER-BOTTOM: black 1px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(PLEASE
      TYPE OR PRINT NAME AND ADDRESS)</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="94%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="94%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(SOCIAL
SECURITY OR TAX IDENTIFICATION NUMBER)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and be
delivered to&#160;<font style="TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#16
0;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font id="TAB1" style="MARGIN-LEFT: 12pt"></font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(PLEASE
PRINT OR TYPE NAME AND ADDRESS)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">______________________
of the Warrants represented by this Warrant Certificate, and hereby irrevocably
constitute and appoint ___________________ Attorney to transfer this Warrant
Certificate on the books of the Company, with full power of substitution in the
premises.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
_________________________&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_________________________________</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 252pt"></font>(SIGNATURE)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps">The
signature to the assignment of the Subscription Form must correspond to the name
written upon the face of this Warrant Certificate in every particular, without
alteration or enlargement or any change whatsoever, and must be guaranteed by a
commercial bank or trust company or a member firm of the American Stock
Exchange, New&#160;York Stock Exchange, Pacific Stock Exchange or Chicago Stock
Exchange.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>

      <div>
        <hr style="COLOR: black" align="left" noshade size="2" width="100%">
      </div>
    </div>
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>fs1a2ex23i_celsius.htm
<DESCRIPTION>CONSENT OF SHERB &AMP; CO., LLP
<TEXT>
<html>
<head>
    <title>fs1a2ex23i_celsius.htm</title>
<!-- Licensed to: <TP> Electronic Filing Services Corp.-->
<!-- Document Created using EDGARizerAgent 5.1.5.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 7%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7%; FONT-FAMILY: Times New Roman">
    <div>&#160;</div>
    <div>
    </div>
    <div>&#160;</div>
    <div style="TEXT-ALIGN: left"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit 23.1</font></div>
    <div style="TEXT-ALIGN: left">&#160;</div>
    <div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>&#160;</div>
        <div align="center">
          <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;<img src="sherbcel.jpg" alt=""></font></td>
                <td width="50%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1900
      NW Corporate Blvd., Suite 210 East</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Boca
      Raton, Florida 33431</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Tel.
      561-886-4200</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Fax.
      561-886-3330</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;e-mail:info@sherbcpa.com</font></div>
                </td>
              </tr><tr>
                <td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160; <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; COLOR: #0000c0; FONT-FAMILY: times new roman">SHERB
      &amp; CO., LLP</font></font></td>
                <td width="50%">
                  <div style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Offices in New
      York and Florida</font></div>
                </td>
              </tr></table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 11pt; COLOR: #0000c0; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      </div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
of Independent Registered Public Accounting Firm</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
consent to the use of our report dated February 23, 2009 on the consolidated
financial statements of Celsius Holdings, Inc. and Subsidiaries for the years
ended December 31, 2008 and 2007, included herein on the registration statement
of Celsius Holdings, Inc. on Amendment No. 2 to Form S-1, and to the reference
to our firm under the heading &#8220;Experts&#8221; in the prospectus.</font></div>

      <div style="DISPLAY: block; MARGIN-LEFT: 414pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/ Sherb
&amp; Co., LLP</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 414pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 414pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certified
Public Accountants</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Boca
Raton, Florida</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">February
5, 2010</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    </div>
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>celsiuslogo.gif
<TEXT>
begin 644 celsiuslogo.gif
M1TE&.#EAO@"T`/<```)<J!%DJ2UUKSR"N$R*NE:4PENARV2<Q6FDRFNJT76H
MRW6MT7JRU)%J,YMR-KM7/J9](KMG.+U\+)%M2[=?0[I;6[]A1[YE5+Y[6;AN
M9;AU9[AW=M)<-\5K/\=U--EH.=QU.N5[+^1Z.,);3,1:4M-=2=I;5<=G0\IG
M5<IX2,IU5M=G1M1F5]IU2-MZ5L=P;,-S>-9J9MEZ9]1U<^!=7>%L5^-[2.1W
M5N)I8N-Z8^-\=[I\AM!^@KJ&*KB*.K.2,JN#2\J>'-V('<>`-,N1)LF9,]N$
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ML^S`@?7'B/7'E_C8A_C7E_;)I_7'N/C7IOG:MOKDAOKEE_SRC_SRF?KFI_OG
MMOWRJ_WRNL'3W\/=[-+H\_?-Q??/T/C7Q?G:U_OHR/SIU_WSR/WUV.+N]>CT
M^?SIY?WWZ/W]_0```````"'Y!`$``/\`+`````"^`+0```C_`/L)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRI<N7
M,&/*G$FSILV;.'/JW,FSI\^?0(,*'4J4X[ZC^XHJ=7F47CU[2Z.JW$=O7CAU
M4*5J'7E4WCA8L];QVTH6)+UXW%S)`I>TK%N-_.S%P^8M%JVL;_-6C!M/7+=2
M=_4*GKBO7KAOKF+-JC>XL4-^^]:!\Y:8%C['F!&.W6<OG"O*JLSAS9S9GCU^
M<<M1IN;J$UO4I!N/Y?>MV]-RXKQ1<N4H43A\_.J-C2TXKKE6Z]:%4^0J$B5&
MB\+9PT?N,O&WJ/'9`W<J'#E755HU_W*$Y5"X>NO.`;_NEA\^].!2@0OWJDNC
M1HNJ+`*GKO]Z]F3Q<X\ZX+SR"BROK++(&&-0044CL(!SCCKW_`=@5.[=<XZ!
MKZ"2RAA<B#'&%51\LLHKYJBSCH47*N4>.[2$HDHLGWPB!AA>?`(&&)Z@LHHY
MYZS8HE0"LC-+**"$XH4G8C09RA9@B/')&+"8TXYU0[IX3SJR@`(*)DV&^668
MGJ!XSW!9$N5>.^FHXB4FGGBR19Q,QLD@*NI@F>90+Z+C)IV>8`(GH#^JA^:>
M0+F'3SM&_AFHH''"^0DJYU1X**(]94?..NJ8LXHJD0HJ*B@_4G@IICRY)YDK
MYVP8"B::Q/^JB2=)?J)*GK"A"A0^&AH(#BR@"JH))I^`H@HX*;*H:Z;XK`-+
M*JW`@@HHFE!;K2>J5`J<>\(MRVP]YZSB(2JOPCJK)Y_04J%V\U0SB3?EG.IM
M3<W",FFQM`ZJRHE7G5,))'WP<<@ACWPC[[PQQ:7.*[0^"B<JG[Q"62L&MJ)(
M(HG4V(C!"-_T7CBKS`HINJDT`LXZU%2"K#F>I:(**H[`LLZZ!W><4ES.HC(R
MR:FD8DZ!GX82BRJA(&GTOBA.V*W-++U73BJ?Q-GD&*V`TPK1H=`*RBBD@%**
M*OM^BC72,M?,=$B0*8>*&&".@<H7L*AS)"BD<$T**:7$(@LMZ*3_X[<YM+PR
MRRRTY'GVS?;40XXW8X39BC<2TA++W:3HW?<]-&?':SN<4W@X2JC94PYB88[A
M37JSE')W++6P<R9#LWT.NNC>>,-(DV`X0H[<J]=RI>PX068/.:U$<CL885`C
M3NJ5TW+./&8#WU)JWC@"2!@[,N(-++%TOTHJWHS35D&<S6/^:=%+;U0]WSCR
M2!_8=\'(U:JTD@HJB'Q#SZ%4B5,-)(@X!"(J08[=K2A7ZOM(9S[$!SZ`@0M5
M4(3+'`&=*A!B&_0XBERV40U#[($/5XB2E,"FBKV=HQWI2Z!$@O,*'56A"F"H
M`A\<\8E&!(P/>NA#-.)!%6P0(A![T(,0__^P(%I5*U9)VMLZ1J/"B_!C':FX
MT8ZJ,(A!H&(,4YB"$(4X"&W00Q[;B`8S!"$('<Q@!H'H`R)J5"Q952LT8FDB
M1O`1CK4]\`I4'(0CNI!%$;1@"E1@!#/BD8UK-*,8Q)C!#?;`R`8ZL@MA&$.<
M8A6*5:A'CA:YASFF!`82\8&,>IB"%*1@`QM0(0R4V$8VCM$,'LS`!7RHPA&R
M"()93H$/6IQ"%4(4J"29@S&87"$[5O$)[.%Q#\H01"BI((4L\@$1T<A&,^0`
M!Q1TH`M?<%`50@""%91@!2NP01;'204PS"D4LT!A,"%RCQA]8A':'(0RX@!(
M$LD0$=#(!C+BP/\'*E2AG#?BP@,A:`-P?E,$Y)1"%L10+5FP(X7K[(<ZW/1.
M!^F!$,P(A!0<1(4I].$1V+B&,1#QP#"%:4<H[:@(/L"!#WP`H5C8J">J%0MU
M1E0A^(@1*#YQB!?N@1D9Y2@7L-`'9B0#&7)HG$FWL(4F-16E8/#G%%CJ4A#P
M`0MA^(0F2"$+==Q4(?R@!=%0\4(]**,9RP@$%:X00B[TX1C),,8AG(J)+=15
M#$SEPA%F605C.D@$@!7!#?H@"4?,E%3D^"I"\.&I6#2BI\A41EJK$$+DP>$8
MQVC#(;C`!5%Y5@Q)2,$)(G""%NBA"@AE9C-MD`-F3.(3H]#$)UHQ#\7_&H0?
MG@I%(ZHPA1OD0!#)A.&.NC"#80BC#4U`@L,^BP0/1(`"%:@`"L"Y`D".4@0U
MT`$S*($D3RR"&L"TK4!R2K1&\-$&-]`#,>*`!91V@0W"L`4;BB"&Y7H63%U0
M@PM2H`(4M.`$'Q"E%%:*`QU(PQ&@$,,B"#$.\0J$'^H(VB?^0$H7F#4.>MB1
M&+B`"&%LX`Q?$)8F,N'&80E*#%Y0PQ[0P,@65%<$`RY!#0(QB4:,`0N"T`9$
MU8=;HI7B$U60@AY6H(<X$$,/8<#K%@XAWT0$:L2SVH2)824J3W0AOVA``Q]6
M\-(0K+0$@RW$(K#@!VV,3['\@$62BM:%9IHV_Q`\D$&2FU0'6[A!JR0&11$@
MH`5-7"((/4#"DB`50S7@L*`@6*D(5D"#&_P!$#C<QIF_&E8OE2(47,BB:5TP
M`SDSU1-KN$4;."&K)31@";+RA!.8H`0B+*FI&ZX"&O0``ANX]*4?(#(@A&B(
MVHHWK*2H9"C$(&3`M@`%**C"U,XP#%LD(E:<<,`<1C$*48@BU5Z00!,"U20(
MHN$/!:7!2T502C]`6@_;<'":2U&*5ZCB$U0(93-/0`(]X!74MK"%*30ABB=,
MP!+5%@6U14%B33!!`B&"M:R%6`,3F(`#5K""#5H`"$#L`1KT^+6:06$@3.OR
M"F&8`@4\P#9/V&$'MO^H@R9&X>\E4+O:L2TX*))`\@W'<`H6UL,-'"X"*TQ!
M!'M@Q"2BX6LTT\)+]5O%&$Y[!8&"@`KUQ<07-&`+/*R<$T#XP<`UL0DF2'E8
M8O!`$C8<!3!@H046O@$.6+`"*UP!"WP`1#7&P<2(XD,6HP"%)QQ!0]Z6DPL.
M8ANQRK"!.U-[$YT(N"@NL00??"%6GDC"$!KG(##PP04WF$(-<&""#V`!Y'R@
M!MUW++MZX#VVGU"$C:O0W@=&0?"8:((&-/!L@</\Y:`P`QEFBHDN1*`+-Z("
MX*=@@RK8H`8TJ&X(PQ`)<<SC-(J]>]VJ54,@"S>J/!)4[C50AE#<WMH"U\3_
M'33P>$QX(0)'P%TG.\I;M=,`!*UO1"7*\132GPW8==MI(\`P!N'>2`B=)2B<
M4`8:<`9;8VV*IPEVL`%U`"=C8`$G<'T<I45ZL'DU,`7M)0:.\`WE,`_*(D?\
MP`ZE0&V8L%-=H".5M0548`2PUP08P("<0#=U0VV@L`8;H`:!\@46,`(M@#U1
MQ4R`U5LY@`,VH&%C0`D<*!SV9S/W,`MTDV#W45\HU211D`7"$GD:L`%R(`=Y
MD`>*8`JAD`ALD`';UGLM0`+^%09LQ4P_)P)ZD`-`!$--T@C>$`[E`'TW-4QT
MXPF4(!Y<X`D[`FN>Q75)D(6V(`R(^`9YP`8:0`8A_X8)1U`%+A`#,:`':SA*
M660%?B`(@9!A4T,)WD`.2GA3N-4*I0`*1X@*G(52334GHC(K7(`&+P@#.P`#
M+Y`!*1!U8F`$7=`",2`#,J`'JC5*H\0'@5`(>S!G8^`(KF"'=8=)^*`.LD`*
MGC`>JB!0&L94]P5Y7Y`$_74!%P`"?P@G5"`$8E`%,J`#.A`(`D:,5?`'500_
M35*-CZ,.2T.*YZ`ZGE`)E(`*8=!Z>`5[KUB"*,8%7Q`B@L(%`'@C?"!9R@1C
MH\16?%`(@\`'P%=?RQB*>/A5[3`+=],*X7`_:Y6-=K6-D#(RF``&4!`B.\('
MS-`,RK`'$+E1+U1%%EER8_^0"JY@CTMX..HP.:4`"^)`"8V`@8'(5"5Y7_>U
M!5D0)2CU!\S@#,UP`S80`E*`1U4@/XAP9?7E"3FYD_>H6.'R-=Y!"8L`2!KF
M5':5E**B9">U(S_U#,VP!^+D3S(4!H>P"-B#D^##DPXV#]^P"NT6#N)0":@0
M4VF)E$@9D&XI13M"!8&@#3!)EU?I47J)55%")SD)#N7P@>O$#]8P"-0`"ZNP
M"MY`#?WX3ZRX5(KY5%#%3('P#&,41`X""`$4!I`TCWK7"%6#*^*U#].P!WY`
M#07B(=1`#0L"52($:TZIG)T4)3]%"$&D2W_P"(@0!KB99'`R"O08#G'TF\R@
M!V[_6(?2`C[4T`?E%%65M2/8V07*Z2!2P']]()U")$.2\`AZB9M-4H)ZAPJO
M<!YZHECS,`E_0`5C\`KG$!^I4`G44`BXA`6?AU*+P`C0P58D`I]B$`9]L`=9
MA`55X`B3L$?8&2(E1PJ?D`IQ\SH.U@_V0`V2I`FK$`[A(!Z2,`F3P`BX-`5$
M]`=8\&B[!J$^ITMC\`>G904-5%AFB3PE%2=>,ELGXYE?-3RH$">-(`[E``Z.
M@!^2(`F,4'&`4`B2,`C_\CY^4*98<&-:!'>/P(^.<`CNQ2.]!`JH4"4VM:(/
M%F'#A@C54`[$TPAA\&A_\`=^,`G<,`_T(!?N`AUHR@>,_X`(E%`);+H(4H20
M3%I)_*&B=OI@'0DJC1`)'#BC-@:A6"`)5CHZ;#H>?7`(DE`):UH)CD`)1,D%
M<S:/<$(*J@`+)P2E#H8/X8(NC0"*5H,*J#`>$\H(B6!CAT`)Y#`Z!409KCH&
M]_$%N+.?@A)L*&(JF7H03R0MC3,I8`,+AZ$;C+`;=0@]_<`9RN$*-B8&ZSIG
MD;)5I;`*A?,[V:H9ZB`MQ8)TJP"K72H-^],/LU$/!%(R##(&3CF/3[8ZSG,E
M/4EIZ4$+L_`*)?,'53"?18<:DI$*H3`I##(U"`LKHU`*>P,+L*"K]5H0^)"R
M]2`.TZ`-/#00P7$.I"DC'K*N'?_[KB$K"S]3-29[LIIA$(8QLZI@("4S)8`R
M4T)#"^G`#NK@"HGELQGQ1+]B(+!@/_<3-9&"+;-@#J[#*^(07E!K$4]D#B3;
M"JY@/U,J)?>R"K#@#7FR+<\7MACQ1)X1+>`0."4#+54+KK6#/@_6L'(+LRF;
M'.EA#K,0(>K0*NK0#M\@"?$2N!Z!&JB!.>VP+NM2#X]`"<\(N7`!LP`[$.7`
M!Y4`N)P+$8<R#WQ`":1;NA-1#H/@#:O+NA'1%YLKNR`!&;:;N[J[N[S;N[[[
MN]*C#^_`"PAP``L`#/H`O!D!#[H0``$``-`;``0`#,IK$?!``-";O<\+``+@
M"]4[$?K_<`#9*P`$4``"L+T"\`[?&Q&_L+W3F[SPL`#;>P#K"Q$%\+P"``\$
M$;[XJ[_UVQ`"`+T)8!#`@+_4^[\,$<`!H`L&\0X*?,`(K!`!#``(0,#/&P`0
M',$((;[<Z[\"`0\'T+\:K!`%#+T%@+S]``\*,+\CK!#\"[WD2P#G"\,>W,('
M<;W;F[TPG,$V?,,*<+X73+X\W,,(`0RZH`#&^PO)2\1,;*?)JP]0S+KPP`N\
MH+X?`0]&7+P$0``*L`"]8,4&(;S`,,98_`[P8,9H?,;PL,0%`0]N[,86(<:]
MT`O``,<-`<5L?!!/G,<,P<<)(;R_T`N\0,=K/!#Z@`L*H`NX_P#&&:$/OF"^
M.JS#SCL`NL#'P`#$SNN\`'#!FYS)O&`0.`S$OS`1P(``,ZS)W$L`O%##!0$,
M,AS#^7`0O[#%6ZP`?DP0NE``NEP`H_S'I0S$T1L``B``NJ"_\)`+QML+O9P1
MP!#"D?S,--S*.0S-D<S`;3S!T+O,#J$/NH#-T"R]L7P0O9##^7L0NJ##!,#*
M^\O!T%O!"*$/O.#-SRR]:XP+ND#%VEP1\#S-U)R]!&#!_?S,UDP0\.#-^;P0
M*AS0_IP0XSR^ZMP/S>O/#RT0^E``.FS+>HP`_`S-`I"\P+`+O'#0%+$`\MS)
MF8S*`;```*W0T3O0`U'0.BS2"<$+&_^]R=7,T.3\T.<LT7]LT=F+T09!TY%\
MTA=MR.&,$1$MR07`"\"0#U`,#[_``#+,R`)1P-L;``6@`%J]U5M]`%2=P@;]
M$#"MO02@"X&L"P=PONF+TPYMSN@\T?U0T44-RMZ,U;H`#+UPQ&H]Q!AQR9$\
MO1.-Q7Y<PCMLR'%]V`@QUMG\$$(=O4!-T2K\V`;1T-%<$-R<P^G<TQ?MQ^VK
MO0K`RE-\`$>M$7*MPP<`UR1,SE^-T&%]Q^P,``4PVONK$(W=P6[MS[*]OSX-
MO0IP$`B`SK>,V!Q!V-`[`*B=VN.[V@JAV`#`UWJ,O3]-$91MVP:QT]";V>^\
MVP`@V0+QV@7_<!+ZH``Z+`#.W1#$'0#*G1#,+=-A?+_9>P#!O1!)3=T%@0N8
MG=N&K-V];1#:30#QW1','=L50=QK#1',7=Z6_=KD/1&UW=%A;-T`@-UZK-]^
M+-[CZ[TE8=79VPL60>`(?L/>_.$$,=W<6\<1,=_E7-WHC-\4K=\'0=S<N\HD
M`>$`<-P+<=X)H`LZKN.^P`NZ0,<'X<`Z+.(O+<\"<,(L?A`-KLZ7C=L)D0_0
MS=LW'.71"]@B\=OC^]\,T=G?_-<@/N004=O:.P`RSA`H?LL6?MU)7MI2_N(U
M+0`,0.030>4"<!$P'KW0_,\$'.(0L<_?+`"]<-QG;LZ8'=_Y0.$(__$+);W)
MQ&SC$D$`Y&SG-9WG7YZ]<DX0\4S-`7#:M$W.:+[BFAW="7')-2V]Z4T1="[I
MDGS2K*[G!2'DECX1\&#*&TW/"3'H!F'?3HX0AZ[#N8#0N###SSR]'/':`7`1
MTPWG8[SLP/`+>,W7L`Z]EV[9[X```P#-](L0N%X0:1[A\:T/5+[?")W+>:[E
M$+$`DNSHHZ[:$>'7L6Z]O0#IDNS<VTX0N$#620[E<]T0^0`,[JV]'*X17"[M
M%C'P*2[6WGSJ8JW=`8``MPSA#FX0\KOK!]'KV?OK?>[,[VWN#N'NU\WQ".$+
M.=WNV(S!&G&]P$WH67[;Q0W7S/W)$0'";_]-V@P_[061[.I>Y&"N$0PPWCH]
MWK><[.D=[<T]$;W@\QLAY@<?$3A/\CN?$;R`]-7MZ4&>PP$0\.*<[J0L]<LK
MSYPN$>.,OCDO$-%N\AJ![MD[``\/])6^R=\]X6ROQPH!X1*>$23.O8&NQ\.K
MSB+OT$_<\25_Z<V,PGNNP^X\]2M_$*_=W'X\WRE=Q"?\T!X/`/#-$?G0[56N
M`'3\#F.L"Z_\U=/=\#L^^CM.^`-!])H?R*JOS+_@[(:LT0)P`"8>UUA<U_0>
M]RL-P[[`QO#LS0M^$"N,U76,Q[5O]5B_$15M]9(\SRXM$'<?T$O?#Y,_U"9-
MW<PMS`,P`"5OPBS_7N\$D0^+'P`#@`!(+,\+G-AU+0#:C\K^#/(QK_$L3?F3
M/>G0;-ROONC4G.)WWL^_S_+<&]\`\4X``((%#1XD`*_?0H8+@04X&+&@`&`-
M+5[$F+$AKP$0)2*\V,OCQX,"%#8$-I!DR9.\1JX<4%$CKI$"]&GLEW)EP0(G
M,>K<&4#`.YQ%C3*$IXM``*8&F0I5(+-A+P%/K5Y]FM"B0`!8O0H]J:\7@:H2
MF1X@BE-73:/PEGZ$ZC/CKP)E(S)5D/;HWJ+P?NG"I4"PKE_O;LY]!TPQL%^-
M'3_^=5%?XUZ\>/VRG%D7K\V7#R_4]TX7`@)D!Q`XP$NN1F""!Q_5!^P`_UD!
MM0444+`:)[Q>"@J4)E#@0"_=?(WC_'Q<^7*,^>`]SY<<=C_I;>$MAE=]KS[G
MV9E_!Q]>_'CRY<U;UZU/>T9]Q2VV=U\4OG?PL=/"-[X>8_OJSS6J_Z\\8!!8
M@('5@.%%/]`4&G"WWA301<&&PAHM@:C8BP\E!"I*2H$%I)(OEPQ!`V:!!719
M;1=?-.H%Q(;T84"O\'0Q4*'G_(.'J!O[\0Y`>'PQD,9@3MJ1.@90Q/&Y]MXA
MDLD?%R"2QAN!R0X^?7S)C4?ZM*PR`09N&O!)_]KC<C[UJ+R12"4=VM"[YYR,
MJCTJJ9ORIASM-`R>`T;DBP$&T(00`11U44P!!O\2`*8R>/[DT0!$&3!``02N
M\U,!,/>TTD->@/'3P-X2V!`!`V321Y=>8O-SPUX2(,Y17TH\T4Y#-P2F@`08
M-`!(*B<M$1Y)=?%%T`,4@Y+&!29=E($"*M)G@15!HQ$!`WDM$,H!<6GMN@(W
ME?8Y2\?3QX`C$]LS6'@V9,"74H']\]MSGTO@U4=UH?$F7Q)H#P%<WD'`EW-]
MH3=;7Z#\D"$8=U5LTB.S^W!`7P96S]0?_YQTH6!U&1686SD]E\J%$>4TF&6#
M"=5?1'G<D"&`%R44T38?-5!C8')EH,4-8XMPO'.#L1@!G#M&()A2Y8W7H0/:
M,P#>F?^4Z=Z(*7ZN`&#_@^DE0GK?18K7W)S6V&3%#`!6(7T0+;5%?!=*=]%>
M5@YXTF81-G7`V*(J8,B*]4F9.D3A0?1>N>$9]4*`?2G@X>Q&*U(\AZE<>^@P
MCQSX.7%/>B?I8'+CV-DY46[Y509XC)?*>T>?62JY!QP014Y;!8;D5V]:5U>`
M84\`V*![Z9?6SWU]SD"F+04&Q7X7.)JZT10+!G)5B>NWES]O'=IU-(,-WL7O
MDNJ%N#FIY/A'XE"6BC?NVQ.:ZN\7^I'0YV0*GCC>7GWN5:28?;CU'_T5"YC8
MLC^,-^+PLQBA.+0V-'%(?]=!X'6T%)N!Z<)@`$.2`!&8$_7%AD'9`8;A,JB_
M-LV=IR'!.-F$3E0?\DC(@WU96PA+>$*C!$-_%ID@"V4X0]"\2F@TQ&$.=;A#
,'O;0AS\$X@P#`@`[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>fs1nov09img1_celsius.gif
<TEXT>
begin 644 fs1nov09img1_celsius.gif
M1TE&.#EA]`&Q`?<``#DW.!HL?3P\030V>#U`/3]`0#E)>E8<'$<W,G8*"W8T
M-EL;4E$U4U`Y<6865WL*<W(V5FPZ:T]+-%MA+'A=&VE3*VYN,5!.3U),=5UA
M65AI=FY05VY,;W)M5W%Q<ADOEQTTH20XF2,YHQ]!DS1&E3!%ISIBME8:B4@\
MB7H3@7`WB4I2D$A6IU=FCU9GK&M/BFY8JFMSC6EUL$5:P5AMQ&M[PGN*'W>#
M*WF(6'B'<WB&C'>%MGF(PY(&!I$<))<K'9,L,[$("*\;([$H&[`P+HX)>(\U
M38TN=J,)>JTW3*8G=II<'XU:)XMR&X]N+;!-'K50,*=D'[=L-9!,4XU,<8UQ
M5XMT;JU-4*Q.:[)R4*QS;,P(!\P=(\PG&\DO*O@/`O(F%^PU+,T]1,Q0,M5[
M'<MQ-.9/-^5^&N)M-\Y13\I;8LQS1\QR<.E42^E?8>9M2N9S;)(4B)0MC(`_
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MS-SB[>K2T>K3Y^SLTN?GZ.;J\^SQZ>WQ]O3HZ/3I]/;VZ/[^_@``````````
M`````````````````````"'Y!`$``/\`+`````#T`;$!``C_`.\)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRI<N7
M,&/*G$FSILV;.'/JW,FSI\^?0(,*'4JTJ-&C2),J7<JTJ=.G4*-*G4JUJM6K
M6+-JW<JUJ]>O8,.*'4NVK-FS:-.J7<NVK=NW<./*G4NWKMV[>//JW<NWK]^_
M@`,+Y@BO<&%U[^"E4\QXL>''\.Y%GCRX<E+(B]-IWJR9,>3'D@5&QFIX<^%T
MXL0)6YU:6&IQX]"9=ESXGCW+N(>61NVX-6O7KE-S/OWX-LAY/4^C7KUKEP=A
MF5=+_RW<]&-YN;,G5XQ.-7,/NX05__8^7?7KSK1KWXN7DAY,S=[%.;]P(;PP
M#^#%+[</_'RY=.P89IQ+H&EGH&3+2;<+?<\)X]QSX\#CG7W&;%.A.,,9-M"`
M*CWFGDGB`-/<=`L"(,"(^#V7SCO&3$<=AIJM`YE,$F)XH&7I.+@+,`IZ<`$`
M]3F(WR[B*.:B,,\8<YYUA=G#WGNJC292.AX`:5]X"_X(7G-#+J;:+[Z\*,Y_
M`&+&V9E,2NE1.ERF<^-@)5[0BX-"_E@?E_CIQYQTXB23VCDQ/H;FH$R"!(^0
MPI`DGP82>,`+G<X5`,`&N_#R()%&EA<<C#GJR%]YLW%&IWB$W9?GFX'!TQQ]
M_*T*Y',/JO\HH8M)^DD.?)X>R9ILZ.$:GC@=R9>BFA^1N.=\0.;0G!5Y9LJ?
M>>3\=Q]]%X"WY8B?\KF:C^!M="B7%R2*ZE^'NFBI@_0!<&V7L_*G3'"`LFEG
M?2EN"<R<PMR;KW3X5>MF1K/FD>([(ZDVXC:`JN:+!QU@`*L.>2Y&JS%^CBE?
MM1BGF$=SP?`2C"_`?)QOQ\T]^&]$I1G\(+7BCMM7/+V(&)YLK<T'GHA#PBC,
MH^6)<ZLPU7J@`0=#EARF,$<?6?)SQ"Z$G'(JXY<!@TT'B^?&8;YFGH4Z0C>K
M=!6ZILPV][E6LJ["*#EFC.JL,^%S!TUFV#OI=*<@GM3F;8S+?U7_"DG1K%G\
M&G.8)ACXILU5V!R^NE:WCCJ:W3W.AZ))9A@[FI5#'I8KYWU!#D^&Q&:L*8Z8
M=C+5)/-,<(YIQFO=J;WK-7FK);W:-JF-DPXYY]!NG]:TZWBNI^M2ZZ._?/OE
M8`SU>A"#Z<+('OAB=)\YSN#Z!>^BUJ[[-G+TV-=>\N)AXOG\\0S2!RQ).7K`
M;+W.C:_#\Z:'KZLRJ9G3VKNKM\@UVL+XA:66AI\-3"UO0[K;TH@&"6;MXF3)
MV\NA(-'`>D%B8R7[V]D.!\!-#<X8J^L@B<9'.L\Q2`='.UNL*&@%2+1L)/20
M!A"`,`4KV'!+S<,/_2I%PAY"HH<]%%@._X>8(A->@``%D!2#FE>I7^SB%U:8
M`@W-$<&_O`,7GJC$(Q[!K!]";(@^U($5@$C&DNG@;T0D6O.H)0#Z%$`"!+B`
M$B^@@>;](H"4H(0E..$)7'`H)/2(AA>^L(4M!*$'/9AA#:/(+!MB\(DE>Z3'
M2K9#(-;K?<W#0`?JZ`$.Y`T`H`RE*`\```0<``$*,((4$=F#(!SR"E2LXE[>
M<8M7V/(5H?#$)A@QB5Y"@HLV_&$0Q^>I2O8P!E9@'A$]D`%F]HM:DA*E*!&`
M``E4H`(48$0E.-&)3H0"EZ\0A3=*,@TQ;.$+Z"2D(5T9!"($`0A$H.$4YCD%
M*M20"HY\HA,WEO\'*_!S%QC,0S]W,48/Y.%OF,SA!NA#300`@)0'B&@")IH`
M5K+SHD$P9`^TT`Y9YN4=NH#%*V3QBEB4]);A](1*/<&(4HRBE[W<(@4A\8M?
M!",8OYAI"W?QPYX>M(%`;>'[.H"?1C*L`QVPIE*Q20$*-*$)BXAJ-T/Q3916
M-9SA^&-'II&&<Z;SJ^@\9R$+R<Y6#H&=/_#!#(&@`"`P00$*J``]Z;F!*6S@
MKGBU*P0@`->^]C4!"ICH`1(P6(HB,J-C+:0ZQ\I.C6J!8!ZMBSW`(=)86%86
MEK7L23=[RV]VTQ.Y[(0G1,M'1HR"ES!-K6I5^PA>,N*UL&5$5&>[B4W_=,*V
MWD2I;G?[S6_"(JL@:0<;O`K6XA97K(1<+$;+RLKF.O>YT(UN*Q&K6..FDZRN
M-"00?A'9NH2CLID-+V8S6U*3VM*DZ-VM;GM+U?:Z-Q3>].9[W8M+^EY5O><M
MKWI[>XMP?,0>;.""=0=L73!\P<#I1+!7$\M@LAK2P1F-L(272UQU$CBQC7UG
M1[O[EMNTHY;C#2\LTDO26)2XQ.4U<68Q.U[.XO?%,%:OB6\97LVFM[/@#,4M
M(+L1>C!C"V$(`SH13&#C(OC(!QZR<<7:X"8C=KD7K7!RBZS.QHZ!HQQ^RSM*
M4=D1HU<6+"9O>M%;XS*'^,8QMJHMJ\K>'*-4_[.[C<6(7;QF6(A"%+C@<4;*
MR09H"!D,;3`PD:F<8"4+>LD,7FR#,PSEQDI9RL?%;G:O\`O*93DM[]"&ER\+
M"S!C]J0F;?&G;3S>,)\9S6G&;V]Q3&,YWW+39*:S*"CH"7'VF!ELF`8<P``&
M..R:T$9.LJ&MR^0F,_;!$X;RHR']53?`@0OKS"@1*+'A2Z<%':;H]$AA80I+
MF.(6M.BTBDLZ9QN+M\SA!76JU^QF'+/YS7!^1:=AH>T2F]>6I2"!!TKA"4M4
M;2+88,,;VF"&+\`!&KPF<)"#?60D@[7!BF9PA)&=["A_8>'5-6X8IB'<Q'HA
MU].PM+7+P@M(9%L6L/^P1`Q<@`Q+6*+<*;9Q24U]61.SN,7K?O&JW7Q56=Q"
MI/(V!2U*80H4F]>\L%@!)&91";AAQ,=L"`,TH/$&:`1ZT%^5>CO:T0:P.MS0
M9@AT6+_@A7-"N]B+SFZRW>GH+T!C&EW/.%@W3H]I`#H-8H!&.YYACFJ/G"SI
MB`'$9B$+2>PB&):@A24(/])0GW33,2]U+L!L8ES<`L4Y;W>[WVW+6^S"$B2%
M11YT8(E=E"+4Z*6WG"%!B5O\C1?_AHAPT\"&=DQCZGI'>''#\`UZU%W(`S[T
M%\SP#:ZCDPO0<`<T:@\'8TN:XD1@QCOJ,0VV(Q8.[8#&V,<*5CA,XPU2KSO_
M,_8^C6IH]>]?,<8%7UYZ6LB"%MJ@!;CGC'++>CGFX@W&#H(Q>5K(X!=`EU\P
ME@J4L#&EH&8\!TZVM`LQ,`NVI'*60`G9!@NS\'.>MPL.6`F08`G)!`GG<!'V
MT`Y:D`:D,`TFR''O\&M@!0WT``VHT`9M$&1A(&B\EG"'AGW3`'P;)UQZ!P?)
MY7S(9D@L>`]UYP6.U@:VATYMP`9I<%@9A4X;APUN@`I;9X+/P`S/<'[HQQ7V
M(`PMQ`JSL('!H'B]T`N\X#'O9PG!0'@4^',^YVDL1@L[P`*[<'F6X`*:@'DQ
M!@N0P`(EH'2BH("<QV;TQH"6<`NS8`HQL(&44`K-_Y$'F6`)+2`#E0`+GD!!
M!^4!ZV,1W\`&6@!R)_@-P/=59K!U@=8&)P@-!6<&<(`*+Q@&!&<&9B`-+2B#
M:6"*!R<&9U=V'N<%1NA@1-`.]C`-3'A6:<`,I)`$1#`-[\`%2$@/[7`%%C56
MM_@-6-@,SY"-6+B%9"$,,?`(L%`*D!`,,=`+AR<#,N`"WK9R+&`)N+`+.L`+
M%1@,\4=YN;`+/$`#O9`+]^@"/P<+MU!+,58*,5`"N]"(`"D*L\!EN!2.>20*
MI:!'E!`,+6!3NT`+#$@)#4`),<`"+!`#O]`"BWAGCU!!N[`W%F$/V("%P8`-
MSW""*DB*'>5G+$@/(0B#[?]@D^_@@NWP#=]`A<IG@@=7=VE@@FWP=F^7@UO@
M!6]G>[Q82&L`C5U52+=(#^XP#5<P#?:0!M`0@O>@!8>475N`2%=@>\Z`A=]P
MA<\@<MS(A<_PC:$P"1M8,KVP`[T@`R3#"WA9*>AH";_@`C+0"YTF"\$@`\-`
M`Z#G?SN0"QCY/#^':K84CBO``N$63@R8!TKG";!0"2U``DJGB#*P`N08`^CH
M>C%`"4J7!\^S`KO``<P"6I.0(E:P#1@Q#<P@#7N7C<_0#@6W>])P#]_P!B&'
MF^^`"B&7DRDX#428???P#L?9!M%P#]``!_>@:^U0#^Y!#\^FE0/1?&/%!O2`
M#;S_B'SUL'7M8`@AEVO9YP[,$)87A4B_H)M\UP[,H`5LV99:80_:``F3$)?@
M03\Z$`R]@$(NH`V[L'\NL#-XJ0,NH`/N%PNS,")XF`O!X`)CJ`/IR`+!,&<"
M>$NS4)`QD&VL4)`K4**60)`K(`-T:`DK4`(ANG(NL`LIMP*4T`(MY`&H20D>
M\#><\`J<T`(K8`66\`VUZ05)``U:@(6^EUUS%P;0J'=P5X4Q!`=7V0:^IVO0
M(!##:`9A@`W:F:72@'WW@)OV,)WWT`Y46`]K,&5P`(V\Z`4<QP;@B87UP`S%
M5WO.`&5),'[FL)O(R`9$,`5^AY];80^X,`F5X*,<$`(0_P,)*V`).@"/,:`-
MD;H+)L`">%FANS!YG=8++N`+OE`"\K<+!4JJQ.`+[6AT^F52*2<#)=`"W]:1
MP;`++.`QK"F)>4"0L.H)!5D".@`+D]`"'+DQITFC)8H!H"4*D_`(I9`*XW01
MT^!*0D`$5Z`%+^F$B'64S!">+#AUSME1!V</TO`&9QJ#ORD0"(>$[>!]98H*
MOH>*]X`*T1FE]]!UZ<0&[V!\2QER:\`&[I"-`,9QS.`.TA!M[)0&Q8>%ST`$
M/D"6@TJH66&H5E`*H:"L5B"7E(`!IN`!'-@".R":*^<QL_`+E%EBM^`"+$`#
M+F`"M.!_,J`-*IJ.,O"@-99B\O_F?W1H"NBH>+7:A[]@"BN0`Z8@DG<6`R6Z
M`A'9`BIWHQEK"8[J`:!5L:)`5<]J$=-`5JP$!-)H4:Y$"CE)#V=)#\47E&-Z
MG6P`!_4@#6`0!CG943D(!_GZ!CDY=>'I!=?)KM9Y#\!W3L\8#6GPM]-0I]/@
M#J3P#/=P!88[DQCF2A^7!7NZM8<DJ!#;%88Z"9X`3E/K":4P">(8D1C``BM0
M"59``HM8"I@ID"G'`I'JJJ9@"C&*"RS@`KQ@4P&(7Q9(JX<GDJ:P"ZRY"R30
M'"5@!96P`C&@4BO0`I!``GGTJ"!)"9!0"H]P"XYH!?)%5>%4M17Q#!'62L]U
M2(@4?<3_>`7-8`]/2@1=Z7OTP`;,<`_M>8OM\`M;=XR!Y+[J6Z=EV0YJL+[N
M\+5$8+#;6I["I07NX'O/,`7,``]`P%'9.%QI]T[,``2'U0-E.;E<B`MK-E_N
M50HJ]P*E4`I6$*26X#Q`QZM(.VLAD%-!F@HMVJ"4``N#6&=_DP.3^7F3&0,D
MT`(120*>&;P9:P6A4`H<4`63\`+\V8BE,`N6:&>L``D<``GV%0K@4)M"H%'1
MY;V(U+!`L)M]<`7N%'W,@(57,'Y-6);3,`5KF:3T\`L<%8W/\`Y:D`5;I[7O
MX'MG^EQ9/,<B"`3,4`W,,`4),`59,%$SY`-/Z&#KE$A7T+#>_RNY%)R?%IQC
M[55?X50%'K`"'C"UHE!K$!FU%4M!4ZNCRTL)H8":(6``/HS![>4)'A`"K+QO
ME,#*)(`!E`"10Q(#G,N?%5L)H*7)@;A;JLP!H_!>UXL1[9`&KE3%T`4$WU!]
MW.M<WAN6,X3(0``%5P!/6L#%U1I/UXS(UNICB%11%85(,T11Y%S.X4Q=Q^:]
MX<Q*6-;(6O$-(H7*WR0*CT"\P1S);69?X61G=T95'5P*4YO/[P61HP#0HF`%
M']"(`4U5"RW/UJM>=N;"]N4)1'H1[N`,@"I=S9RUA@"6&]U<[^E<ZZS1/<`&
MV0@/T?C-/3#2WVS.AI4`$#RMON@%1/]`TT20!%!`3U>PTUKP"Y$1.NX<%+<1
M#_;P&9]!#_!0U.C@#987D$[]U+>`"ZW[CZ+@PBXLR4\,R:A<7UO-T*M,L0X=
MUNME5>ZEN57P0A0!#]OP#,T011"\SE8,77'MS!\-SBS]7.'\"^0K@BJ]TB(-
M6(IT!36T2%J@3U^LL-G8=]M@#GW7#OF*U$1]&Y01U#1B)L"C-;%Q)I`Q#_`@
M#_!`#^]`OJ']#J1=VJ8=#N'P#>$`#M_@#:Z-"TW]CZLFSY#,U4]<L8]PR6$]
M7Y\0R:J6RKQ4DAY`FQ?Q#N!`-DYD0_,4S7,-TL<L7<_MU]T;7=-\!4G07!7U
M`_)D!5I@0QW_8`6_(!NK$PP\@B3F70WB`"AMXP[N4!CS@!R4;1.GX1LCDAB=
MTCCB8`YI0@]`G1'V\-^B7=JHS=0!*=$8C-7SQ=6UMMMBC5+T!I";6P5$!526
MX%\7L=K@H`VS2D*4H`4>7LT03-)<&]U^#<[2-5%X[5944%,$Y3YW="GJD"G3
M42'X$RV=41C8H84F,=F4K1B#\R#?`1[IX`[EL">!LR2T$0_]71(`3MJM?0MW
MIM6V/=L,3E6]'0I7GN``&=7>H`W:@-P0DP$=L(&TH`L6;A$@Q8^Z<`O=1@E/
ME$*0TAP>G@4[S<71'.(1C-TB_EP^4$,APR]'A`%8DC-&PC/FO2F:_Z$.[6`8
M_`W?!+(9DYLCT#,M$G`!>2`D^&$,B8$V2$X;]1`/]0`3]O`-I@!:4W[@N^U-
MHZ52G/!:D\`(5?`(E/`+VS#'\'`.O:,:P?!+E3`+_,B/9UX1:?[K_`AN+7M3
MR&Z..[(OJU%33E13L\X,E-`''CY7UE[G4&`$,\0$VBY/U;0!>P(,/O(JF/X<
M[<`.9!,,TC$VZ'TK-V[4\)[4[!%[&&$/XT`G],YAXG`\J\$S/M)&'F"&:`0=
M[F`P?,(][UX8\1#OH)'O*6D/.5(%B="LJ7`+J0#0S9KQ%__/+E4*E:#!HY!'
MCU`%)(]4*4)4";0-COT.V[`-X,`-X$`+N?]P"\0.[!@!4KJ@"S5/[#G?LO'7
M;<@^'2Q>WL)0#60C'39E4^JN[B%$WL[N[,XA``!@'[X0##KP(XVR(RD"'>Q0
M#3LS'<F`/YRB/4<//OK-&31C'@X?$>U3+6OO4=,"`'F@[EB"`9+B`4YT*>3`
M#MK3(M41.3-^].;!*9S1&C92*LRR`;3^#,B>],A^4WG_B"0D1/A!5";/,+]$
M"5\.#IP/#CFO\SNOYL%.$3C_ZS0_\Z&OYCK_^;`-?_1(CU_>\HP?]-.1C:JS
M&N1MANK^"SRRX0&$)>E2'[YP*442/.)P(3IS/-?2'(8N#,D`0NR>&L2_$9*>
M(A"$?G?3[[/J`1+_8"660NB=8A^I\_?34BT]M#W]T1HILHD@"`_/L#*[4/8X
MU0LW]><O/JL_-)&(MX$;6`F64`D`4<G4+(($;^7*I2NA0H0-$<+*=?#6K7#W
M+%[$F%'CQ7>X=$F<&-$APH.R1B8\B5+72EVT7+[$14L;-VW@O&F3^5)F,&&[
MA(E+ETY83P\7"ES8E=2#!Y_PA/H<*BQ9-7%`Q7D@<"'KA0M+ER8%&Q:L5P_"
MX&U$N]%IN:&[EG)-EU;N7+IU[=[%FU?OWK1M?XHC5XWH!0!(E7+P&31J5'%_
MTXG;Q94`@PL9.'@5FUGIU[-\[SE%9XRHAPX2+-$"%],E3IVT8L;,Y9K6_T>%
M$D5&/)C+9$.&*Q'6QBT25T7/%M_IPC419/"0P$FFA+X;^G2$EGBYM;+KES%T
M01LO!FLVW;;%/XUMJRJL;$^HY84]`QHT';MU\-298^\A[EQX_;U'W8PK`;OJ
MK#@##T0P007M$L87MY@:BIR@QBDOF*2$20>>[Z)2YJ_&/.!EF^O:6\P8<<R1
MSQUVWE&G,0OS$(>N_IQZ#,!=K"AJP`LDF(4ZZDR2[CE92LH%HMP48FBAYV91
M;J)W#NP(E^2:I/(CY41B*#>1M/0Q)2ZKLP(2LIB"JJIS`MO&F&?*R?"QJJHR
MYSS1DG)*F&!X<8^QJN1+AQP;,>3SS3S;4BI`KO\TX&H7>A9DM%%''ZT+L@<Q
M*U,<=,9)3QF@G'KSQ/2^VR6==X3I9="AWN23G&?PO)!/-S=T;RQ#N^+*@AZ[
M=(C+6X;D=<M<6%E.)20CLI(5W)0CKK@HJ6R2I-QL"^DY:+.4MB$M/]*-N5QF
MH43,#LAR2[,+]_3NS6VJ4>9<H-294)PT.30OS6<Z;`Q68-C;S"L,OH5PJ!$#
M]*J#7<Z!M&"##TX0GM'&A"0/S7XY5;ZJDNE4G//.D0_3\Q9+4]YDY)PW*E]Z
MPG?,HKR*"IBP8CAYJ0Z<*,5:F6<.KF;;F(2(R8-T?A9)VB3266=5DO6LHU1P
M.3J5B92>DLIC<VGZ:=S_<-D2I(.HCK;F;2,J99(LJK`"1S)WR6-,AW?IY5YQ
MP^*EEU]X>?M.?,G>)8=PDV+9Y!RY$D`"`B00H#`-R"P;[5_`HL1K2IY$N'''
M'Y]+'FTJ>>012,3T0(==="A[S`M]6CNLN+7#\^VP'(ZA84CJUGMOK@`@H``$
M!*C,@]593LK"72Z/)!)%>@P)I"%M?K99JR.:!98F>;[EHRF=5ZZ44FZ9OA3&
ME55%E:25GOX6I94[&A=/EI>H^XB2<_;9F!/*VGSJFP0%%$Y&R4***NZ'1&QP
MQ8H!Q\W%<MCJ-*,_O6V@`QO0`+\P("`!(```#X0@!!$P001(H`-6H`0EUC"*
M_S)P0G[?L`?D1#C"QMDC'+5P!28PX8A$/*(#EL.<5U('0!U8(09@&=$-UU;#
MUBUE7PD<7`<$5(`"1#""`F```1YH01Q`PA*5<(0*,7$)5C")),#;EI:F=T61
M*.]8M_"$%4NA,T_@9B57NT5RDI.*ZGFO%*JXGF?HH3TVLG%Z;$QC*;Z7BN]Y
M[VI;7)IRIH0;0'H/:KE0FI4*Z<'X@4(4H/A$(SG10?IY;1)6T$+^+K>[I/R"
M)W8*G<,TQY2E=*Z'I!&0!"I(000HH`(58((3I""%#GKP$[>\9?Q&`4(2]M*7
M"SJA*X0IS%:T0HJ.<$0E*A$)RL'P<IL,#T]T)RY(I/].<WD(6S9/V8$,<$4"
M?@.G!"8PSAO<P`:*B*(*+T'%2ZR"%:Q8A<[6-Y&8T1,D]9Q(CZ;'I#`J3WJ_
M&N/[D);&*4G)C]*S(QN_`:7L\5&/=IQ%';VGM(AVSXU3LNC1!-F]Y%C4C\DI
M8_1N$;]4B**DCGQD(U7JP5J6P:5EF(04+$F)+%!""U^K0A8PB,%N6>$180/;
M3^\W5*+>SPE,0"H3EK"$)T3!J638!"-5.E5(YA(4HPA'"'^Y5:[BY1VV&*8L
M9"',L;9"F.YL!2NDN$)D0C$2CE!$[QXA"<M5KG*0<.8S\8K7'$`"!SFP*PY:
M6+D;X.`&%C"G#1*;B$8P=HK_4UQ%9(MI5K.V<Q6MN(0C0FI/9KUO:3SKWOCL
MF;PVWG$BJCCM1-DXBED@M!2F:`>4I'$*58Q">K9E(QVEY[U1'-2BIKWC&O?H
M1\X&TH][G*HH3J%<43PRI52%+B0YP8E-U'*2DR2#2[-[W0ZZE+O9!2\9Q+N)
MZIY!O+A$;W15&LFJ1A*.785O?#=B#["2U15CQ>]8A[G?_;)"F.]D!14QL0IU
M.J(1!D;F@9&)3$4THL$&?K"#&S'A**YSG5.TL&57P5\.#W,5[80G)O@9/8I2
M+R*I:"T]NS=&?HX1H:VMGAZ1AK2DT?BVMSU%*19JH'>HXA2G&$5M7VO;VO(Q
M%;9U_Z.,C3S1WJ;Q%`?%(_7PV-'OX:+))W7D<E,!BBVG=+E?=F[\G%O2,(O9
MD>N%9)K1N^9<1M+-N&PO>\_\W$8^LLM496\95+$H^?:YJ^\`1UCO.VC]#EK0
M'"XT?PO-BK2VPIV1A;1E):WA2PPXPQCN<*;[B]D/NV*=P*+>;BMJSSNVL;?<
MDQZ,;^$(A#)"RDEKJ&YO:]M1`#FV!G*'CT>!BC74UK:E0'*M4Y$]*6POR-[+
MPD1PP0D^3E2/H>;$&H$]I5%\KQ123:F='7EG,W.[RZ<H:;A-RMPRJ]?<:H:S
M5:E:YN?2.7[L78,S_#QO7]JC&XHF]'WQ:^@.YU>L_]8WO__YFU9B^I?@E[V$
M*QSM:$^[8L/K//1^$TU,#V,VK52\MA\YT49FNY$3H2X%+H`M/5R8PAG>P`4C
MI`?L6U1[V$;.'KA'/@J:UWS'RD+%*7A=\YH#>PT.I3GU:#[LD0L]R'QT><N!
M?31:WT(5LZBUE#?8;2Y77;EB!O,IJ![N+#,7S.=6+WO;;%6QF]G=53]S_+3^
M[EQR0@KMT"J]Y8XP$PI3$[40:[XG+O&PYEV_?W=%+@3.:,(3<\,/]S1F$\_.
M=K(3K0,WJZ;_BPFU7C;`K*"%]#BAB]NBNK<C/QHC5/&-;W3C'?91QSN\\>M2
M2($61]8>*GSL8R#SG.<W]TP[2''_B@W6O/<T)T4J-GADFNNQVD'68QGJJ/Q3
M6/G(2'^^\3]?"N6;(A4_GK/5N<S'Y9J]SE;?,IFU;-*TAQVZ<A[[F^5<_K0_
MLOON)P4IU'S57]QZ[O>'U#N048M,9`*%^P8\`,PTP3.)P`L\O]NOR',%_UK`
M!L2$84JKR$H\Q+L$BX,X^^JW@1.F_ALPRJN$2:BV&VNY([LM4PBY49"&9VB'
M=%`&8S"&87`!&3@/2B@%E:NYZ],>G;L^5*"Y+*BY,M@@W..+=D"%-WB#-4!"
M'QR%->!!WO,]XML@Z5NMH4L%4R@#(,.%WC.Z4;"RI<O";@D^;;NS5(@_5,`Z
M]W.N]PN__^9:KG(S/S1;/[%+KZHR,_;;LNR[JAB(@350*4K(`V/`OT!TE&V0
MA$R(A/_3.\D;IES`.P*T+P+$.PYC-(5;P&+:L`5,N`J$M,BR-,7#!+/R+Q3Z
M+_^K!5',M$C(@0?$A$SH*UKK+5IS#9-CAG!XAW!0078@!AE@`1(0@0_PQ1*@
M!V=0PJ'[,1_+.9VKN2SP020L@U&PO]PC!23DO0U:@V7<(%)8PB!#PEI3A6:L
M-FJL+560`NWIQEHS02@(1YY3A34HA2R@@CS(@SY0A9P3PSZ0`1G8O3!K-W!3
MKF'SL7YL*#[2Q_5K)'5;K_1CN^2"KC3$NCS`QU/`1DIX@1?(`_]U$,2+1!!X
M\`5#K`5-L(52+$4!%$EAJ@5DT`9;T(9:@$19B,1]@T`/>\F$.[Q*9+1/E*P*
M[$`"RX1@B,1,B(%>Z`5)$,6]JP5)D`17D`1(6($6H`0NI`13(`5I(+UV:`=W
M4`=U,`9E8`=U<($0\,H0((&E)($/2(=O`$$H*(4-^K$W.,8?R\;ZR8(U<*DU
M$,*](,(Q.,(T6`,IB,MM'(4Q6`-L7`,HL*UMY,'!5`5@&X.AVT93$$<.\K4-
MLK(E-+D8<$BZ"3]P8P89<!BMNSJM^[8Q(P4]8(9P(P5@8`9F^`7Y`SN5@DAL
MG#\Y;+-&"K\Z^X1VX[)3T((\,(51R`/_RWP!#XB!<<#(XO2,=;"$2-`$3=`<
M9'#.CW0%D-P[DI0$&4"&7M`!1/0W@:M$A_NO#8.G3%C.3("G3'0T`DNAA;,\
M27`!38C.6F@!'<#.3.`P6[B[5F#%3)"$%HB!%@B&;PB';ZC*>(`'=I`'9=@!
M%RB!$B`!&>C*%=##8+"$"26!`%"&=HC+49@$;_RQ4W@##YW&#8*"N1R#+*A+
MO6@'.!B#%5T#P!Q,)&Q17I."--BUP:2Y4P!,4NA&).S-O^1!58""P'0&5:`$
M9B`%`?V&9W`&`!4&R]0#A_R%.R.%//B%[&$&9Y`].T.%+BLIVMH%&:#'5-`#
M&7"&7WA(E3H[_Y4BA14@@1!X`?F#LSB[)32@JF%;NU'0@E%0J2.#QREE`3W$
M)F&(.^,DU+H@A]YAQ1W0@01U@1WH!5NPD(^TA4EM25?0!!GH!4WPA?V[+\%;
MR0XCN&*BN/TD`1+(@9IL-,5KO``SIE;0!!(0RNC4`1T8STRPA&`02DUP@19P
MSZ)43AUH@1SPA:LDAF'@`04E`1;XRE+UQ0_P`)RXH1Z9A1;X`&)X!U/P02B(
MQ@]=@[5$!3-X`REXT2N02\`\T;QHAS4P@S)(`\`<@R!M41AU47:5@B74R\`$
M0BG`QE%(`QV5!F<@!69X!@&ERA54AW(8AW$XAW>@!V#(@SN(`1G0`__Y^S)2
M<(%?.`5FB%A\3`54^(6/G4<L587-W(6&@@89X(61Q=@ONT.U`P6M8Z]1B($2
MB`$8(($7T%.7U:5:>UF:TP**G=(\B+\[(`$/R-E&TH(7Z)_?I,@\$`8^*]2H
ME8MMZ!WVU`%?V`$92%"@E`$30`;F5%3W'*9>L,[GE-2/K(6/'"N0Y+#(FT2?
M-`$7B`&A5,5,^#!C6L5,>,#^$\\2T`']O$X98,X<V$\3:`%)Z(46<($<H$]4
MC`3^S(%%+=41(($1*`%?)('4L81>&$L2F`U):-,8L`1;H%9>2`=3(,SZ:<8Q
M*$(C1(,C'$PH$-<5'8.W.Y!T-0/:?=<T@(+_(`7,()6"$9577D-"-G`&:9B&
M9YB&:7B'YG6'=J`'>"@'%QR&8:@!%W`!%F"!1B4&/8R!B9P$T.2R7XA!51A3
M75S-B&4!,M6#88`;7I`!8%`9:3#37S`%8!C2@"6%U?RRCZ4$U@2%7Z#9^)O9
M_Z6$7Q#:4>B#[XT!FXI8"!T%4MA>%L@#2H#0%;""@CP#3LB"%7@!'(%0*Q!4
MJ25AM"!$2,B!^)3/7<!:K.T%%P!*%ZB!$MB_M74!'4"&'7!.7O`%7]"!9`!*
M2;W.7I@%A5-`2A0F2]A59.B_HI2$8"#<3]2$76@!&<@!L)7/7>6%%LA43-4!
M6%T!%F@!#4C<'-``_T7`!,<EXQ0&RQ:(3TCHA14(@15`AI4(AE+=A8C(@6:-
M`5K88QE(!U*H'^%=@]<%US<H@S<P@]CM7=J%@G/%BW9X@Q7-W=YM9!8-3#9@
M!F]PAF=0WF_0`FBHRNAEEW&XRA?D`:W5Q04=2Z\LU1`0@1"@61M2VJ/-S3S0
M`V>0@:2(WQC0`_@E35UTVGN$7V`P7QE031GXA<V\1PK6N3S0WC\%S1@0`4J(
MGSPH@0I>WQ4XX!58@>RE!"M@@1=@`6[.`Q(`!CV(@3Y8`1G`8%LZ@W@N`P96
M6@QVAGHHX7S&"$+L3QV0A,B=5>SLA6!P@1SV!5XHZ).T!60H:+*]3A-(4/^(
M=E!DL(4OQ=Y@T#2SLH06*(%>H$^X5=`6L(1:^.*09LX2X&(=B$$7L`1-B`'Y
MA%4->&DNU@`S5H1+4(0<2&$=,&,N=@F&"`8VY=59B($/(`%+0`C.Q=Q>*&H9
M:`=*@`(@&`4HT$LS,&0T:(/<7='@A0)'AN2[D.0P&`,O6%$B:%<B`,PKH$IX
MB`<"M4IV@(=VL(]AR-KLU5X%%8&\_H!E7<HJ'NA@T`$Y_EELPH`L:*_X@T<S
M909[]`48^%AE_@46X`5G8(89J`%E5@53N$=GT`,78`9>6%_0C@%2V(4_U0,6
MT`.M0X699<W(IE+MC0%F@.9=T(,5.!P*SH,5^$W_$B!MBFS3%=""JCH#4%@#
M*VB!%_!@+:""J!Q4?2;A;=#/'#``G2;<E.9:A^8%';Y'9-`!ZUQ46[A'K#6!
M9#A6YW2!'H9A?CMB62T!$\@!6_#)$MB%'?!;3=A>@N;5+Z;5'"`!$Y"!_GMI
MT)6$FLZ!%=CI%HB$2X@$$H#<2,"!%>B%),F%BN9%':`%:B4!3=@-2RAP`V#6
M86@'+>#+WFU110;7-LA+WH4"M"9K(GCDVVT#+R!K+T!K(D#K,2`":,!%!]7>
M4BW582"&KES6L33JE_YB$NB%V5@)9-@%6VB(H,XI*\@"+>"$>(ZD&`CCWX2!
MTB8;%O@%=3:%,=W2/B@!_QJ@@5\(8,?>S%R.6-6$`5Y@9M5T`5YX)%6866E0
M+BZ/;'PDA8B=4MNV`N"VX-]<@3__A7;^!3VU)5#H8`SV@"J8+E!0A>9V[JCE
MADS`STCX9YU&<,5585J-S^64!(;N!5)'!A,H]>_N;F3HVNNE`600M+VSA1?N
M:%9W@5DW`?ET;TU07.9D@4I@!1VPW!60!$PP<A+@[L@U`$TP`09/<$7`@;=2
M(1P8RSY&").P!1TP:FW`<%H0JX;HR"_^@!90AV?H72)8`[0V@W4?`SCX!GK0
MO15?\3'H@BZ`@F<<PC0``R_H`AD?@AKW@C5H!V)XY3;U<1)84!'@S]5!7([6
M`?]MT`5P:`$D5PB3H(4;<@A+J`(MH').N*4S^`0T"/07D,AR!FXK:%`(7=,\
M^#%=1%\Q]?+(W@52N,?]C7G4-H721G-06.T2*$U4T`.?=VV(7$J-Y>9`UP*D
M]P`W]6`__-/@EC,\548K&`5<D@9*KW1"Y8::/*9(>`16Y$^?G-M@);!5`-V'
M1H9@\%KVS-1&96C_=E13C/5A2EM?J&_LQ77Y[.A@<.-,Z'M,^&(LCX''S0'.
M94Y_U@#]C('$OS`,NX0;Z-Q>N':$N'#/U782"(9K!Y+8@`2O!/$KD`(77U$O
M4&0XB*UYJ`<,)8(AD'$9)X)M@/%^]W<O@((@0&LV:`?_'E@!S5D=^0R&.`;+
M7@"'AK`%:O9/7;"$L5P!32#^B4\27?!!#R*#>`;Y3YB?#<(`"*5R+?!F%K""
ME0>%-5UG#"8%Y/9#$?@%+?C347#G/J"$$M!M[?V%2/+-S&V8I?SS/KBJ%:!9
M9=4"#@"(%5H\H,A29<4*%B]&:<F3AQ2HB)]`32PCI4H9-!.EV;OG\2/(D")'
MDBQI\B3*E"I7LEP)CE6K2S(O8:*)"5,D19@D28J4(]*E53M):-+10E(.$DA9
M\#210U,+$SIZ:<+4RM4J5S!9"6VUDV<+$E--N.@5PX2D7B-<N"C10I.&%HH<
M:3`@J85=#3GN:I*D*5.D3$5S_SB:67/5)1PD/HC5I"L7Y%R22"#;]>&#CLBR
M--/R\$%&.S8_H$#Q,L:,F3;3Z"T;IHP>,R)#AHSI,@1*NY8CVZ7YTN6W%]E$
MO`1A`V]8"VV/:>VBE4L7U`\KG$.VM)A$#.:70UC*M3E7C!#4GV>)2/'3)O1G
MT'\:M<)*&4Z?.&7)0FG-*"MK.*VQ8F72'3%0$L,+;%@1`B5:H&"%>RMD,<D+
M)*P@@H-GG$'?"R&$@)`6^0G$"2<QK/!"#!QH884'69P8GQ8BZ@?***.89QX:
M%)7!B'SS>=.1;CWZ^".000KY$3>8N.+53(;51!--CBR)B2(Y9()4)CGD4`DD
M+41R%_]A24F8PY)))IF)!B28>10D9IJ9@R*5F!E#"QI$H@$.CC2"`YN1X%!)
M3IADX@HF6;6220LK2"(FDXHQQDLPXT&V2R^]7$:4=Y7*LIDD'[A0#BE`0$&;
M%V&8`8T[QK3E@C'.7!'$$+]M0<0W0K;3QA9>U,JJ;$&,H48[QJP`"62V>)!#
M+9#U4@()NU1*BYF,!6/99<I&IH,(P4`FBRZ44&3A&9ND]PFXGTP2P22@K)<>
M11%Q`@H:('*"QBCE3A+C)%F,TM]^6G18!B56Z,'""FM\HA$H63ADA1;OYC<*
M&9^L\>`:D\171AF;Q)>%%2M@P"`HIW1\"L@@Q\@)*:2<,DK_*:9(`P\]\=@3
MSSWP?"3/D#7;?+.0,L.S\\XQPS-/.+;80HLFM61B]"Q&U\)*)JS<]/1-73V=
MR4V94(W3U9!8&4F8B-)TEPXZ1.)(4BWL51A.DO#IY%R--.)(86XGN4HK5P&:
MR52%S2T4#@8P%NDNCT6FRRXZ+":=)<YM]ATMC"GC#!1!E-;%&V-$HTY;*Y0P
MS#.RM;K%$$3D%B1O7]2ZQ19=!!&$K41,PXX,,4P[G7=0A:#L9K2T`,(')?02
MS&4?!/Z=)"%($EDP>3B3RKK@=AMNC:-P0H:YGW`[\'K.6V\AN]MO<@8HWW]2
M,;S^96B%?)LT;'V.W%Y/_;L@2H^*_RDE[[(#+[P`XXPSPCSS_S:V80YTK*,=
M[W@'/>I!#WK8HX$X>R`$<<8SG:4C'>*X(`:%(0QQ;!"#%4S'!.]!,WG,0QX.
M#`F/&MC``X;C'>'H1C>XP0VAT<)H?\J$4,34-<,@ZB8RP429)-$(KR5IB$8D
MHBN.=*15,!$Q2<*$(QZ!@>#I(!@KZ$5DO$.+&)3@,BN0D`XL,8ME!8`%U?@%
M$(B0!39,HQW8<`<Q8A`,;NB`!M6``A%2MX4@B$Y6:4`=ZH;`1SZ^BA3UB"-U
MTJ2)8.VN!=?210L^`(+;(2-X,;!%9#1!@N[H0G<[V,8S2!&CBH%B?>'*'AG6
MEZYP:<]ZK/\$%QDLU+#L90$A*_#`?IZGR_6`(CZ<B-$H2$$)83[""I!XQCO2
M\0P-`D.#RS3&!<M1C@I.<![SB"`VL]DCGE7P@L+8Q2Z$@0YX6%"#YM0@-,7Q
M01#N[&7WX)'-.J+"`[KPA3*T156>AB@G$I%06N*AUX9X";G);297806@$LI$
MF<#-$9&`A`<P,(++Z``981G/9GIQ.&3H(`0?"$$+NI,+2WR`!>IP!C.>T0YW
M>,0>\-B!#G2ABUZXH!JK`B0?1P<DWFS!=*A;W>JXL`4QT,,8V8',9*R5"]U]
MH`6"TP6U/B`"'6C#H]+!)&2VB$E=6"(&N]B&,KY)"4K,2WKK`A__*]WWRF^]
MDI7?.Y?U8'0B!HG/0MHCPR]+QK]=>,`#NVAF7ST@#':\(ZR],*<QMM%!=*2C
M'>QHQ\[B(0]ZO%.;)M&996]&3G6FXYM]#:<P/BN,G6D0M!M,QC,\2,X)R@QF
MF6WI"NU)"ZK]D(A/Y-,.Q230W1YQ)HA)XI&,Q+1*)`(''?``)(SI@<.UP*(?
M.&IDF!H";5@G>"T8(R0^XXYWN*.UQC`&.]0A@UX\QA(R,,9-?PHK/_ITCZL3
M9.J(4-064,<ZG`S&=73Q'<N$0`3)60'O*+496U#U,9VDA2[`$8QG06(75OC%
M,$4Y,G=Q`GP:8:4I)Z)A[[EO/>W2B"S9_Y,>^DR"$K_X16D]<`$)^-6S?@4A
M!X'A"PTF0QC54`9GJ=G.UZ:$G!7D\38Y>$[/7@``D&!4#/HJ#!@/V<;)P/$'
MWZ&.GE46R"*QQP&U05O$\-.V7AXH08_H-H%BHA9FI@4MM*$-9`0#HAWH0`X@
M(49+1+*IR(C!1Z4U+8_6<!=6]<!2-?"!8=PC'NHPQ@YDP(+-+<,%UM)%,&30
MN2#@M(^D^R-.@;JZ/?8JI)#11'-R8=&)AD!P(PT!""BDC3IO<G`Q@&X6.VD)
M2S3XKZ`],82%"<P)@T(^\BG#*BF2GC,T+,/@8NNW+E0%!%P@!L*8,9$!X%=P
M?E89Y!1&,!!;X_]MY#@=[&!MS%IJY8_`0QQ\3<>X50*/75S@`H+]YC<SP`!I
M[^(7?/6K.*YMVB=WL(+J@.P$ZR$SFJ7;(_`0!B0>H;<O,YRW8QZS(B+N%QBN
M`QW<)D=IW_P(6N`",E"5Y`J"H0-)DD"ICYIH=V:1E!4D+@<A*`$QC"&#%?17
M!"4H`:ID@(SG[$(&P"#"IO=HZ9W^T:>:WG00L'$.3^=B%KW`9%=+P+OQ-$X$
M(J#,R/-\K5SX6:F;,?5S<$$+4YABP68'!CC_:LYG!.,9$!XK*>I7/PD#\Y=U
MEQ&%\SX)2+3[`BC^A2_X6F1WNUBPR=0@+]:.8W&<XX-";O*0+_@,97#_VYM+
MEIG-RBWX710<)>8N<HO#*7@`7&`7O+AW.*\]Y&HDXX+K#"OD(R^.;23V@HHU
MQC@U:VX.7"`15+L:W*#F)S]5PA'%CT0EDA^)2#RB^3?`@7'?G`$-:*"OO4@&
M.RT>0#738HQ9K,YU@J%1+W9G,]6-Z2ULP=%@A&<[P9-0"WJA:&+((!@RU<$P
MF`%4]>KT1SS-M*;MT31@CK7(`BWH@"3(U`%VD4CE@BUXE,WU@I]Y5&9$1O%@
MT?=EH,<=6)HY@]EE&S(,63`TDS.!TC(%`ZX%`S,$@S,\0PNZX()!F`RBV#>!
MDSF!T^!-&XIX`"^`D`9E&XUUT#2EPRYD0+M-_UO:[1OK)58ZN=@N8%[.=%9@
M>4#GG40YE!9H)=[H78`54)N2I8,Z:!"T"4-8N9X%L=L1)J$-:A`'*<,S))8R
M5(,P["#G#8E+F8,OY("*04(P;,,'_J'96<(N-!@D%&+::<T43N&;'=<N!(,V
MA`,D@@,XR!389:#NF(DE:`*`709T55<+B%S8&,#A!,\'&$#8-`HW'`LQ[(#]
M;1$Q:$'0"5W_^0A/&=W1[1$SB!>P0`:<4(<F"L_@D(#5W4XP6)4C108RA$`.
M@%TE:N!S/$<MH!F:J9DV>*#9^0]8U1BV)1X0GM/C`<,(]H(O9%LSA1/N/9Z*
MT9L7[D(ZO`,')9X&W?\8MZ4#.@A#WQUA8'D5.,G8+@2>O0&#!-Z;!XC#C^S,
M.XQ#BO65NU6A20@9:-D>D1$`$O;5+S`9#0J#8GD0&N)C8"4A0`)D(_+"+TB@
M#@06NOG(SI23BQEA.,DAMJ%=O95C#:KA(297(29<PB5?\IG"+(P1)7I<!MX"
M9`@E47)42''5"I"<#J#9+ES'*)+B`%S&`$#"%F7'3,'<>(D:JJQ*T.64'P'2
M3P7@%K"!.\A`!=:"#M#.<^Q.9GP=S8%`LN"7%YD:+8`45GG<+1#E4#HC7PX.
M)<H4.(B=-$HC-1:F-FB",R!#V='"LX!3%Y)@!J$3%NX".;A#9P%AC1E#!XW_
M`U]-)J,T66J)PQ`V%D+.)!2.A,ZDI.4)`]KU%>_=8QTRY$B8@S#\@@?D@0VF
MT^.%%=KIP`:5V[-)IAN*@SF8VRXD`U^!DR^0X#FETSCXFTIVYFF*1&INUN.Y
MF`9<P`;T'250HS-T("THIIHY@S:@F2EH0BD,)IKU9$_FY2W,@E#F0GP"Y3,:
MV%[&9UYZ'#C90B?M`"F&Q5,&P$=)AP>DQ67D`)HM!GUIPN;P`'G)7S4D02QZ
M)>FH04^%90`6ASOP0@SH%]=1"F10"WWMV=\4#PA,$MBEY?%`!B[D)U'JY5XZ
M8S/VY>#$F@8:&"%.8=II4`4Q%CJ,@SIQ$Y!BD&*9_Y-@Z5M([J@&X1@YK),X
MA%4PG%XX.6ED-EG:?98>>H`$M%MV$H`PR"9)$.$NY$%@=:$-BD.3TB,YH"D[
M=1,&S=X-QL`S`.<WV5M`FM,%,9;CW2`X==N;LN&07:E?*>2*78`12L`LV.?W
MS6@&7LIWW,)W1`8K9*!,U2=>OJA[+M4*Q$`O0$(,/"4I,H:$>%4,%,U2A8`!
M=`=)\4XO($.#!HX.[,"D41H@7<$L]@@]J(%0`2"E4=H5N,,P0-=D8"!4F<EX
M6$<)Q(`VA(>&Q-0&(H,+Q"4MN">URN>+#B6,.F-\,BJ-:N`L)%<B(I<^"NH:
MZNF0BL,XF(,%K1.[%J<X)/^#2Q:IMBV3E0JJBJE8&O+IE1XA1'F`+X!I293#
M+\3`#@96#N!F$GX6:#D>!HT#.8QF!37>!YVK_QB#-GICDVFA%WI`]=UCBTVF
M%[H;F79`)6C@?#HC+`2E?*[L&.%G?CZ5I:XLM>:E*1@.[X3J!TR4FIA)HT3&
MJ_6L`5Q7H)$`2.T`S/&`#G`#"^1?$/0`K>Z1K<H*&PB54!W=II'E#M"7^3&=
M+402=E`'X2BK-BQ&LUJ"^.T"G)`:"4!"BU(K?,)G?K8HRT;&MN9GC-;H?:HL
M?M+M+93").S=#G9AOR;BCHXC31ZN2`8>O!WN(8)3#&3I%-XCZ0$``9`>/J(M
MBC3_HKU!PB]8PM]JPSL`;$E4PQU0P1UXP`[B9DF&ZXZ").,FH>**'DS2),(Z
M;L'V50?<XP4@``),;AKRE15X%=HYA$.4+B6<[,IJ:_+F;<K*9\K.;/,*I:(^
MQLRZ+218%2F&``FT@`[L0B8&0U@L4J5TU-KJC@:,D0$*HHB\JC:P@#'H7]`1
M1]0&B3M,K:UP`1=(CB$P`QOP;RZZ@%-M!JAME4:%``ML;^)`&CA%D@'C'"_X
MP@ZP@`A(4O!802JH@GO"+7S*9\MF:J9::]YBZ]R*\-W:K<S"`@J+@B=X`B-,
M0A7<Y.TBH92.Z>O6L$"&JP=T``=T``8$UFNN&``(@!`#_P`1%S'O2H`$;$`5
M4((EH(PGB`(4WT(XB.Y(N(,?R($<Q$$<1$`$<``'W&;P%NRX)J&9FIX-JR$.
M!U8'="SN8D#?%3$<PS$",``=;P`'%.\='$$1%,$18($J@#!DM*RUXJ<L7"M1
MCA$LS`(LO&<NI.S;NN@SMFC'M>TLE`+<ID(I6(&::(@D314MW&5U09<L7*]T
M6%$+%,MW=-(NX)P,[``RN&]L"))0$<<4W*INT,/4XB\7"$$:3(,"+9`[T`,[
MN,!2SH(MB-^"I24)R$"C2<BFML"B#>@$PYRI$"VRK$`+M$`>8'`J].U[ED)>
MPJTW6RM\ZD)>=ERU?G#3L6Q>/O\&?**S!^<G"J/P+<`"%#^Q)Y0")Y0"(_CM
M6%$"#-LD.%WDZ^)F'N0`P:YN#$]AEG:`$0*Q!/`N`B`Q!4B`!30!(V3T"C^Q
M*(0"%'\T+H0N%7^$%<L!'9AT%FLQ'Q=!!!Q!!)3N'>0!%>3!'1-O[>KKZZ*N
M#H0QZJ9QY+8;`PC`O`TU`"S``C#``D#``D3``T1`'!3!`^QQ$3SU$6B!W<(M
M!_,M.U]KRI9"TS%R>[[G(K?S+>!"BYJS>X(S)O=M*5""]R8ST5*(R>5"FC"&
MXHR4F>B`!FP(+2Q.*K?`S;F`HAG#-`!=$`B!%^SR_`*).QA"8MM*$CQ#H<6#
MP+76#FS_+T+L+*JYP#+,@SH0PS`,`S'P0`D,HX9X%`G<7`DT8GG:@C98<"JL
M=2F`,RYP0EKG92FPPFT?LE#"+5IC]3CG`CC'IU<3MSS/,W+7,W*+@CW;,Q2#
MPD:/0B7\+757=Q54P2-@-R0`-'??I'=;079?MWA7@1.0MQ.<]WEG-",LPB9P
MPD=_='._PG*_0D>+0DB/=*%10Q;;@1W407_S-QW8@18/.%07>`2P-!>W-`<<
M`0>8;NDV^`M8P0O8-(4[1`S(=`Q0@1=KN(9S,00X`%(;M5$[P`.0>%0/.(JG
M^%0_]0.0PGO:[7";LR`/=],5MW!G<%YZ0E["@H[#K22[9RJT_^TMI$(E8S(F
M=V=DV(*??51V$,]UE%\N:`(&?&)2KJVE1(8OW%SW;DZ$`AW^"@$1U+*0X#(1
MX"\1D*4Q(,NIQ,,XN,!E\([-G>@(E$`KRX`+\(`ZW(,R2/"OG!XR2`(7G6C(
M;9TN/$(I&/EL]VV/'_HWXS8C.SINO_.+6^MP-SIN#W*EWX(G)/<BIRP]S[-R
M(W=SIS`LA()SOS>JAX(GJ'HG>$(GB,(F=,(GK+I[X[-'OW<HY+JNYSI]PX)\
MB[JH,[='F[I'>X-(`VP]Z'<<^+=_\S=_R\$<T$&T"W@=9'%*QP$=8+N*0_4#
M1'6W?SNXA[NXA_L>1S54/_6*ISB*H_^TM&<[@6OQ$1QO.+NH.&=ZI5?RBX.S
MOFOZV^I[VYHU+G3S!<\VP6-R?FB`R>E"^XVH`)/M+AJ@!E!E4DJ'*62@124M
M.,2`#-A4#Q`!8H/Y8O](8R>!&'A!$C"#J6CO:1,#,>QL:KN`"`!P#'3OIY+`
M,<R##&"')82M<S"'4YI:MJ`,)A,\T??M6E=R*;3H6D=Z-ZMUV]H[CN^VHS-W
MJ%<]J`,[UF?]<J<Z%)LZ<W=]J7=TJ8^]UZ-ZL&M]L/>Z**3"CHAN-?!!'-A!
MN_-WLP<X@$^[W=N]LP<X'02X'%2[@*O[MDOU4Q>^X!^^MF<['?AW@$=[M*O[
MBA?!':@"U$?_?2[H>%K?^'"S0BF(PBSH^-`;_2U@,#>/_I`3/<'GAUADT2Z(
M@/9275*"`.XT'57.@F=\5/QY'V18U*/I@`R(PQ4(`6)S`1$0`178<DO0@R$,
M!Q=$]C"$@`Z\&IS<N5A(`OB6``N$@",^([2&@#&HPX8\6ECL0K%\Z&7L7&28
MPBBDPBB<0BF@C#ZSM;[/=C<+/6YWL]'#+:._9VWGNSB/`D#<NH7KUJA;LTK=
M@K50X2U9L!3F@KAP(D6&$&4YC`@KET*+'S^*@A5JH4B1L$29#"5JY2N2KT#&
M##ER9$I1IL+9N[>39T^?/X$&%=K3W1XY=NC,L;.4:5*D=N(@G4,'_RI3JU>O
MUHFC-4Y7KU_!A@6;(@[9K4OI=-4ZM2J=.G+2>BU2A(\?+:0$&IQU*U7"O`=+
M!;X5V"\GP8P0SN)TRY-@3KA2I<)U"K*JOJ5&84XU:A2D%2MRA<X5#`0($I9"
MRZK5XL,'#[I"UX)DB5:.UB0PD-"@`W4N;3%0Z]JUX]D5($*(B!%B9$J[H<]Y
MNC.4)(D8-<]DY-#6"QDM'2QVM-`46A*)$B5TT!*]*T2)8\-"Z("=:\6'&.IS
MT8H1(D2PU+E4&>64S3+CK*_,"(R,,%P"&P6RP%+A"T+(-A/H,KX*BG`P3O8:
MC)*$%GH((HDJLL@CCR1JB*.*4BS)19-0>O^1I!E%>84EE&RT*2603CJ11[Y,
M*J4*2][1";HCD03*'3_@JL,./M!R\JFEHH)+JK2FQ.JJJ.**HTNQP)2KJR+`
M6DJIKJBD:HZHV.Q*#CGNH*8:/_J8Q*^",!0L(8,N2ZB45!QAT!13&"2,L,@L
MLRR51/]D!#/.1N&$DA5(F"^7740PK1?1<HFAM19FD24TSRR!I+48>B'A@Q!6
M&"^8%I#)19<6>"G.AR2$H(X(*MQ)4BAZIDO""S6*$<^4%B#1!1(29"`!/TM(
M8,&%TT0+)@09U)&A!/]"TX%5_$8C(81=+"WH%,X>3?=1!C-+B)-1)$O%,,G>
MC?#`"`-;+,)W![K_10H-1<F"$DH\H@A`7$`2*":%,GIHHQ8M.NDC&VF*<4>3
M6$JII1LE-M'$@9QQYA93K"@EXTFL>,9(7UF&#AL\CK*#FIG]\`.1NJ"DXTVT
MVM+29ZJ^XLK+,(D6BZJCT=2Y*:BTTLJ/F:NIII@^F"'H7\E*>2R56:00*#!&
M)!S%&6^T^::==[[Q)C`I%/LS0%42/27`S4@991)()6TAA/ELB:&T#W9)31?;
M/EA!/5$A"2&&Q6/P0!,/;K-$%QW0XV:;%HAI!@@@B-#5""K>:?DG>OJ@+HD^
M?$D/VE:#.8_:7/HN`;Y-0PN&!!>4<<%P42_]@%I1=?$T!EUXE_>4-4Z1_X(S
M1@IL%]U2E-^3,\C>_1.S4THIM(P'F9>P#%4&TVP22DP1*".(3-E%X8$($FA]
MBE3<J"&'9\(XQAA)JO'&_"VV"27W+02+R`PD&,#(`R]^L8(2D"\&)1-)*2;A
M@72(CH)!J08U^%`'0%`C&U%SA]2RP0>E4`,1=E"*"=GD,Q6V20YN&EI8R%2T
M&,;A*#&3`Q]PZ(<4'F4K;@)&U*H!C&8T(PNSV%JD!B.O[`4F"[=012F<\0QZ
MT$,=51S&#L:!C@^E"UZ1D=N`3G$N2$&J#(:)P0I@0PM,@>`#(!@>[Y95N-[(
MPA(A:$VI0$6+%82@!;3@QGE*T((2\*`:;#`"Y_],9P0K]*J".Z''+Y1`'2WP
M(G":(`$)>E''0-(N%\OB`0GD$QI:1(L8N@.7[5X7&O;T432P`,4:1@'+6$9J
MC.B"5(/@Q<5TX0)2D2G09C!C/6`&)@\Z^(4I@M$^6ASS1+O8A2I,\0N1781A
M#EG11LY'D9-LDR(VXDMD4"**/Z7")@<R163&1XE?X,(9TDP%)`B6BCRPH`0N
MV(4,7/"+6U`B!NI#22D\8(QX-)*@[CB'-9Y4#6N<(VHS<\<AG$0-=T#)#]C(
M!@:IHL*KQ*5+7_K*FX0F%C+-L"M\J`8@GM+0B5J)2W9PT@WEQ%!J/(,9^>H+
M@1B$"S:,[1NF>$8[U$'_C!VXP`4E4!7NMF$WPZ`KC*H(XRE0(<8U9"&695A#
M&4H!B<#E9Q<MR-0'6"DJVZT*-:*"U@<,0`M)@"H7EN@G,KYS1:*JHSA`,((1
M$DD%>!#T'O7X!1:HTP=*YD>!.D"&'5'UK&BA9S[:4&`I6V`+T5CR`YP,E^%$
MDPHTO`&64QU%%J@Z2U.L09:J@$)FQ%B@ZJ5"C(OB#%8S4Z_,2.&)F*E"#':P
MB\6U,QB[X`5!(.(,%NS"&;M@`3,*!I&&G.A\"IO)_6!D"DKD(0^[B`P_&VB)
MOLSS,Y!0A0))L()@_((%,HAF#,KW"UZ`)WTR($CZ8I"*DE@A!NS@:P7548U#
M_\P!$>UP1WZI`8BHU:$N%[UA-NIQCR4]14H:I1)4V)26+\&4&DPBJ5@>4)8X
M\.&#&939DDY*PSI,90Y\"'!2Y/1!.3'C"D\TQ2C80#9O;*,=[8#'.]P!#WD8
MHUFMN8VX?&&.49A""G<;Q?>:^H:H0DH*4B#M5;%JB5#*BA8L:,WN1*FJ$$`B
M-;/8(Y<M(5Y::",8BY-=/-2A#'6THP]WM2MU[FJ%O1*T'L#`@A*NT`=@;(H6
M+7`!K5JC@UV,)S^"#*1D91$\$0QC6OB1A1X_H`-.C?)U&2E#&=YPZ34X>110
MD.48F"S+S@:(M(\*K2HZ^RC.!.C(?^+,&J0;`QGL8/\'O,CM/6D0#(&8@A<R
M^$4P\`E`;%HS1><3$8]*`A-1..,%]#0J@V)0`GJNX$,Q$`$+5I`'50@R!GD8
M5`N&ZPQJIZ04BQN9KYV1/EY`PB:3V,4$[]NR>ESPP.XP:#6P48UL/,W>V7"I
M1*MA;RAE1:->@O!7#BZ'0_1J'M5HH4B+8)8XS$4.`>?#48KA#FKHP0]WX/<A
M^(!@=QS%I/^-VC.<$8YO;,-L](`'/=QAC%X3=0?$V".E=``)2/2"-3MX!RE"
M"\NHPN$42I;J**20!2=?N@R>"/-656G'5'JY-3FH12YD,8L80&(6;5V!#C1P
M21&40`;QJ'&-69R$N^(5"Y__RP,]^$H/8%"!"GD>K-:)2@(1B$`'@N:=M_B(
MG^"%@`>-%HTM6-,"2^FQ!)P411G,H&E/E\'3HQ@#:9&N/,XXF=1EX`PJ/"VW
M6<X6Z2^V!!1(X8VQ9<$4WNBI![I]SV`@@Q<U8$'Y;K$+'LA`&$/59SNEB0OA
M>Z-]`A&^L#W2L?N9(MKV_$4>H,V"7^RB!.B-P7#/*<\5_,)Z,9B!#("]"Y:$
M8E+GC'8+*`$)7L2@%",I!26<$V^6U<,:3/*#O=W1#(9>L!KU\+\?GN2#,JX:
M]L`/%`I*`,$/^*`0<.A)K&(.WF1H#LXK*D[!-*Z%,%`NX.3BWH0//*[_GL8:
M`.[^_WXH'NIAW_"/#[I"HF0*&][A'>`AS61N!X9!6T3`CEHC!$@@!I!A%WJ!
M%J[.5+#%%+*@%$XKEI3L#<+H#3BKTS8M"\I@#*+0Z58@LGAGK$@@&'BG%CPE
M!#R@RW8A&-2(->Q(!&Z'&-1A&M@`"[1`#:X@":9@[:B@[:@@#^:LD>IL#JE`
MSP*'"WF@E%R`!?JN!43CK%IE/=K#J+BE6\#J</*#!$9`TD+C\<Q`"L>@R:!`
M>2XOEBIO#2K/\D@+%3+O45!O%+R!#8#N&U1Q&[;!WN#!'=@AQ^CA'9Q!JQAG
M9'S+O4;&UGB!%[6AUUA`^H!M]]R+G>X)&&@!%Z2AMYQ!OO^TZ7YN@;S0ZQ9$
M@1I3X8Q,(<S0*P]*X)C."1($<6!N(0]DH!S7CYQ"H1)B@!)$(7%B8!2L@`10
MP`I6(A4F81OD;_XF*@XD*K^:X8/:(>"H(;^@I/_\;Z(DRO^H8>'LS1JR`?\$
M,N2N@0_BXN"J@L/N@4G>9"`#KAKXH`CNP"!![!7=`1CF[;]*S@_FS20[DO\`
M(0X>@,.BYH=X[#QR$`=)H`7ZB0QWP1;T0W$D9Q<^P`72X1NR``HF80W&0!25
M\`TVBPG+(`V:;`RD$`K&P!/Z#+-$20?V".K:*KPLP2<MH:O$955R4@;&01WB
M@1ZF`0NP0`RP(`W<\JZ.@`/T,`+_\B#!"$KN[F`.^;!;=B"HAF$%=(L$)*O0
MS'`1)0$'6Z`7+"5QG$4TD*$^WB@71`$-J+(J+]$J+\W32"L32<').&VJ4-$9
MI($43%,5V\$<:@P>TF$<QL$8B($8>*`&S-$8A(%D\F`%%D>ZG$E]<J_7AJ'7
MPE`&;(WW\$D&RLL;@"TY@\$99*`&7$`&G$$F!"C:?N&Z@B$5F"^?C"L/2H'Z
ML,W;?@&05L`4/(,77(`'V(\E1L$#("$5*($#*,$3JH`WK<`F1B$<\M%7/@@/
MXL"#@$%.HD8=EL0=$,%)W*$>Z"$>*@S_[F%F^DKC>N6#^F]FZ,^EN`(I$$X=
M[D$=-)(:__HJP1R.&NK!'4SP$(K!_X*H'N"A'JBA#B3J_H+H0(%H0,GD#DJ2
M&H#!#UA`!\-+)UF#!':!%G1!/PI'/2QA`%I#`VC!$CZ`!<J!&29!-*_J*9D0
M*J,0"KC4*L<`"K`R!D@@5D1#&W9A!22!4[2A!4#)`\).7*)%!HA!S=BA'<[A
M&2@!"ZY`">[,+;&`"J;@"*9`#SG`#N,.&.[@"*C@#BCIZG;!!6J22,64T(('
M!$H@36N'!$"@/WX0ZW*A%W1P$6T'!"(K-%*A$C.S2X_2*F$)M%#3&=B`&9P!
MZ)AA&L[&Y>`A5^$A-F63-HF*GO@C!S]@[%8`@G1K-R$A#R!AZ_\$*!>-$SEY
MP1ER2QM<@!>$H1RA<P=ZKP:$00_`;QBD+[DL@OE*0&2,Z_9,00:NK;S,]=JR
M3;K&T[H2Z!=B0'=(@252P0.L8#-6`)ZLP`HHH0HRIA3XLS^11./VH`AFYAP,
ML!@\R(,RR`_NX8)@M/_6LA[N;V*?1L$\LO\"#F/M@(<@K"WDP$05#`"MX4.K
MX44YK,XNU"2+(F/O`1A*=J)4;$GRJQK.@:%@4@[VK>-40'%V@3:`,!@HI8]T
MH3P^@,O:"@-\C#M\IQR<81288/*@X!3:@`G'X`W,`#,]D4NI$@J>@!,Z:<O^
M8W)@Y4E+14Q7I37*BP>,H1QR]4Z9(0__K(`*E*#N_)00TH#NZG)0Z0XO];*1
MX@$87J`O\Z`8TJ.37&`'2L`,G<DQ"]%2H6Z43,,6@J$WOG($:&=R2B.L1&$,
M*M$+OI0(K)((+H\-?LJ_W.$=TL'>VN$;8M`8AJ$&R[$<G:T]^$,'/X,WG8DK
M0Z`!/$$4@.E?_W4=Q2D&?J$%=H%>NRH,70`8@H$%@@'8>M$%GG/6A*%:;T$]
M]4E%QE4YG0$7@J&H0H:HE-,%SLFXCBDA*&&X_D04)F5@2J!84^(:/4`4ZF@'
M8^`1[$9'"M9@H>.#[H"&"O`.L.&'?LC>U`$I).J'8+1"/^C^EL1G832#3'1!
MW6%I>`8IZN"#_R7J9"\T8RG8`.OA$)J!'JHA#O;`_R96#O[Q_K(!&"8JOVC8
M01^`3)BD*U(`!7KR/SY55>XC<2I+--9*7*IP*-6!&8C@:]-@#;K6#,R`:]<@
M#;ZT2\>`=,<V/V2@!;0!-FQA67*23?G##&>-&(Q!'=C!-:M!&.QV"C@@`IBC
M[N;03_^4"N*8[JC@!3A`#^ZP@NKL!5Y@48LA!L9#$HAJ!9HE<C77%G1PRB!-
M\5X%/_1H7$)C,DU#!PXS%<:@"[J@DZT2"H9`*:'@&>!!-J]HJ!IW&-3!&*9E
M4\MX[XR*4EAE:"U!&\PT&&#C2&,``R9A)%:B,0+C0T1A$H!C^W1K%_^810:0
MV07:"?ST`'NG=Q>`@05Z`1?44]<^PB-405MTK9M90!M,`3RT@9DI`1?FZ1?@
MYIU80'D_Q#-(P118Q106`J#8S1)>8!U)`10T)A16(H`%>"@J6,/(PBC\8`\D
MZH-HJ/_<`>9T](.`@0\.8=Z68D$/82E,UD&38J.K0F270D9/=D$3\/_B84G:
M`6-7E!I8N!X8"F-I6$>KX1_W`$$16AVHH0@>(*?-(@7X8W$Y14RS,`?L"%-%
M2:U:@$E+@*Z@(`N8P!.IDFNE&`ZF01K8`'6A`'6)H`NVF!9X(;Q\4$Q'X`9U
ML'&)81SB(1YR-1V$H0_NE@,@``(B@`.,8`/_%%4/[P`+^J`OJ2"NXUJ0(T`&
MX(Z@"E>0!1D8=F!3H&4'4X7G"H=2$X]OQ-0_H`565*D%_&--,P4]@J$7=B$+
MN@`,.MD+O&`(3-<+B(`4V@$^?,QW=M=U>'-Q=&N/A.&+)S,&M.$_W`I<:`$2
M3`:8_3EC5D*</"$S4&84.*`*6X!>MW$%+"$/PHL%1,`2?F$'E9D#3.9BPDF`
MK*"6SS0$<($2B!06J,_;H@W;7H`4/,".0F``*,$*,(`3/`$#/&!X4>*<_H<:
MQ^^W_SF@!U@%)RZ&,BR'Y:`.[B!AXV"!YR0._&"@,-9$-?)$'XX/X,[ABD8.
M!$Q.-+97SF%!";!"__\OAHM@P7M4X^0D)#'H$&[HAFAX#W(ZP"?N`4(@DT5#
M5/H,DY09<#Q5%G@G:56%!])!"TP7==<`#*1X#*"!)^B!%$C;"Z"@"TQ["FA9
M!V/</(;!&(QA&=C!!-F8&?H@#^QR`R```XS@"#9`CNW2;^D."_JR+^,XKN]`
MD#%`#P:*SGCA!51`D'LQ!KX2D[@R&"`G!#0W5329=W8!$B3+L7+2$C0!KJJ7
M35F`!XQ*["`@JSUYM$69M(U<'::%<5I`T'2`C,5LEXU6!!Q3./1.SPL1E+#.
MK$QF)?SYU7];8VQB>-_/$LAG8+*J9-SJ^DC`%(RY=^L3UH6]F/=#RE_@G?_Z
MM1W[]==Q(P8JH0HXP`,XH`,@:!*&UTY@1$=0`M:!6Q1"A[\%VK\C#J=QFBQR
M>"[F@H8BD(:>AAH\#H-HZ`(G3D<Q=J3F(H<#/-U-U/]`U`_V"D6KX0XJSD(#
MW@#OX`'NX!`$ON,BL.'=).-&+M_)Y`%X^@9;0'(X!1E(8.>$V-%2(]$\Q07&
M01J``&R]0(K-`!5PK(K@X1F(@`B&P,F'8`@B(%K(>AC^4!G6N$[-X1F`@1?R
M`%`Y(([A.@(B``+<VNB-_LSO8,V;'H]?``4(FP-0(`_F@:_J81C\^@7TH%AH
M03]T0!MVPQ;"+)6X(0QU(>W5*!@T82Q5Q7=T,B?_]8X%B($=`%$&>$`+O,"3
MNV#F9WX,2)L9TL&>:,$6=,$2=)FK=-`KE=D,?Y`,5Z#KLDSQ1,,4VF_;73WS
M-3^_8UU':%V=L(V<[`82K)W;77W\1*$S_A6>4A\21B$4((BX)V'V1\$3&L/V
M1:$3./^W+<)&<F388?\;P%V@=8A,4H#<\;TLD-_>T5TNBD`.TEW@R:3BYDT.
M<EK#,BS=<S@.[F!`F^$.0OQ$>]3Z'T`.\OI-(B`.C@"G\;W]MS\L3`P/D'_[
M4P#&-S6WP$65PE!5*DU4=/PK`:*$L6T_B!"!TL5,F#;?X@UC(<,8/2!$AG2Y
M2,2*,6/JXLWS&,_=.%YZ_[10X<#AA1$.$2)`8-F2)00,$1I$8,F!"I475.[X
M?,&A`8J4+U"LT!/OGM*E3)LZ75J/5U$8*EX8VQ%#4["M)'1H0]:"Q"Y+EH+U
M:N$B1HP684FX)1&B!#$7;D&48,%#W3QV\>)U9`?-RQ8P%X<,J3AD##-W,EK0
MRI6+%@9+D&VU".$8<JY=(4"$B`'VPX<5E"'38OL8LK9@N%*%$O4Z5&Q1L&/+
MMGV[=JA4'E;XS@-;E"?=N'/?'CY<-NW7PF??OMWI^:=0TVG#@B4*>_;ELJ/3
M+E4%W=/QY,N7KU?-CYPB11X4B<,>/OL'\..XIT^?/?L4^_47D0-,/>[L\<!]
M[O_Q9U]["<;!8!PI%'-/,W(X6`1_%2K87GL&WF=?@W'0P>"$#2KX0$QP?1;,
M+I#)DHLLMNQREFBDV=)BBRS.<IDQ[5QAV!A>F#$&'.T8<Y<(-<##HT5=!#$$
M,^VT,XXQP`!C""]YQ$#%$2AQ<$1,+:'P4DT0K&!3`PVP]`)/+_QT1YI%O=!`
MFBN@(`,]YMUY3SW#^&84!KPH0T(+:I$@`@DKD##"!VZ5L&@))80`EZ..NK"#
M,?&PH\Q&',$3CS)Z`%--E,)<\4476RRY!1%!]."%%VR\`RAELNA"0@ZZ0+:+
M6YJPF(LD)(`@P@K!Q"`:";)&%@,)M/#:"S#F.&-**9[_/&><<\IQ-YL5,:P`
M22G$4:M<<>"..^XGT872R73D8G?==MB]QDDIHTP"B0?BX8EOOO?((XXXQN0A
M1PH%WI=AAOC55Z&#!Z>`<!Q^N.,'P?Q-')^&!;M'#<0&"CS?P`8://!['HY<
M88$1W)&'!QB$\`&*+?2B&8O:Y"I:""OD$`PMM][8P@?$H$/$#U!`D08TT$RC
M3EK"Q."".E>H>NH602211QY`Y;13!"<%%1-*$=#$4@,,U'23F5_3Y*:;;::)
M@E%&S2E#4OH^Y1`*+*@PIU7&L"""""4,(P,+);3`@PPNN"`##SP0P_A&ZJC#
MCCSSS`./.M6HXPZGZABCATXI_ZV@I1%;;/'%%EXP:=@60Z2!S3PL0`(9K2WL
MC(Q;I>5BR0H@C!:,#L7"KID.*V@"63`M2+)-,L)`0@DEDY3B+6W+$:=;<->*
MDHKUME5?W/3,64LM;.K*-CZZS[G++FVI0#])%9#L`K\5XJ1#?_WVWT\_/.G`
MPW__\-SSO__=PQ[WD-M3Y+$.=&Q#&%/*@T_D<`0+X<<_^9$/?"PD,O[(00X%
M2M#$ZO,Q@M%'#G>P3\@>(+`->6R%\6G0A#9(PCO@Q`-Y@,0C(`&7T2`C6<'0
M#&0L08*6Q4`'+".!!TJ#HQ#HZ`J48`8V"*B4O6E#%V!1AA:"$#6IK:0!)WE!
M5;0$$_\.J(`#8)I32X3RM0:LH"88$$H#\+:"JJ0)!B^(`0S:9A08S"D$>IC'
MW)ZBI[NPP&TR4(<RAC$,2ZEC&8^[%.0Z<BEVL`,>[E#'.,91C6<8HQ@Q>$'5
M]*`'&:B)C"A1002.((31C2X(K!R"U)IT#Q<`+Q=LJ47Q?@4ST^BN4"D*8@AT
MX,->Z.`QM-"!!B21"62D"'Z[@,0O+&&*:$$/.=*3'OBL5YMOG4]<Y**.]LCW
MG.AL0C:;Z$0U;W&+5.!"%=IP1C`@\3YA&$,8PO!%,.@Y$'KV:W[VXY\]!/C'
M\=B#'OQC!_W&H<EJ3,D/#XR#"O)30?>8\$(@[-#!#D0?AC'_#*,)*A"&-JHP
M%6IHA0_8(!_XX(>4-F-*N_#`!CK@`4I4@A6E6(&,D+$+$&2&5[H@8@AV00N;
MRHB8!B"!,N#QC'8$\'%ZFETNM-$"8V@!:E(+`@1:4I4QH@0%+XC`4%#P)3)Z
ME8QF*BL*S(2"-L9Q!6FC(Y_:M@(6'"IN`6V*0^;4MA*T30_CZ$L\0O6X:FA*
M4\7@A6'[((-.WJ&3;&4KWEZP@BZR-0(JP)L*C)#*TE652:SL`AOH(0,/W"H7
MVWJ,+CCS4\V<QC-B"0;+/A"#%>&N%[?2!2TL,=-,9*(2EH`G_'AQSZT$@Q*6
MH(0I1@&]5&0O>]5L+FZTV4WG?"LX_[29EB<VX0E.>&*[C)A$=RMA"FUHXQG!
M^,4OZ-E2*_#B'?!`!P-]04]A:'*?]?,?0.LZ-WK4@Y+N.$<U&-@'!SKP#C`L
MJ8,8A$(62HQ!!KO8?#I*4I)J*`(E.B5*\@"J<[@C'>80!SG$(8Q?/&+$K&"%
M+&3!"@\4RRR*BL%H6>2K$-B*,\6J1"X@$8*F*44DQN"!"X:A#L#="JK*N`(K
M56E5KG(U`I`=HY+)ZE6OEE4H;7-C"#"`Q[R]@`4LH*-<VQ8"N_$M!#+`+U,<
MPK>[&,5F+Y"!8?6X`L:R-4UR==.<V.HV+WI5!6#E\U#P1DH^'T&5JV3ED8.0
M!GI@Q9:;`?\F%7,8V]C%(`0B^&4P@OB!S$!&$R_SH2LPT0I,B-H1E>!M6;9R
MWE[\`G[V%,8]W?F+X5H"6J90A:W7![U<YUJYRI66)Z25:U'H&GK('05R)S&O
M24SB$<NN@K,[4`4KO&\7\A6&!SQP`0]0NZ7:%H?^A-&+^`I#>?2M;P#C<5\S
M![0>(4G'?X'!P`;N0@]^X(4?@)%2ACZ0P`2&8;\W>`0(!AR&,!RX3PZ^$PYX
M0.$<L`)*%GYM:IOC'13?QC:TX0U:S`(6K'C%B4]\"]>VK!?(^``(Q*(+7@$1
MMKF8!8Y_20M:P&4'4=H!71PE`A9<90>0V:$ZDG#DJAH!K$4QRA'_[@Q6M]TY
M`GO$P``:$((&#."L4*>RW;@:UR[+%5(HR#D*R&Q`_#J$TG<)@<W,_F6;[1&N
M<,5;GL&<)A48BJMPG/.<[N#V$`"==(4V-!;3T`YBM&`6/]2$;7&X.TWGPG=F
MCT$PA+J"U$2F!2L8;<M!+6I,7&+SE\`$J4TMB5Z(?BOB=G5Y[RE?B]/SGN85
MKC.<\0QG;,.=L(ZU[4__B_?YEIF0L,*U?^\!F'I``QKP`.KIB6T`7"`/PN"V
M!X2A/Q"+NQK)*/?^_*?N[#,E'<J`'SV;==[X:O(9])Q2Z?$97V#L@A>[``8O
M@-$+]C-S_O/W0`Z`#WR8=@">L@<'.'3Q_V*R$`L#&`L?YW&XP#(_I0V=P3LG
M%ADV-7BY4`N]<$2:H&(?L'4U8S,[(!<\H`.W$@PR,`X^$'2L9`0J$`)O0B9Y
MXS9>-11A%G54)A1A!G519S-M,TA<A@)W]"A?YRAC)@/UD'T.T3>/4@*5UG5)
MJ%>4AD<BH&2#%$=PAT=&@3<W6'1<]0)6B`)&@$5(YG=2XP5#$H&X,TRYH`N7
M-@*1QRN[4`(?(`(M$!J*0CR5$18T`AF?Q@J9)VJ<APFKT'EZB`F5H%N9H`ED
M80F2(%RHIWJNIFJEISP+5'ZG!PRHIVKPHWOOLVJ0D`.0T`&/T`$X`(J/@`,7
M```"0&V^`&^0</\!!```SP<_UR8,Z?`.\T1MXF<,_8(_]+-/N\A/N7A]VM<4
M\-!\'=`!EA!SID`6SJ`-%Z=Z6Z%JI$=/V_`,D&AZIY>(RP1/OM5;S#-B(Z9L
MC@".GE!BL/!Q-O)Q'U>`K^!Q)P8+I,4R,6`+*R`",C):EL$[9-$+:X%IHB$C
M,;`+R*`)PH`7'@B`D+`#[=`#0;<%/0`!4%=T+,AV-Q@!889',/AU*#``3V=V
M7S<G@L1E7&9V<7&$+",#?J1N\\`+9E=I(;F2(.EU7^>$-N-U+!!FP9)E@W2#
M>!57?`:%>!0!J>2%7T@$TW`,+5`:G`8\NH!#)$`\+')I+2,LQ*(HN03_&;XS
MA[G@"GFXAYKWAWO8E9L'B'KH")F`";HU"X-8:H9HB)J@"<C@EFHI"6JIEJ7V
M"*5FEY6@"'FI"([0"'SI")+04AH`"?"V;1=`BAG`3!'G;=(77\J0#,JP#>>@
MB\VG;=[7?.+&B^90#AW6?-26;F8&#^3`;1;@".?(*[<@@:@Y"ZLY"QH7<Z])
M"]H0<[-@C*9PC!IG"JQ9"JMY"ZS0FQQW';!`@,))@`58@.9HFK+P"B86G.W8
M.RNP"V>X`@Q8AJ>A*)0'*:_%CS)2%CI@>*<Q##PP.STU#,^0D%W(2E:'=$I'
MD7/"`C$`9E\W`"&0D2%IGW83`GS#946RDGY3_VD?4)+9-P_#,)+]:9_YV3=,
MN)$OJ5>#Y(1\PW9@-DAWE(/3*8\JX`"9U7>&M@5"@#1&J4O`U'-NT4.;]BN*
MTCO\2)6;$0)4R0JU$)9;F8=@J7F9=PE:J96;MPJ9IY4U^H==&:-!FGF.L)6=
M=PF-<*1(BJ2.<'S"P)@M=0$"<`&)J6W0EPZ7*7Y.RD^[0(K*AW^5Z7W;M@N_
M`%]0^GS9)P_1MSPN19H":)QNBHX"**<#F)P%>&+%>:>R0(YX2J?%V0JQ\`JK
M,("OX`JO8*?)R8XGM@K7@6+7888[U$.ZT`LEL#LDH!9AL9W\""DMH`-!9"RV
MX`&8@0RTX`**,SNG8?\,;)"07@@!%.F@=V9V=\8+&U$-O.`"-1B2\DF?,&AV
MC))F^]F??2,:`7J2O-`W*\DRE7:L*_DH9D<"1]@W$(J$2%@DTWEU828X2=@V
M</&30<FAK!0-22,)IJ$!+6"'IY%:N@0L<.@[HB&B+`(6FL8*9"F616JC]XJO
M1JIY,PJ(?%BC^_JC84FC`<N52MH(?7FDCA!NNZ`#U(:+(,9MV_9[5GI^CHF+
MUJ9MUS9MM1A?QD!^`W&+_=*9VI8.<\,_DTF9UV:8%S`!)J:<>GJH;UJ<PBFG
M;FJGPVF<'D>GAIJ.`RB<@JJ.@\H*L;"H-5LC+(*TS0F<')<+N+`+CJ<-^6C_
M=C63J2UC`&RQ"[EIG3EP"S+78E!5`P\!#LC@`L9@9"48!!.Y=F479G-2MG)C
M#_$P#C+`JV8WGW9KGS3I-WQSK,EZK`"J??/``X32-R"P.S63H)2FDGW+97W3
M=6.6GS#I*&&F5SGGA#G7@R$0`5S`=YOUK<S`#C*@(A*X%JEAG2*:"[80`R?G
M%3VC*..J&;90.UYA"V1)KT,JI$(*I%TYHT;ZE4"JA_H:O)B`I&*Y>7RYI'WY
M"*\8<=[7B_4C?>+0#NG`F/(%LB*["_VR"WG`L;P@;M7'3^Q5.=O@O?#C;<'8
M/]#[I/6';1)P`1E@F!;`"N2XIWIZCL3)<01HJ!]'_[\"N`IW&@LT&\`>1X[_
M*X"O()Q#RPJ%*JBP\`JMT+_MF`OD>`N-.K_CR`JBT)JY\A:41K4MDX`M,!8Q
MUUN:8$NA.JZS$*J*D@R40@PLP`V]L`/5H"HER)`*2I/Y&9(EL`Q*P0X=D2?&
M,)TAV3(?<+?V":U^@W.'V[<`:I+J-@R_DJ#\Z!D@3,13&Q>+J[>*2VG!DJN6
MBZU=AW8AP`!`Z;F'%@30D#0Y$#R19QJ_PI2JQ:DS$T0GES/*E"(M4*D8(`EE
M.6J8H`C`F[NY>Z-?"8Y;B<@T^J_!ZPA_V,B:QY>7`(Y]V9>1@`/WAW_S%U\<
M.S^3I#_VTR_D1T_75P[56_]ZO#A/I<>QFUQ_+669[)<RS+NR+B4!B1"<LK"H
M$2R`P%F`'&>_".RF#KRG\\N.S(EB/IN_'2>H'0<+J["<S7S+N8!.LG`+L%#-
MP,D*GG`=GE`)0D7%+>,6@@()PD0")<HB0&2IIV4LD#$+3^L;);`X+#`S//`,
M-=R%1.`#-3B273?$*S`,]S`/QD`7$5%`.V#%`4"U"`W"RJK$A<N/T`JX`CH,
M?RNLH@$L_UFUB]NW7)RX7:RL?,O0*MD`1,`%7L"Y0A`$1*`&:9`&;)`&SZ`.
M)<#&/Q2=J9LK1VB4M&`+IR5ZE^$H)"`#.\`+,N`6%OVZMOO'APR(X$BD02K(
M3BW_L(O<KYZWA^#HR)(LR<1[L.!8"0[G>\"G`]P;UL`'/TU*3]Y[?M4F#/^5
MUL+@O<W2I*M&?]?6`1BPLG>=;;MP3_3';57C`5/`",QYP7KJR_1KV/]+CL2L
MI\:,'3!['00\OPCLP"CVS($*S<H,S1L7G.ADS=:LS<.1S<,Q"2=BN+L#`BP`
M5*;K.RW0E+*@";YD";TP&;QBAL7$`I0BSSM0GD30`ZDD&$&0SRS9MX_"`CV<
M-+VJ8\6`T`I=M9JZK#BWG4KLQ!*]T19=VFY8Q)GJ&7T[C\C*Q=^]K!TM`@W@
M`YR[!5P@!&PP#?#P)$\RBR]S*[:P%3'7J?`\#)O:L"W`_P*_8KB(4K8"+<5O
M<3-^C`F1`,B'7`FX^\>B=KL+'J2-?,A/C<@QRM20/&I[V0AYR9>*T`B,<`5'
MH`1RX#E5L[U?.G_RES(-RTPZX(_^R-?,%`-?_:4*EVV_=]<,0``20`"L"``]
M3@"&:=>&J6W`4#5[0`5U4`174`K8O-B,>ATFMIR1_>2,RLR)O9QZZ@FND-C,
M+`N>8,%/O@JB\`J>D,O:W`G`6<WH-,'5/+_;M5W>X@F3H!8,VP*5!@+"LC.Y
M8`J>"CLL$E29MBT&`+NTS0TZ<!<EX`L_9@YIP$I"P`5<@,\-L-#(6FDZ9@S;
MR0+C<`_$4+7,'=W'*BGS^-`LP/^!.P",$]W%V=TR"7JX56NX#KV=+&F?X?VW
M13S2)>T%0I`&VU!`?I04]K`,+,"I:N$;;5$"30,/Q"`#06USE)HH'T"I)'`X
MC-*PP8`,VI`#R*1;1'K(2EUJHY;@HA;N5/W@0]K4Y!Z6BA"63<WMDLSN@1S(
M3,W46*`$=5`'=$`'2'`$17`$1Z`3=T`%*5,UW/OB8UJ^!3]_5H#)7_I[=2U\
M*EL`%U``/4[Q/2X``(``#,``$``!_=[O2%`$2(`$^7X%H\"HFP"<VCR_VSSE
M9QZ<7GX=G;#RL`#S'*?-,3_E7B[SV<$*G8#`G=`(-K_-G'T+HH!.J9!.H9T*
MOQ;GP7#_KKUPHCOU@**A(C>B`>7LNN_J@+F`#()3`CL`$>>@!3V@*H\N!/FL
M@=C]6I:NG2R@#O<P#)[>W$7<Q4=XA%1<`C+P$&4FT5W,,J9]W?.HG?RXK(9K
M<J9]^"9GU.']]X?;`$`@!"9-!,P0#\80U(!C#/>P#(]"^*6=<XDT#)6R%YOO
M%FNQ`[L0%OWM%3[46]M>X'BYEX'([I%`K[3/X/1:"8Z@[@P^I+%_X.-.KT2Z
M^^K.[L6?>;NO^^JNX8YP!4H0",\O"()`!X&`[R*O[_TN<![_[P&/,GV@?MM;
M-2[.3-Q[)>6O+7[]I2FS<!N@\>V_``RP``X@__[!'G10!/F._^_XC^])OO3B
M2/,T#Q"R8,'RY$D@*T\#62$<2)!50T>P5L%B.-#3PX2-%'IZQ:H3*U&L&+%:
M)>KCQ5NW1*5,I3*5J(*E/'%*-7-2"UJY=.J*\>$#B6`Z<\UJX3/'+)VW<N#L
M^0$#LERRA.:RY8)$+VXZ7!C3(B0($2]>A"@8X!/$61`^?998=F\<BQ`_A\V#
MYT)M`+5YU8H((4)$"<`BU(8HP8,8BQWW%"]FW-AQXV%^)7\XZ]/OA[AZXX(0
MP;DR9;-HTW+NZS=$6K,?3ACAPL6+F&?&2J1FH4Z&SQ!Q6;@`O*+%[Z(NV*FS
MVD)3UF"Z<@4K"H+$+EU2<VF2A*E2)O]'BBHI4H0I4B1,F!1EPN0H4O?RCAR1
M5^0HO*-*X<.#QW1)N_SX[KWK!Z\_?_GNU$,ON^ZX:R0[+92@0Q`&&W10D$`B
MI&/""9&PD$(DCBABPR(T]+##(T(,D0HEJ!#Q1!$[?(!##E=DL0@++Z20CD!F
MI`.)&W%$HH@K2H$%IH0(*N@6(1-*B).-$GIHD2!AV80B@CHA"!9&!@*R2"H3
M$H413X"$J:674A&S)4YF*H6F43B9A(06<!$J&!)^ZD6Z7'+P*0:D=()$DEP@
M40L#36S122I;=-!!4&2V8L8'(83P@@@A@&@@+[34(F&8>^8I9P<9C&'G'F,R
MRPLOS3[@RZ__P-0";)C#=ICG,5ACO2<RO](B`;#!.M,+-,DJ0TTT42V3C"^]
M!C"""#&XP**:&GP#K@1BK-)AEUT(8V&%7K2A9=M@/G!!G6%*:`$J6EI809-<
M=*%EA;1:$%0G6B3)9+M*ME,ODOCV,R_`3.CSSCKQ_IU//N[*^]<][`!N3[V#
M!Q90/0'%,R\332JA1$$&(WPP8P@CE+".0$"N0Q`Z0,8P1PMAC#%&.F!L>4>8
M598YY959KK'DCB7LN.0:648BB34XF>4B3V2RJ""'D`0):5%@$7I*3A!"R,BI
MBYRZ%%9**67;@KHNB)-;PA1E3#%'.3/--#FA9(45<HI*&W9#T&'0_S[3:CNJ
M7"0)YI9>+%U!!TC<+A2Z7)!IP1@V&"4"+",@*`NT73\H01U[,OUT'N)\(C7R
MO4H++*T27!"=U1(2D_5TQL+E["_#B-F!A-,P^VPPRB8;3:W*XN)K]6%O-S8)
M(I)@PQ@6=D&F%V28XZ&%&`3590416&"AEZEV\=:V$)*;#O9=A.JE!!#NEJ[B
MZ[BKY#OK(B$/_>SPA4]]][;K#S[RXNMN?H#5?R\2_@QNF#N(@8=BR$!&-[KQ
M#G,T@T8;<U`@2,8@D.6,@1,DF8TL:",=W4B#-6/9@G:VH`4^D$8WRU')ZJ"$
M+-2$$Z+P49E2(:0RP1`6-4':1<K4I50@Z?]K1IH)049A"FUXPQO?:,<[WJ$-
MF7#IAJD`A9A.\9(GCB)-C.`$)Z2HIAB4P!)"T4:</A"#J4C"5NB2BB5B8`E+
M&$!.<2+!"BRA"UNT@'JZ"$:GM."#)`A!#(MSP*1N=SNU;`4>BHF',6(@JLUQ
M[BR2`0P)6$`,=;"#&#P8!@E,A[K3S8-6?R%&/"RW#!F`+W)QR<UE_F@JP9"R
M=I()%F5"8(0D)$$,?3`D+<RXK1;(@`4QP(54=D$"%UQ+.>F*`0AXL`P6D.!=
MZP+!W':B@Q"0`"K2L83ZOM,O17S'FOCR#O^\<[[P](MA\+-.OS"1B6QVIQ*.
M>`1^_/4=]YC'/.+_F1__,J&-;JR#'>4HAS&&08V1.>@0#7)@03/FL1%2<&,F
MN^`%<63!##ZT0A""T(UTML""SNA"A:C&'I0`!19NB86W*%,,.5&**A6MBK?H
MDA1$`20I_.A,8)O)23WQPVV\HQWI*,<RAB$#7ZC#&9/P!)=FZD0FIN(4I["B
M%!DAQ3*4811Y",$6==*+.(U@!<J1BB8H0X(MEI%MO3#7N>SDDQ:HBP0ZX(8M
M=K"#:EP!"$*(91(:]SC(I64$GP$F#W@0S%:.2B^G0A5@6'",5]V#&#*000AX
M@$E,JDX$PFE,YD+``L;"I32E-!5J0+-(4^&&=WSIBUH&`(&Z,H,7.:`%_R3D
M1HL8\`8G4;$$,*TRS%SH0`0\4(:XHD.5%H`@K4*I+5"FTJ]^H>\\X('G^=HC
MO^M@$SO:]`YRRX.^=5YS7LSMYK_@V4V*92(8R-`$+;HQ#V4,PP4KN)8>^!!0
M01""&HA@H`,]""&1.6@0^GU0R&@TH1H%^&08>FB!-WBAASH00D@`6<@>"$$&
M'8(0.*H#-;"Q!V;,M!1CLR+8N%2&#5>1IC5E:2FDX(E;R`1)6J.$*;P1#FTX
MHQWN,(8N`7,6$OBB'6GSA!1*L=0G`AG(G)#"*-90!J9*M5I\4M<*8D<"KN:"
M%FJ!1%1D,8L5_"0&9+5$N7ZB`UU\KP2&.EPS[/\*A.`EP0>.2\UL\LHYP7X@
MD8,I@0S4^Y=5)38>X1+,)2$;*]5!2S'L@,>KX"$#OLC@4^I0AS'\F=G9"`8$
MN<G-650Y6E$M,@1'@&425,LG/ZT`&5ED4TYD4:[=E$`;WON`#(@Q9J'H(@?"
M=9N46R"WJ<QBF\E=[G;Y=S[E9C-]_%O/=]293>RD<UZ8:.?ZN*M=31!P&_G4
M)SO8,0]VA!(WEZT&-23,(&I<8V,%5;#'#-J@_4Y00O]E=T,U6"%X9S#>"B89
M$AI$"$(<0M_4:,<U]D`-=TR8#O]N1C.<<:941&$4GLBAB%/QU#*PM,,U*444
M4%P*4ZQ!&M[0QC:*Z`[_1JNC'L>P"V9R8X`LR^`<E$B3%*PH5:4N=11`+K(4
MI!#5J'+BENF"!/0L76M=>+'*\-*`3R"A"0SPR8PMT(8E6B"Z5:FC#T"@>EWO
MNIE??6`$<.9<:36'&V/<(QXUP+.B[]%H8_`F+7[^\V/");FP*X-3PV"T741@
M]L5X,A[L4`8+.M,7%_"`L>`#EF!.Q9EMHX`#=04&+[8HB1*L0!*Z7:M5<QLZ
M:1+76Z]VIDZL1P)-2(<G)0`CWC(AB4B@7INK5U\VC:U-=)YONOQC[C6[>1[N
M;%.YIT=&,@RX#GWJ4QF3%)VK&\NF%N1@%\5P1SNP@8UF'*(:`VT@QW@VL@46
M_^(0URB$0AVXA^X#^+\DQ."`Z\#@.DRH#G4@Q![B>XCNZWMDV'"'.^A1#7?<
M@Q[P;W[ZZ7"(9L"&9T@%J>($INJPF0*QLXFX-)$J(?H&(DH'>'`'>&BTGPHF
M&?BK-FH!#9`$2*@$/_D6;W""#BN#5$"#I4+!4WB#4Y`JF[NYJ'(YV,H)7:"C
MIO@`=,&;HOBB6HB*6O``I\"E[J&%8-@%7P`F8U`'8H"D9\`"(C""3K,K"$`!
MZ6&!$B`!$K@,O8@\T?$B.?.6)"2>1"*!L(L''D"5N;`-P"@!77FLM@,T-OR6
M0XL+8.*S$,`[QR".S"@!8XB'>"`.70FMOB@M2R,!._\#!BJX`BR8@F9PO%RP
MA-`Q%+[0@6#($S@!'^K1"6WP%AX@O2CK%K"J'BS$K5E`/4W0ID=@/6T"-GQ)
MKNM8/?.P/>I:/8K1A&#0!FV(MF0(/G48OF'8`;]*IKR(DQ9`(QVP!&VH!FS`
M/W>@/W=`A'P;*$*`(`=J,))1,(![1D%(-P:J`_KC`X=B/WT[A)+1ONA+OSJ0
MOFX[A#W`AAEK!P!LOD*XAH`3!&JH!\7(AFJHA^D3!/H[!'2LAG9X!E(X!:B2
M(@(L@S70FJ=B`US\!E-PAB%ZAPITM)]B+![(0I,SE1"(@4JPA!RP!(&0!"P<
MAV^HN2S@A#5@021[`Q9$`X7_+`.;*X,Q*`,HX(1R`;,W\2(^D8ZFP`GIV`4#
MV"):\(`8D`2C;`'`(`9X@(=XN+\^L"LH-((K2`(JX`!@4`:M'+X=8(%)&\8=
M6`9&XP&]V`&]*[DO%(&PFP<>``'`:`MCB),U]`DW?,/'>#40^!9D0HTU/`L9
M&*0_)+3%(`Z^5`9"0C13^KM:F;2M6#0KH`(J2`)A<$1:(($:2*9HHA:W61>?
M(!RJ((QPB0'<FK*K"*-1-#W4DP354T76B\5KPI='R"X<0"Y)L`1)T`3<#(9M
MF#8C>@=K`SY]`A?>``Q*<XX5\(!=T`$VR@E(P$)@J(9NFS%LJ(=ZL+!FM+!P
MBS[X_X,P!SJ$_','ZD,W@@J$0LB&@&.WFR$$^J-.=]B#/6@'?*R'"]L#^U.,
MCLJ_>Y!/[[R'Z*N':*B#/9`^=VB&0G`':MB#?&O&0I@0[VP&0Q@%*/@A51@%
M2B`%4X#`=BBB=J"'"DR'=I`'>P`E*V3#SK`5#8`$2+">CIP%6?``+'P$6:@$
M+%2&;V"$FXRJ-5A!%AR#4T"#-U!(*)""(!V#,;A)73"7'+0UG^B\W/*)MI$.
M2=B%;2'):/())&P'!X4&0]""*YA*(Z""19P"*A"'QA@.-QL,8E@,7OBZ#Q@&
M3ZJ+1"H!PXR''4`5=MBSTW!+P?@`MK/+Q5`=19.-T:B4N_];M!;8C1T@!D?S
M.UL)NWO(-EU!#6*Y#!E0A\5(ASPX@BN@@L8CRDOA#2S<A:/4B5J(`1(``=&,
MBJ`#IM/4"5N(BQR@&ZSZ@%63BE)4/4CX#ASX#M3CM>_(`4F(15/,A%Z0!`**
M-G(`OG?0)WBPMD9SG1TH/F(XAAV@PPT\I!`P#JKHA=SH'J+P"3V`SFZKOW=T
MAWJ8L7J@P'J@AW0]!&RXAFDLA.FLAVPHA$$8!.WKOOC25WLD1POR1L6@SGI@
MO^^DSHZ"S^NL`W/%!GU[SWL`SV9,/R3H`_"L@VN@!W>X!N]\!H`J&7>H!H.;
M!F_(T':`!WK@4$8SADF2@?4:'>+_T;H--,HXT0$6K87/$TE9R`P2B(19P(`0
M,`9S>,$('0,S>`,T.%JD78,B%5(HH,DG*(-<,%4^>:8X:1YJRC(=Z,%:H(5=
M^`TGLU)72T)X:,(K$`,L4(-8.H(I4%LL,!$J&(<\;*5+40Q-*LM7B8>2(Y6?
MS109<,L2\*1*.@O"^P!>\-.[9,,:`!?PT942O<-/0:;4*(W"'#1$\Y5).Y5H
MLE2ZK8;'!--.31<2@*0EO(KD\QYBQ*TL^XF[4578257/BQ.HT`GJ2$U)V-5(
MR(%4C(0]R4WDX08"L@1-H#9"DP=KJTB57<)0@IW<H`PVI,-H"LEM(28LA(19
MH`4,^(`5_T"*'_0)7A!7;%`'Z,P_^D-8^$Q7>L`&@&L&<*N_>A`W=TU7C75&
M>+0P<A2PD+E'>J"&0L@W.N"#^MN#9I!//YC.9CB"]-O'9G#/.JB&_'0^=UA0
M!H,^`-6_"\N&##T_)(#.=F"T>%@&?^(!7NA*V,D5V!&,V6@!29@%%KTRY5P!
M2'"%4H@3#6"%6)`%#<B,<W$R8V@'FQM2A?11-#"#(#8#FH2")X`"(AV#I\V%
M7^H>H:`%K/*`7G)5K#I&41WA:'(!7DC">("'=J@&-L`"++@")5`#,193"!#3
M1;S*)&2T:YL'8MB5$""&Q!J&+Z3+NW6!.)W3,_R+17.!O<*5#_^H2\/]4_!1
MM,C`C5/Y"1?P)'5P,\3+TZ]R5$@=U-/8+!E8#'BH,0[@`,C\W*#C!5"RBJZ=
MK>E@%_')K7;IA4S4B5L#2IW0K0]HY=-+/4EX!-2SW=3S/>"+).$#3KY;0AZ(
M5F`<3DJ+IC;RC;_9!4@P5;0*BJDHEVCJ,F+,$UK(`0S@!?,4R.C\SG8X!X:M
M/PN[/^>+OV;$AGO0MVQ85P/%!G9]6'J\AP6U7X6]!VP`4`4N!(SU@P#&!CY`
M9_0]4&IXV/Z[Q_H[!_"\$6^\YSJP9S]8X'0%QR*@AFHH!I:]S,`@+2S4`.!`
M44F(@=0U#EF0A5BHX6\%*TN("P\@Z1C_A00,(`$#,-6?;0<@8-HG>`.B18,Q
MP.DW4-HBA0(H"(LGZ`*HK:T8Z$&IH"-LL86MI8Y#PL+<8!-74P9&:P=S$`9@
MZ(-%Q((D$&.OADPC\&3(C``.D`'VVHUA2#O<L5(ZSA0[S@M>R&,VW=MYJ(&^
MF)Q,&8=.%*4V+>3&>#412%P>X"S)J9U*=0L6H`S12(NXX$/*+5&SV"Q!4XQE
M<#(5>`%/S@-?&+H5R,"H[H5=F%K@$@$2J#7K^0"VRH%WB5KL%9P==.)<.#W5
MQ`'4RX%?C01D>`=?'.9H#3QB6`;`WA6M\@TL1&$TH@5-R(%5TPE+8)</T-:I
M:.Z.K,SG=A.I_Z@%36"&9E"'CVV^:DB'<RBX`26$9B2$`*X_ZIM.@4SG:Z!7
M?0-H!C;0_,,^`=O/@;H&"]8WZD37!$9GQ6C/>UP,\XX'_&/70XB19F@'CQI0
M`%W&Z;,0:O`#%=B,-HH!4H,$2Z@$%;:$7K"%D7:%YL:,%:@$DBYI62@N#"?&
M$C=I$/0BILP"(TYB,YCQ((:#:9@&:8#Q(4#B+GB"(8@XV!J7W^()N6EF<Q&,
M6W&!1.5B>$B'9P"&MJ6"#?A21?3JKR;K(X#,JVP`K,.,*YP=S$A3Q7AKM9B+
M>X#3O)!3OF7#R<Z45W,S3/'KQ0!L1-[3TD)RLU.'KY5<7R'#P[1<TO_@"S]7
M#&+HBQ7@@!>@@CPP!BG-A:?K0FSIA6`P-2:^0FB6!6X-`>B(`=BN%M#3"3B1
MDR?VP#VQ[4<`UETF#HTDI1'`LRO\C1S0`;)B$V38EEU8@5U8;4>GWIT@2;0B
MHZ`LM2Q[TI&."C90`G?=`_QKAGT$V0<^A'H`R`"V9P8I!'Q<C&8PUX'RSOUC
M8/1]V/$,&43`1_##3WT+V(?MOOS[8FHP[WN`QX>&=NG+3X#$D6P_OW7%TO;4
M-PNI`SG`@E^(`1'0`5J8A5(E`4FXA9*.A5F(@1Q@:5F0A,S`DX6OX1RH/-AI
M@5FH>!.OA.!0!U(@`J8ETAD?`SAHA\JY!V;_@`(B&`(BZ((N^/%T"0;?"`9;
M5,Z?L%)#3.M(:M9TJ(9?>$P.V``(&'HC$%/(;%LLV(,[B/).IH(7>($(0('E
M30V]`!TQWS.],'.\O0O,:(NQP[-O60QV.,.T,',Y5ZQ#5ES9*6R__)1X2"]>
MT*45.%.X>VQ@026W%'-0@0L4B/H7N`-B(/BH+8'B`>E9!Z,RPL)6KJUST04=
M6`'M69>[,9S9(`%MX`9;5$W;E@1@Q0';INU^BCP-,,H8F!;E'($1('A=Z$%=
MV`5Q(<I;"T6A`&G+HX6B^PG/U(E9<%'<_PFKD@I98(,Z\(,]&+B']H/Z>X8+
M\TY"^+]V+9F!9E_^_\38@6H&>WY?993/@-(801CW=+;'_"L$[#=0_6-'<VV&
M]:.#>^RH]0M@/_"#\S\_BU5P)3!7>%!&`,5@"\F"68`F@&BA2=:L%1]65(JE
MT%6+$+EBR8I5B\2'@[LB*HPURT,,2Q@.9LHH,E8E$B&,;;OR8\B:+F;&A&GS
M#IXZ=?':91E"9(B7+D.@0-+1,`2)HB%*\)"Q@Y@QF_%N;@/&*\\4"!PX&+%J
M)`*'(TDX8+E#!8L5*G<X1$A+Y06'%2A"5(PK]P.(BB&&S;MWC]=<O/?@L?@0
M(&Z)8WIE@"BA6(:ZO/>(E:@X3"_ERI8O7X8,PH6Z82+LPA4!@H2+>)C9#?^+
M'&*T,;WL9(BF"P*$B!"K0_"@/,_8BA4OV+[@M<-2+ATA5O1JT<(2Q1"Z<N72
MU8($).BY:'6$OJOH+EJZ@NW2IFF%B!(L1!0UV6*7I!R2(.5X%"E'#DOKC+5`
M%ET7)$W0:;4@PG+6T6+0!R30PEQ%U5FWW2[0R9)+#A6UT(LDUD5(BP?(Z/#!
M<1!&R$8=?.R!1!%%F+C''GP<4L<AV-2!Q"'T5!/C'NZX0\B-]33C3CW8($+-
M/>Y@4P^/V-#3#!U+,DG'(>[<@\TAA]1S3QU"4E.'C]3LB`TUU^Q1S9`X^M'C
M'D>0B002@E`#(QW44--B'2>>J"82:UAB8`NT2&+_%R08R>)!")8`JF<OA(HT
MBPZ6M."A![.,I!`K&GRP`TY00!'$&%Z`\88T\!##0@DRP,/&2EV@.H0"MH7`
M@@PNN"`##\K(DQ<\[9QC##!4=04!!%SYRE5:$5C%@5E4F'6'LL!%\-L+$:``
M@TFR5?19772%0(Q>\PS35U[QN#!7",K<$T\-(I2'+@O#J'./,9%],!EF\]+K
M;@DB</8N7=C.!H(,[,S[[K4EM%:N#"7,1I>UM+4*L%[U&/,""B_XQ@LON]@2
M3`LZ!+.")+3D0-1ST"&3WW.Z:+(+,K30LHMM)*R@@PXNM+!""2X88XP,HL*Z
M`WSMY8`#?8^TMXXR+N1@_QTD,5C'W`A)RT)0HQY:T@M%('B02X2Y2$*"#M;5
MTN&!X!%G72Z6[&*<ASK0`B$I2-1!AYTFJED$'2CN4<25]1R"8AW8-%-''=6X
MTP<U1KKC!Y2+]^C.'G+/#??A8_XU^#W-'%%D,XH_['@U1M93>#/5Y$U-X$@L
MJ>.2<4..HNMJ9F'*"G618(DDU^8`*"0D2()1+GK2HD,E&$%422\Q5$1"#K.X
M,A(L(;O0CA9#4+]I&FVTLXP+++!`@CK,4(_J%D$8(<,PQ"C##CLUQ>...,(`
MTT<>5KPP!5H<;&!56K\.VX"P')Q%+,GZ300:@('?J*`W.=N9;:ZU&@=JZQ[<
M\O_6/=C!@L$,Y@,E(%<\8*.8>XU&!O=8!KSD5:\34@8R(F"!.HP1&%;1!@0A
M^-<][,&.>#AF'I#QD(?(54'8]*LN""-!PHAA&GO<0QTRF-AO8H"?C_6"0R30
MQG=@1@M;L$QCNP!/VE:@G!9$Q@0NF):'2K`#9<QC'NQ0QCC4P0Y?2$('O7!/
M?(8FB6W,8P<K4!H)_),+6V@`!"VPCBX\()L<!(,B'VC!+*RC":_5XC]3J]TN
M8M"VJ$%G:7$A@0;J,PLVH*YN=!OEW`X!#W<HP6^"4],>Y$2X+#4#<-6HAA^J
M`:/(U:T./4)<,^1`C7;PH0BQ/$0?L(&-:IC.1<TXA!___`"W.15!#G9:4B@A
M-S<4S6T-!9I-"'9AB;AD32&RB(3R,#*1Y&DB!C&8!?%@`8D6U(4H*X!$)=BI
MD%8\(@0NH,?TH'`%-DAC&M*@1PU<`!X2$.,90PB"%[8P/BVTHQ[PH(DQGE$-
M8?`B!D?@@%7TAQ8C^(]8(2T@!#"0%@Z\@`HHO<,+E'65%S3`66YY0;OB88QA
ML``N"8N+""(X0;GX!5QS(0$'SY6N?I%@'B2LBPE1>$*!%48=+E@-MF)#0R7&
M:@?&4$9JKD6"@G50-'5)#%U&(%82\,)A[H@!"EB``M\8@P<QDYEZE#."@ZP@
M/2-(3PCN2@+%L`!GZE`&,7;`_X.</<48PJA&3<IAC&#D0`?PH6,.(`&?8,C#
M&"2P!72Z5C8)+9(66PO99V(PGHJLX)+764$,GF.+W55D!+VPVM?,AAVXD*`7
M!B%!"_JPAQC9"9O8+&7B<!E<N#6C'7UX9HR:.R=11DYP*HK;,]6D!#G<#75*
M0$(<3$0GUX%WN$L*1).L62<3'6$2&T'7!\(3%PW4(B./S!U!D)<\2^QN%\T3
MYRSLVX*N'<@`CV"%0D)&*BUH@1G3>$<]Z%&N%3RH%BW@Q3.($(0@=&%\5V#&
MKF*@+&2QI2OW0^FP.-``$Y_8@/XSX+":Y:P[Q("`*V@`$WNS@G;I)1Y'N]J^
M#B2O>?_P!:C?,D@&-<A!#RHF82&(!PDEXU2G[K`$>.&!:D0CFAFV:QP&>MD#
MJU4P=O!`K/W2X&S82P(9'",>2FPKQ5;`"YT113%C)`H)3/!7\P2VH$KA!5.:
M8A.)PB,>\"A7/,;!BP"JTUA6D-D<YZB!]CRZ%^]8!H*T]D@&Z:)#J;6.).`2
M`H%,DC@1>FW9)/&1N'BS*!?2FM84M(+7PF61QCA$WD8Y7%&JB)21\UN/^&!-
MNIWWUL#V[K#K%MYB>S?8P@[$W'Y=IR-0P0J,D`4D$F9)19(`4@KIKVAS`0D,
MW%6&D&!."1"5$4O`Y5$3JL@`(!$+5AAR&/9H!X/+I0XHJ6/_!0/)10QV\(P+
M.W1\0##""JZB4@P8ZRHFY0`&_'>5%:3EQ"8=0`$CL`((T-A9&H>!3-_:&Q2\
M=1R64<<.>ERM"-ZC6T(N5[CDXKT*NB!=Z*+=;N"%\B?32U\BD(&:IUIFV5PU
M,'5!5VSH\E77P.8S'A+KO<1\(/.=IZT@7T%3AB$#&1ACC4Q)7TW4A\,T2O`I
M:DY'.:IAC!C(P`_``(;50=R69C%\8S+3`7WJWAX=D*,<FUXM@P!TH,\R)P3H
ML<2Z:V<V;T)'%\%39`R0,3O#;VT6C0H!%@T4@V2(`QB_.-,1D#W<UPG;;U,"
M[G%+;UQ<"GO7Q`8]>$E)!_(V"6Y%_SC"$:R0AQATP!&RH,2^]F0@$H1DV_W!
MY$;N&@(=/!($^A9)+N#"R%DH,@3N+DD)EF%OPN*4!5M=02TBI`->,,/"07`H
M^=#RK((3\%G/.K'%4>"_MS8@_O)W?_QGW(`5J&#C,.@-C5&@`A:L`%%H%8ZY
MQNSL5+:8QCV4W,I9$`951`FTBSJ<1WF4P&WL@`[9',Z=4)2QD%)MCWD,D0L`
MC#K`RYCU&,'DV`Y\AN"M!M$1W=`E#\RXE5NA`-;5!#RP0SETG3J,PSB4PSB(
MPSCDC*Y(!2_(0![H08Q1#$JU!7`LX?E97`S,'7W(#!7FP"XD@P6)VD801\M$
MAN%!1_(-GO_:2!^$Y,(N[`F!3(U`Q(`,69(9QH!MM(U'A$`.:((V",,NZ&$>
MR,\>W('@?-[IZ9H@$N+K(-MQM5Z=@!ZPG=?J"()T[4$?R`_^>(`56`$D1`(K
MR$(EV$5J34T(2$)&4)L&:%LL:,(:^MVGE:(L4,0*0(JI<=(L;,0'X(PQ[,`8
M_=5?G0\C14@+^`(S],#XD1\0G!@*-$NSH`")O97%08N)V5__N1_(1>/4U=C^
MO<#^@5P(M)5;L8JK$*`"%IV'@)7*"4:ER(/!S`5G)-%Y*,8PU(`WQD.8P<7-
M:>!EZ%P)$$->#%;.L`!M,,8Z!A&ZQ)H&?1EL4)7@N:`+[@M"KI#_8DS=F^D*
MVAUA'K!`C-W>"G#<;[@%!TS,Q!2<-!9<_DT,,B;C_4GAW,5`W466S#2%"S#(
M:ST'=C0'@ZR6:.06;'U`UG`:=;`::`E2,+3AVCR'+-S"NI4-R$`")LR")@0#
M).CA4_Z"YOF!)/IA'<B!'&R7*)V7FL@--2UBZ@WBL(%E(GY7>!U!';12,U##
M,XR.V0'#+G1`!G3`(U2"(S3"*L@"+6";)9#A+HCB[O2..`4E@B"/;4#"?L5"
MHY!`0LA")KA')F@`7)1``-H%S.P,#Q!#"W3?+&"`,6@!P(T/^6SD6R4C2KT5
M1X(<PX&<_V@CC;EF`X0`;$IC1_8&"[P`_PO`P%O91EL%X$&Z@,CIA68=H`GQ
M0)%52@(69UR$`"\,FF8HAOJX41+%7%W08SU6!F2PH#I2!CNX@`RYP*!)H'+2
MQ@F"E0H.'4.^H,D17=1IHPB`G&W.H%O8AHV]59O59P#VAL1X'$=2C$9N)/Z]
M%154815J`-T5:`YDX0Y`C83L0DP:1S=!B.2QX*(H4@MP5AA"$JMU#5'83JSQ
MCBY$R'9\`"30PKCI``Y@@BM@PHI60B58UB\$@S#XPFSMPEO^0A_\@MHUDQ^H
MR&\)SH\^EU@*Z5>24G@I8BK1GA$<@9(>P110@?U8XB\(0SO@2#N(@SALPS,T
MY2,D@B*L*"9<PO\JQ$+S)8^%Q%H,`$HEB$#NB!-LD0!_>*BY=0CO:$)EQ4#-
MS,6!>`#R+64+U,`QN*(L/-(Y7,&%"6,0``%')M!O=*3$T)@*S.8+Q";]9:-L
MAH"):>,*<(];P`!ND@<*N*?-U(9MV(4)-9ERCF,ZXI@R*-)!X)@,"-[-6$9J
MQ$9U6F=P5F#"[``!S@,/^&.[R`-7W:*H*`9H%*1M?$9")F2LR9#@3:!)B(!;
MU$8`OL7$V(9;28Q;N05(2FIO)%"UZB<3H0`)>&0+2.%)MD"!QH`&]((.^`*8
M,4TFZ5OBF40,W`)TU$(<PD5'`$_D\98M;$V"*`?+Q(`BK0!QS`)L]0;_401`
M#F`"*UP"F$8LBU:")5A",&#L+^Q"+_!"C`K#QWXL+V@L_'PL6ZY=_$ABRDJB
M'S"3;_E6CZ9L)$KB'6A!'UA!'^R"_-B>%7"`!_CLSP)M'NS",Z##.[S#-F@#
MR\S"BEY"TTXL*XBI+/1F>RG(00`*+7P`FF;$+"3''DF>P0Z/HN"6`9!JGGZ`
M`4@"X5U(OKH`H&8"U[1`.X@?^2%J!&@C!NBFQ&SKMH:`Q`Q``,)F_.UF;&KC
M<53K-FXC`-K&O9R'IU6+"1T#$2FG3R7G)A'@,)@$SN0%.T#KSN70,HB*TMGJ
MK;Z+X"6/8*U/#<R&"%Z&FBF1TAU=N:1&431=_].IBPQ([EA]0&T(9*LL;DZ]
M16\:[K6VU7QFH\<%KT?FE$;:AMX>Q[GFP(&V0&1I0`SX`JAH0-N<#>]8AW$P
M4H.P"K\:W=M*TKP24@Q`0DSV8UVPUG28;0<\[)<Z[<1^*29D0HM:[,5B[/Z"
MA\<*PS,H0S*`K)2"K#!45#6\#\AN42_X`D8!`\<^Y1Y&\"X`K0=TP`5C,`X\
MPB-8PA750BW,`BNXPBJL`M/2+YA&[=24`(4FST,H1/.1HDB`3.\(*CQYB!=1
M9IX&P`ITD@8,1B9"@F$JB@M0FG_H@+\9:L`%`03T;3:&J[4&+WX>[UO8!FR&
MP`"PBO&:!PEP3^.R2O]Y#"1=:%\*454\^10Y9M`.)&`%-89>P`-?T(9B$,,R
M<!6QQD;!W*IE",Q=*<S-?*!W?N.L2NY)4,8^$@,Q#$,B\P`[#@,[V.(',F06
M"QX5^V[A%JZVMHINDBO?N@6UUF<F=W+PFNO&F.NZ2N'TRA$\\$8CG0TH6H?5
M[)VW$='QG=9!?!;7S)-M0=C%;L>UY"F=:<#TIJC\FC"8$K,Q?VDF*',EW*\E
M5((F0#,R:`,R!(/M\"_&)D,P9*DP[&\O_(+^=C-^699EV8XD;#"71D*7*L(Z
M*X(CN/.7MH((DS#4JFC]QF^**H0.4`0)[$))V$5\B5,.S%/4Q((K2$*%X%?_
MP2JG7-#9"GA`)UD"++`").PP*\""H"P27Q)Q[6`',0`C:%Z8$1S'<71RM,IG
M?<H`+P"##"PL%E,Q%E^Q)6>R>:P0]V2Q0)918!G#&L.J+V?+.=X##^3I&+<N
M,1!1'']0"1`1!5;$Z%JGOLC&S\60$&F5,K1Q90R#A^(Q9LR#$B6&];&Q,K@0
M"_)N:,2J)._F9#HKJ-Z+?+:*J+Q%">@F>6AJ-N*G%ZF34!1HNN;`G>K`.A3Q
M?RB/=202&.;">(R&[52H]OY'P08#RQST@1A%11P@;K%'/=D"BMJO/=OS*C2M
M,7_V/9_PE[("9SL",V?"+"CS:M]OBS)S)6!"B[IS_UTZ0OW6-F@;<R,T`ICJ
MMM.*,"NTPC#7,]/:,X'%@H+L21![")I&3=0`B,<H\^[0F>"-5<)`ZSS5$RM4
M`GMH8B6$@`<HQ",8P-K,C`1:@B80<:&"YOA`P`#H)JAN:_">F3'`PSS8`SPH
M@[[:!DRCM396(..N4.\BI&3Z666H0P/Q5,'\5%P,!@M9!CN$BEA1X+T\D&(H
MW5;GL5XH0V2@2_0AJX#_56#MP##X66IX""'72UAI9R&'2WJ>.`OV]WJVBD!2
MLEQ/\HR[9_'>BZ2^S"C[=3`+!2KS@M&`X40LJ-AX`&/OP@H$0SJQ5^/1@B:@
MC3Y+=E'(A9+!3`M`@B0L^?\;;DTD9((]1^QH2RQQD[8).RUGR^_\(C-Q3^R8
M2^R8TV_3-L(EZ'9OU[E=]O:*EK8KB#`FU,(P8T(CW#9I1T0MO),F%$A<6%(F
MX)=0$%%Z*-*US$913&_:+KD.V)-&1&8,M*@!Y,!"H$W-W`SH'@ICJ+<P"L$2
M\SA)'\4*"6"[?(M>G$-O8O&)\_<73Z"%UP9EET==L`!PLOB^0!!ER(#9'L0`
MWM08439MI$NS,_4'8'B&ZTL)5$B`/!##F)QRHH>H*">)UX1-!-I3Z".LLH`1
M509WDIGN*B>,2_('"61OPCJH^NZH<@_12>NT'H>/^_7<^8*[L@,O0%XN#(@N
MV$+_7BEU&M9"\"##=K3*7K7`U8T1#((&@N\N\C'VAE;'UC"S::NYFK_Y,4/L
MR,OYQ\\Y:),YF6."(US";1/ZR^\VRZ^H*P2ZBK)":7]IH:]\)#!/7FX1\MS9
MF2G%=.@49;\,#QW(+LQ"]T5-#J@:1DR*H^2)NXEB+3"*E+%`+^S"#K!#JF^!
M%W"!$##Q?"*K\++`.?R%SLP*$O$"J7I:V0;`31,=K_-4;#BX!*ERN"2,`S7R
M^AP[@XM+V5YY4L<&!5YXAEO&AE=$#&B#U3`D-_FRN""]RP%68%W=#AA63M6&
M"U3U8'4GT87Q[B+[BP\X6E?@XI)UM)Y^);>*<LB`<NA`_S*D4:W,0Z#Q0AIB
MT2XH.E"6!S'@HMRY[VP@C`L0@SKL$'K`#,R@;R4)KZ:;#49K)O&%>9BO_(KJ
M/&<_;3$?<YN'-FYS?VAW?\N+_\2R?/F_?-.R/*$7NHK60B:POVW7=I@[@@?T
MA@[<Z;14NO8M`P]`:U'@<&4!!*0<)$A\(*$#5BR%LE9\^.`A82Q9'3ZLB-&"
MA`:%&R5:8N&"1`P9,M2Q(2(DB)<M0GQ`"%$B1$P6(F*&8,%KWKQA!4.X6';/
M&(D`#D,,=7C4(4T12TN4$(%4!,P/)8BI.S9,!HD0(#YP[?KA)0L6!9%^"&#4
M:-FN($!$?=J5Z5MC]^C6M7L7[_]=8R4*Q@C62RM;MB($J]T:0FW9IS1#D'!*
M&$3,$F)9E&A+TZ'7$F#?'F6;=&E,L(B3UF0<(FK,U*H;MW!]T=<\>>SFQ8.7
MDUC(&!Y:K.BME2J[9;Q&[MC!PN!HR318A&BQ2U(P399V:;*5:Y:E%C%70,KU
M/9<.Q"MF@9^5"1-Z3)@<K7?_GCU\^?,Q78K?GK[]_/7;]W=D_Q)'&KFD$4<$
M-+`113`9<+U96*DE/4P@1,_`]M"K1!+CL'(*-8(0*\$%OF*`Q)),9M$D!EID
M65$[ATBP9"-96G"H!58V@N0#27#\P`!7.%(HEQ;XVJ$%%I9AAH@@A/"""R&$
MB*`FU$S_BVDN=5P@+80J-S/KJ+/2XHRIII8Z*JH0;:H,,:^X\BJQQ(9Z\\O`
MPGPJLJ8L^V"NO/3<\QYE-@M!!TN"V6$%.0EK,[/.D!IAJJ\$6PI2L#(##5)&
MR404,]4,6^LMTR`]#:P27!M5'76PXL$X=>+AA;3,VHK)A6&&054=>-3A`:86
M8HAA%T@*C8R$7G0!CQ8=(*$%O&!(:"N&7%;,!1+$2-#$65EJR03;]2IA3T'X
M#%P//_G"E2_`^N*C[[_Y\"M7O_8*?-?=2Q21%S]L6<G$%?0@!-<11=2+I)=R
MXE%'!A%UB*$72%HX=(5@5I0H2$AD6<@2K3Z0>*,<'#)@EHT>_S$@DTI(BZ05
MCE:$A(1=:+'$!6*0]$$(+KQ@R275/L5,G7O4:8BK$(BI1YT2TAH:J<A0BZHI
M,D5@`:M)/WO:442YY!*MHX)=H2VG8!),3(?RY!/LNO8R2`=;>NE%!QV(+'2K
MQ*1$E*L10!B!*:-#*[JT5C]XBF[$6E7S:$G9A.O0SVY6M+467'B.'1Y<-&@'
M91I""E?'?-MUA2SGV2M86C31`9E::-F%IX;!"^]%9W.Q)0:'4E2]8H,L47W"
M]+;M-EQ'MF4OW&SI4_?;W_EU[]O^`JR0]PH/[)=Y3+J]-]],:L]$$04=H3Z2
M')299X<25K`D.QUFD646E*<B;V*)-/\@H9+T9VF!JQS2CR5:@S+9J!+Y*R'+
M`$C&CU$2)+"%M5HPC&<0P0<G$8,0@-"`-.UM*TOA2I5D<!06Y,P879+:WL+T
M&#+1P!@U:-.:OK+!H63.(5\RB#`(TA06"(-5>Q/3!,-6PSY9!E#!(%$>+-$+
M9"1#![N(P>0DM3?.J&5ND:$36XYV.,X,YE-LHI-:GG(8U+C*421\E%)B,CA1
M+:X%OI`<"7JS@H_LI`5!W$Z(=*`)6MC"%K2(00AX0#`2Y&!8*&O!=W2!,A"D
M['0HV\7I=N&0%2!+%KG0!$^\LZ+SH"<2F*B$(G0724GR:W>[TQ9^*J%)WR$/
M7)JTI+:(ESO_?N$'0<IK7K^<YQYLU6(5V,J6@B:Y+>IIP!CL((@D5A2#@\#"
M6G[\@";2)PM?6L)]<_Q`"WRDD-BQ;R.S0,@L#.`B$JP@!\0\V1ZM%8-A,`,(
M3DH"%Q#HP$D9\2C#B`=00N0"8]2F@BFDVM22`J:N$44$/""&#+JXEE>=DRC7
MU)LA+>&!+AEE!`<)"3*"L0MMS)$M]_R:#?=D#.0<!!+!>.C9:,%06W!#60;Q
M)4$\],"NN.9.@FG,9<BX@J=<$R-M659H/K2FGB'E,(4AX=[:HD7"1+&$4QE5
M"XC!@Q9,!QFC6P$/IO6=BDVF!<CZ#BVP1HR]'/([`_F`5,-#MEJ`_Z=B>^1C
MZPQ"K>_,8G(Y`,^U9!D)!46B/97@)'X4L;L+#8^4KL2=[O2CR5;R[CUR35[R
M_",@2AJV>M7#1"2EEQY91LBM_HI$);)GC`PV:T4M&$$+.A8+5R@38PH)8&AK
M05;R;"03C-P(*S20@TIL)P"0T`%1<E`+6>2`F[1H@3$,800@$($(8DA"`TG#
ME<4<B@1Y&M@Z-X<8%;;I4X]YBIWT"1+7+*LQNR*+5U;0"UK@(J13PX`F#`J6
M`01@!4'LA39:8`EM:(.A9$':H29*T;SX*3(J<V\._H*,%@1C99K`P#+]JX->
MN&`7:EQ611CZ&,?\-"K_U09@4@9?^%V&!?\[0%5E1&`IMQT1:L;E(%PX&$4V
M\<4$BK/2L6*@`UU4C)^SDX5N010L\.SO`^K(C8N_8SZNTF)98G4J&8DU(]F9
M1P,TJM9Y*I&)2"HB$DZN:\@ZV2_!+M:6E]P68R.TN\-*$I2+/:5[!-L>N+)2
MKLH[;+\4D:`$!4^6F;@7MCI9/4=$.1*1V$4Y=D`"7BI$/"3(Q,1D80FLR6\C
M%8L!H3,Q.4&O=G(>6*T'[L@;]E6BFA6912TP\D9)D`0+0$A@$H3@6P>N*8)K
M`8L+E`&/NL##&$1\TSS3HL0Y]<08RI`5,5S0L-$9!,"T"`81V[LR2R@S!"O`
MP!TUT0(,'`MEEEC_F21&IPUA`QBB\_6:??GD)YKX10<`UD0OE!4,2X"N(3G0
M;2\^1PMNQ'%&-J9%GY^C`Q:PU!?:R(6R8J`-34AB.TMA`3'B49ME=$_5630N
M3:"FZBE"^&9E\9YK?-)>M$[+T"#Q3E9)4`,6Z(!8F3-5""0!UH+,#CPR$$%4
MS=,;\.C@3R0_'5DY^QVV1C+/B_67F+%L("?O+I+;FF2]1OE6;NDN/E'F720-
M1-E3,J\]:Z:LM+?A[\@FZ+!Q9JLL$PM7)P-,&5F!D6@;TSZ%E/8#,>AL+`2<
M`V#*D30OVLAG:;215AB4C)9X-BMR@!@/U,+0(W"!#EK`@W8,UPA)4'P2_XQ@
M3J<MYC,WR34Q^NPF3!W-3C7(69_T21"5:8,$Q[*$)71AY`](VU<UB8&TY4@B
M#%AB.K30@!O_:^Z.QH`%VA`/!YU"0V[K:1Q;<H$,TJN-8/R%!,C8Q2XJ%@+F
MU[YLU-'%;$L@K-'M@AMO'':'7"`LTF&[2)]1IUW808P[B<5B1!&<FD#3EBQ&
ML7`N8L$*7,!J#=!B%DG.Z`I@XEVG@J#^A$SV\*3/J"61%ND#!@D\*,RL<D&.
M>L&I8H#A0`#D$@E:I*4\R,?)0B;/%"O/ZHQ"W&H])NM"G,Y`O`[,*F2RHL[I
M>$>PY,IZFNS)P(RRFDP3N*$;UF$=WJ$<U&$=M/_!K<YLLAPKSF2)LO(,"2-!
M!XPA*]:N^20A1O1H[:0)F0H-(QQB!"!A(V!!8PQB?A[!(3R`%3S`[5C!5VC/
M!7`%1-2A&1+/!Q;/"!IO*]9D3`;'FM)/GHC&*+C"C#BL*7QB'NC"&%R@.<I*
M%_I-$U9@%Z;/16PA=L`B14:/%CQ`$@J*%G+``R:1%J)-$C3!%`Z&%QX*+B3J
M]_3$3QJC!'A@5D2"%W0@^7I%64*@%XZ-%B3!H8:HC\!B$0GOC5;O$"V#)A;Q
M(CJ*C.`G*C;O'@)19RYJ&-A!'71M!^IO+*3B,SA(IR#E,N[FQ$A`+.R/%DI+
M5((AW@#L.VS!,5*,J[;_8Y]29ZIF1`>^:JH*!>42B42(I7Y`(`9N`3PD05ID
M[#R0\.L^\.NV#*[D:@A_SD)RCCVB#)*<#LJ<#I(@2<PJZ78V4)(ZB1:ZX1V<
MD1AFA2^&81V0(;+LK`CC+`FG+,\\@-?01R)FH2!"2Q86:5KF;A<&S9%VP6\0
M32&Z,`!L1"$JP2`J@>_$D!5F81=Z(0:"PQB(@1W.00OB,`X5+PY1`(G0R3,$
MHQKU4"U<0!W*3VNH(A`YTBE<1!-T0=T`0QA=)Q=Z(>Y&;T0F<?14!@-B@+PF
M\44@P;LF;!L`(REF"$]*,2^";S!LH@9F108(D1=X!2=#X%C*\BCE:!=U4;=T
M_T#84F;Z)*CZP($%8D`7)*$$""]4<D+7AD%5]B(RA@$OY*%4AF%+_H@0T<0J
M#P=Q"(+^6,T#RB,&>@TT2<#<5$=("$)%LNH#4*6I+'`[6N`ZVO$#(!`\SO!T
MX&>9@C,7GJGDL$,3.ND(DY`$@W"Q<HZRG*P[@\[I<"[G[@S*1C#G)@NNH"SG
M0L82D.&]UB$=UD$C3:40U:\$C&$;@K!Z&)+.XHRR^C,)6X`X2&`*DTPG8^'B
MH%`B9$%A_D=!H5,#FDD6(H$L[N<G^X<5'+0[/&"D2J`9VX$>Z*$=^H#QXO`(
MDH`*C"`"'`A2'J@:2T,IU$(&9(4%9LTA>"`9C\%.N/_RAER`!N[D`UB`%FK1
M%EP1P(Q,!J#E*`Y)$K['$B'A6"BQH+2!TH+A(OY"!G@!X;)F+#]@'``3+Y3A
MWD8C:]*0!U!E)$`B!#P`OA[*$AQQ91KB12;3^!J&&R0P*I(/'$+"%KXO!B)#
M!G3&!6B":5B3)HBAH@J"+8RD5(("\IQH-$"$![+"!#Y"&33@.CQ@^`I%=C8N
M%_CQCY`!/'!2!G8@!%#N.UH'JXP34$['$AB3D%Q$.FDATQII%C"D!K4S.T\2
M"0TRSZ1LL@RRR=[J/)-PL<!SLD9/&[B!&\B!''10'<9A*8E!&<).*Y)M!=)+
M*WQA'22!/=53EC0A9#1!/9/_4!(B`1(T(!KE;B%FA+,VHA8*!2:C!2;%`P3B
M]2<O-)H\(!-*01*2+%M)H&74X1GZ@!D,P1"PX$0AP`BN@`JF@`KR8-<,DP0@
M`RF8QK)V`BE((&?B81@&:@?HPORB@@<&IH*0QBM2I*&*):H,C2OV2#L(XF5%
M+Q-Y8Q8\YR)ZH5"&R#=.=1@(12NT[2_%U"[(-#)\XS%`8#)V@!?25,.*H\7^
M*XY$$=AT`2F+5*.0P:66XI!`#SEIL75*8%#-CRB:0DI0,QF546S(X@-<@!WH
M0AUFPKBR,5)ZHBK801D((L64X74@8>"FL6$TH#P4:5EX<Q\)HCD4L,<:HP%9
M)^V&_R61%$UU0K504F=%:L$#DJT2INH(TU4[/_`([^P#*REDPM-YRE-8N_-8
M(T$2./"'=)`=WL$JE$''9&`L4.,CDDV(@L%$R$L$=F`=+`'*'O)U&3(2S-5<
M*^$&M/,1BF0L_DPB-$9?%70%1D`G94%DZK4A5@!#%71S5\!&7"$[,*`WBJ(Q
M9,"JU.$=IH$-L$`,L``+KN`*CB`.IP`+J.`(.``8ZJ$N!F80:31N@4)1+L@>
M=$*>'&)D@<).4%,=EB6B7@K;]"L8CC3NOG%EQ)%:BA0IQ='Y(&%S#6!;M]4U
M:K-@9`#FB#9,C;8NQN'>@@49"(\O_J@7=L%.Z$_#9*4%M/_AV)+20_[+%1W*
M^)*2:0%0&X3A:FV!O0Q"G7;`,Q@#+-36&%J@1HUA&71L,[@";NDB^!`#XNZ6
M)-IV,EBMY@`W'I:!UUJ`9U$.[0X"/!"P,3S@.A(I&!JC.G.A]*+3`JF*/(@%
M&8ZI<ODX878C724!='FU`[,S/&4P/0&2="?+D-_S!KL!'7:P&[J!'."!'8QA
M5@BQ*1P#+`0*$O&/-V;G$C]`!M[!$G`@7#M)$Y27D4,W7:_WC[(71]PU0I<I
M%_#'(OZ'?'3+0&/$T%I`1S3``,B"8"-''=S!-JJ!&>8W">17?I4@8CG@"/*7
M"C9`&/""'63`#F5@G?H$.2QH\X;_(8$_8&3GH63S\X:ZHBFX0@.4SWO>J#(G
MI=C&+22$:(@,``,,P)\Q0-G\^9@-(-EVQ05\(67$D6B5@87K(F@,8A8U*AC&
MXJA<<8I")1QW015E)6B-XS!=0"2$Q$Y`1`<*I@1XI1>$I"V:L8*P4HE"0&V)
M`4LFXTO?=H"#)C(DY69Z`AF!@F])@!A>IV),Q;IZH7^:LR!`SEFH"BQV@-I,
M3E;C\8\0R0$QP@"G:E>DRG-(9S26R9!=-Q(>(<]PX',I"P=XE;+$NI-<]W4S
MH;^:=1MD=QW8@:Z?<1F,H2O+@9\X@Z1B(E`\9T9>+U0+(O0V\6W7P5S#^E>=
MC%Q?UQ)`_S<'P#I[DDP6)<&VG&F7%@(!JQ>MJM=:,$!\9($5IJ/O6H4@U'<<
MV`$>X*$=GN$7\F`*'E8)I%F:670#J`"W]Q<8XH&WPWEN8Q25P]D8](8%XG8>
M>$$M%GB=%=5*(NI.0B)S1&7Y,F=@DZT%-*!0S'=;26#9^GF@!T`TFA1+06<'
MDF&B5;BAZ0)INVL7@FWYM.$0F:@L7%.^_M`%:B!-.5J_BVI64,4XC*,&-B,X
M7,!PW`\U%/4>B.$H1`-J?/0>7-B+(8@QEN)K8"TK^&+@9&!V*L:B$&/UF`]V
M@NPY9>?<0NX#\&C(1(`=O^-)=R$Y.Y.,#L93&^,CME08#+F0%?];LEWW$2KA
ML0WYWR2A$JQC&Y)!&=8A'-:A'.2A-ISQ&3N2!^J/+ZRF_BI"`T9D]`)-`6-'
MK2[017Q\2-5!&PXYRCKQWS`DL=/UK+\:MSY@!*:-T;0"8QQT6;PW"M-K18))
M5'0`NTD#1%Q@!ZR5-N#A'(SA%R(6`B+`"*B`MN57#?8`MSD@`G";"C@``_1@
M!T:"%_!Z&.KP*,!9$+?$+(J;+LPY@96[@>76I)%K)%I=)%I=!BYB5';E(@B"
MH(O"\B0%B),!&62@AB_6+QDZO7^[NZ*CO8,!&<K2I0[B8$@J;ZZ2]^R$!;84
M=^O/VJ\]1/:F*N[-_6A*!&(ZJ"[:IN7_%H>,J(F61M@WAR_LA`2<=G86R>,P
MPB_JL1V;`CQN@55?F>5R@=,>@H\6)E^YJJK3*RX;(J%H<_B,H0>[,AEP'`DC
M^ZS9FM>[81N4X9+7@1RV@1MTL!S&X5JMRK(RW=KY@K!5'*;8!BS\CUCF*/1F
M09E0CKQ4KY"X4B1Q0*Q=U\DZ,7G_+<\>P>=Y/`>2;`6F4^TF!JU.W)$61@1N
M<T5<`1::+66RO"!H@B"&;]/5(1W8P1W201Q^H0^L@`H@P)H=E@,DEM$9?0_D
MEPHB0-(Y@`I>X`4:`(6X`D2:XYO#>6^18HL1^$M0W61]FQ@JHV?ZT(P*OU!(
M/EN!V%*JAIX8_X6,<.N_GF,7Z&]&[.0M>MIH<9HWIR/<!$4'M*$AHJI(!85T
MG$-(,*-H/N-B04<'3*PPUH(JK.10)*@F4%.=_<:?2,C!@T8TSITF'#P>=F`I
M'*,I`MT[&FW^2&=$N%M5!X($AD4X<R".?$.J`JC+^5($$-$2($&(")ND!$]#
MK%A5`)B3$0;'SSJRU35=D6$CG_%:ES+7Z'H8I/R3T9;!K=M8A(C=MAIKTDY5
MOP,@-*WXT()6C`\?-.62E6N6I!P:5I#XX(*=L$@X(FF45$F2ID@>@R&3)`D'
M#I*/'DK,(2O3BABS8LG*L4*2K%HY)H;004M3)4@Y6DPD031$B!W#AO\1,U:.
M'3MXYYX!XY6'R@8C$2!`X`!A`P<.1ZA@H4+E#I8[=SB\B!"!PYVU*%"$`($P
MQ(>Y=#_DE1'OWCUC)1`B9,'NWKQA@@7S,$RLA&,:ZOS>BS>LA(C$B>GFQ1S#
ME@[,`>Y.'."!)`9+M&P%\Q",A`X9CO4ZMDQWG.3;N'/KOJ>.Q5T=O8+I&!EL
ME[:),6A!HM63U@KCNH*M>*XC!M$60B^7<+&KA8CO(D)<!@'"[H?OQ-2YT"N"
M?/@0)8;Y+<=+A@L6)4BTUUS1[SC+Y]4EWG<N1#89+W.1,%L)QB0W2PLAQ-#+
M"I#L@E`.N61H"5&U9)B+)!K0DDLM&I30@B7_L^@"'"V[Z.="?B1(9%0()+@@
M0PLN[$`,._/$$P\[ZB@SS(TN7)<#29!$\DA&.!R)S#K+W$=4?E3*L`,)1A$E
MXTZ[6-(+"<G1TF$NEBSGH24#Q:@00QE*0I0E.1AER4)TWN(0!A^08(PR.6`D
M"4@>26+)D^S(D\R?2Z(45`XQS2+1B;>PJ(DF.A#E`HU$88FI##6XX,(PQO@8
M#SSP5&,,,'E,0197$&``05M<M14!%6"15185>=PA!P<1K/7"KW)AAA!Y<PG&
MEU_&3"18?_<@%II@.R!KF0@ER&#@/<>P<-E=W&YF7EU8ZF!+'BW@65<.DQJP
M"W.T>*"))9H$D\.7_[R\..QLVUZ[V[ZY]78>C3<6AXPFM%`;0S`8T"()))K$
MH`TMJ.W2F3?!Q(",-K;L4@(().S2"PN\[**#R.+1!:9O(0P3CPOMG4>L>/+=
M8\]D\:BCCC$N;%:@7_[:%1YX1K&PC&3C%$EM?BP8LP-JD-34W;L#[>*A9^)F
MJ(N78B(30Y8QZ(!=D27LL`PQ+"C(@@L\+,7.CT[-HPXQP^QP(Y8RYJG!D7A#
M\E!&DO3"C@SA9:HE41QWB=HLED"(3"Y73R>)AV1V[*$N'B`T0G*0ZY)3A79!
M`KDL;-)BP`<[E-,+1I'T29(D3\[CNJ$YG/10#I#HH$DMB*\G`@D>>"T4C?_#
ML,-#D2O8".HR/(H:SSC"`*-%55]-\556;''%*UNOLO7"5[>BE18'*$2P`K`-
MK$";MRT;V]=?@2$4`&&&(8;98O,TAJ\,QA2FWF4AM+!+B^&)P2Z",2$2G`@9
M.I@3<S2A+`]`3`?NRH$E+.$!"EJB.];9@;WNXBD`?4!?_`HA;UA@%/Z9Z&#:
M0`:-!H@!;>@@@3I0T0IH$0Q(7`TXJJ'%<4#0`DUH8P7<``<W=`&.@7R`!<'0
M!H1$P!<9T&4\WS%*S'(S#QX4"P0[XTT)YF*7\OPL/,.8AV348<79D``I,8A8
M,%K`$UKHP`!MU`0R)-:+7KRP!2R8#I9J]")-;2?_C*X#TMIZ!`]V*,,8>U):
MV3*5)\$%AHTD.9))_G2D;:3#!0F$ER2"80N%"64%P8#<A@AB"5MXP"XKF(6'
M&!@#R+GI`R4X&.1R<0O_O;(%JF03Z$#7HA*HPQ=]2@F@>K$.0^J('>28722#
MHD<L50L_6:I6_OIBL[7)@U3J.(<QJB$58+R`"FR1%:^LUY96-8`M#3@G!GBU
MO;>X\U<OP$`#4`#/N"2E2'H9UK#VLKYD/8LBZ^.%^Z#EE\8<C7\[J!D-+K."
MA^5B0L:AA2X,(BX6I5$7DF`.GE9@"4F,;H(:\)($TP@).\(G-G>)`6SR)<*6
MCG"?Q(J1#G:0)^`41`>0_[!$#+U&PXS&8`6:F"@MD$&"$;1`&VO41<8D.I`0
M[$(7$SJ/#)I5,J#!S"_RB(<8_1*/'7PKB^K8HL_$,R#RN$`9MS&&>!PC`A<8
M0P8"C(%UP/33/$U'(@H2G((<XZD=V`QN23&&.H!$C/0$"9&^X,$.S'<VO"H(
M4PJ"9:8@F3>@Y.!(R?A;9S+4+A%-%$NXI!,D2%">'-"B!729H8><4Y!5#F5D
M<Z(3F3RF$YXLA$T+V1`)E-&-'#Q";^AB'91>5((=719OEVT!TCRUHYLE!53J
MJ!DOGE&-<ARR&;^@2@QH]19:50\"O@IG!,YY3K9@(`+R/.<*>O6"=\;@+2J(
MR_^O5H""%83J;;`IF;".]1=E?2``_3G,0!$2K68MZ#MY"A7+2-F+H9K6$F%R
MEW-"`%31>60B(8($0B#F+DCD-(T>0.!:V^<:7M#F@RX586^,0IX6@^`[$S%1
M"U:@M>"LX&K!8%&.I\,<9%3,,IWI10NBTX)@Z()N"D%&"P83CV0%J#WAB8]_
M=L"+I=B,!_H$*PN(I1>R?J<\6;S'.$;LF,*2,#PF6(%=S$:EOM9@!SP8AB\0
MJ0R;^2BZRKN9E#S%@K(%)J];A)%=8-1(P1!%!_/:Q4DNF[H<).,=Q"!!;&U!
M`L]EJ%(D$%&&1JN7'B[Y`P:8$T,>E&D/O=*I%;/%+"__J),(6>(6GYL%!D)@
MC'681'8$[`8[:K`"&9R-';/#FP[FK(QE#'94ZH`'/5P7CW(4`WHOD,&J.*""
MMAQA>]I;BWEYM=[SHB"=X`:W/,\+3PS\"@;SI6]<8!`7%!A#,O!X:['R21?^
M.GE9?9F'0!,3@L7<PZ!L=4_^%JR!A^GB?RHB@2TH!3&$%*0U[T+.+""!@4Q#
MC!8Y(*#_7K*"[UA&6;OPA0=!F.)^:2LO)03/9:C52`,*I1<8DPY2B8(,%NF@
MXZXYN`[`,2%:<(.T,X3J"EY,@IIM^<4O+J%\YF$,T92@SQO+)U@#,]8OEBP$
M;BV,6ED.@NT<<DB\L-DAC2U(_Z<X17D^`I+-%&DCI?G:?(Z!#XT@.Y1,[8XH
MA:[["%PC"41;]K)Z(^8\2&"3#(')0ZV1-)TVA$KAK-G2EU9\+FP1@[RDL068
MHY,;E;4"H6@@I[<`G>CTM([4]2(9Q92'/)11`D[VHD"]`/PN<K`+9:B]':;2
M0PSRT`=>U`<M7UG!5]2"@J^\@)[#1P$X.4#?(ZAWO,7W=@2^O8)YEJ]\XH/G
M"V```W77EP5Q$<&[;Z,.&;`X,?965FA8D&_Y_5,^\JC,0=DCV`47N7:2-F4,
MHM-&HCAP%T!E"7:!`9IP"YK0`AYQ01&A*7<Q(&9$`KT@<BQ5<OOB+]QR%U^T
M+<(R:/_8@26^H`-&L7^VH`U;$P*]P`TCXQD%H0US40*6<'`#41[*0!F!X1Y1
MQ`O((ACEH1=Y@44&TAM<YD51E#XD@#_$('>Q$0+6LC;P4#-F9S-0J`[+8`R%
ME13V@2-G4Q1;Y$R.,25X)UDQ1FB"!A\C@!#Y@1`RI0.S\W>7)0GD<`\N@"$9
MTGFJ%CF$MTHQ*&D6<A>6QA#=(2+*05IZD4;6(349PA`"D2>]\$IYD@.PE@E$
MH0SEX`O*(`\S(P]B-`Q#=C4ML`RQ=UPOI%)YL%TO,!W<5E]4,%\OH`*K&#[K
M1$^]H@(K4&W'YXKUQ18H@`'5]VUQD4XA8'WS-!V_P@*ER'W_]!4"<9%'1N%7
MZ\,S,J!/")%^B1%@^R88*3,9\A=WY,$"-N,;!$%`$](+$Z4-!W<BN4`+=M0N
M198#@B$AE4)AWR(L'F<B$A$,PJ`M"$%R%#A&)&2-+Z9RXB$L708T.M@_KS$E
M,O`Q.[!&+A`,^Q8A-7<0+Z8R9(0ENS,7(K!T3;=/^R%U/RA6YS&$"*:!=Q$8
M*A=%+)`V0])G?`8?>:4IFC)BT?1GDD4E8AA9-0F&1M$^A98E-?5":HAHQX59
M\B`#'N`A/Z5I7_(!<B@+IT5TO=`B=W&4IM8+&>(0IX00H)0#'!-;=&(AE48+
M&B`8!J!*H\4LJL<.Q@`J7;5_N7"`_YZ8`R\DET'Q`N537\`27[\BB\7'BL57
M??05`2K``2&@%GX)/NHV??1E?;PX3[_8`+^H;O0%?C#``I49%\CX=):!`D0Q
M#.JP5?V53]&X58`Q4/#S;^81&K0V&8!#+9ZB("H#&`Q%,$1U0`.T-3'0-S&`
M>8/C/@'PF_\E&/_$;T<C5ROP#+R@'_FXC[L!A!?X'F45CYE!'IA!%R&P=SR8
M*502(Z25%SB")685&<X5-Y81`CCX%SS(@QU)$3^X9?Q30O`!2]/Y1#_#@SLY
M+5$T:'*W.^4Y(%D2G\Z$A%0"2_&)A#7I3'E2D@EJ'GN':',YE$(I#/>P`RW@
M(1`D(K:@7/\?H`,>4@L0DB>[\$H\1`MLHE,*P5D'D2?!(`GET4.'^"&_02;F
MH@&S4`L#X5?.Q2GX(0/+4`-6^98%XJ!S&0.U>'S'1U_`8J33@9?M=J1,6E_T
MU&Z$V6Y4"IFSUHO(")E0VF<KT&=>JBDH@!_UB77*,#,O)9K2&)S<.#,;*1C<
MR!LLXQB>B4@^4AG6B1T=]P&.U6I%)9#!.6"A`9R8X7$BL'L.LU++R9PFEQCA
M\8]#*"S4B6#0B!!0UJC_B)\NQAXG.46&80S:<HWUHX,MTX-3MW(#HG*BJ8.4
M:A2B&9/761?O<5"!49YY$I^!UG6P9!FSZD$@*7>#]A[R.6@"\I/_0%D=H#AL
M[#`,R<$0@J)4D-`RK<40UD$7:<1YFM80+:`!D*,):]8+EF"='F`+)3H1&&(+
MB1-2RK&,&H0E:/AT;R4UT5$10GI',P:E]#6+%$9/]PHL\@6E#5"+]!1?_=IN
M5BH7R(@"`X"P(9"P1M%NYA.F7GIF06-5=9%0/',IZ$>:_G47:'6F!.87RZ`M
M(I`TY/<BFZ%//7BR?AJ<@AJHPDF<EO$2N^`-+[(MA:&HN-$;_#,L*?>HD)JI
M*.LR&/EB'S`"X"&$U.DSVSA^//.I,9,.&H0?8J49[-FT".:HA#H"5)M//V.=
MB3$M#2@81\M6T#DC@<8M^.D8Y!%9=E&@_[EJMJW6MM\")L4JE]D:>Q[`"_!`
M#*U%)I*@"^=8@GV;"R"8)YZ&AFMRCA"B"PPA"[9@'NL2D)*#B!@F)CTQ,EEY
M@88[,KS``L3@`N*8"[NP`WPBI#GP4Y@)?O<*I7&QI/>J;B'P`B30I,@8NW(A
M%R^0KPJ[`@-@%)#IN[4K%^"G+1#;9S,RLN'1+1]@+7X!#SFS&>GGLB%`#'XQ
M#[[0MC)0#MCH<6_*597A00&2GJFZLL,ID.6+@8[Q$K]P'"AULS@[1NO!LP$)
MG9#*@RTFCQCH9=2"="8)JSZS'U@G6#WB+QDI&<RV=L.P90@!5ELR+=-"%]`T
MJ<#*J-LR'NR1<O]4EY\-N+/]22TK%W48R"W4$I!;9&@YP@L[4#9H&`-RR<*+
M@F@M4$?6U4.(B(`H2B.:,*[D`4HI*GD9LC77F@L_10(Y0'DM(WFGI:>[X`&=
MQZY_RH>+*"+!P`)#L@.ZH")+<;H:8*PSEJ]J%J;UA8PB\`(D!,8'>XS(F+MJ
M-C[P.!TRP`O"P`O3812]V[MT/",S@@*6$;$CW+-UD4\[``_S$;_&HK$OVP(&
M/`Z@(LCWH`SN.;+YXQ0\,!MY<;5/-+XK.U`NZ[("R5849H]LA1#N^[XC1))>
M=*KS]K/C:QXK]R]1-I#U&<(#@H$Y,CQ;)`*\`)JX\3?%DD5JF11R(P/_]A&G
M#+(,OH:@5>6G)"FVQUN?IWRJ@I&VK<R3\JD=701+2>.^%6FX+-PU+7!9=W.Z
M.E`.XV".3KD"')HAB6<)X]I(.B48D)<+&A9;#$%#YF@0K%IDK/;'FDPC:`@)
MMD`33Q4,G[(#^T<++D`,P@`1H;B;#VL4:RP>]24">CS':@9^M_O%!RL7(D!?
M^-.,]"#'=XS'"VNV*.#!LX&/&"BIXE&$'1N:Z-=/TOD!+XT;\6!^E[H=][%6
MR>LR](;)Y*O)+/M?Y?MBM+$"O[`+,^!!H_R^ZL$M8^5E;5N=0(L94IV!`&D>
M9)5R7H2U4>16QV;3-9`78688/=(C3K$,1M$?_^Q0#E1(4_^BN2M-U3OHLQK8
MRE6W5J[,J"(<D$E7`LH@1J,B1NS@5084BENL`5N,>0*T#NI@CN>H`2TP)LXA
M.9PU=""PE7FA`V,2.3$T.7V7&IM'G45A'M9)(]\\01/A`;,P"Q-1$TK$`SPP
M9,@@`\K@"QH@5]ZL`441T6+<<6M,+68<-'C<<5ND9DI8#6+4A-2D!R0](W:,
MQ].B+3,@J2')/S(`79)1V,LL`X;,L@!6B3D[#$I[4"UV-)MAP3V8R8`ZU$]<
MG1Z\.TE=`TQ-RO"[+=8YA`'IIRYVLJ;-1:<*G?\X;ROW'E[]121P-D@A6-&E
M#C7@D2'$#O`Q#(Q<O?_J(-4[:(WA6YU>%K8^,Y`%"9`[2Y+J;9TX"`_J(#>^
M4!CC4%2,W36YK0.YG5R9)0.><Q.[J6D/LA.KA5K]TS!Y(8><]26/HR$S)E="
ML4_\%B,>D%,A*JZSH`$A\#BF,#H$D0QHHXD\9]O5D=O>+!2N2D*WW-$4_1V?
M"H^UJV;\:;!)(T9O]=&-C-PSPL]X?))@RQX`0FNZ_&\E'-/($@+GF]"?25CF
M5U7F;89Q1ZG4J1DJ&]1_NLF<K*EJNP+`$`,IO"W-2,I/[8]'V\KU2YW5Z<I5
M%>`]W=<-*%<DW3+I0ZF.<38O4BR`O39:I1OJH!_,2WZKZM\(9MH_W<JF_-/_
M6ET>,V*=FT&T#7B_.Q.R:R8??^-RU?'-,:#80<%&-8XATJI:D[=D*^!*,1(,
M:(*&BP.XS-$+--(UTUJTJIHE34P"P:!*M"0)&"!!N>`!))`)(T)Q6"(#*Y`4
M*P`..L`#Y.`UT;Z;01&3KBK=?0QC9&61X:'FU"(#[C`/RN!,*T"]FQZHSS*<
M=A[*E)J?3#L9@#'3WMVI_E6^-;)(%#Q_>`["%WBRC0X:[?W>PL)7*Q0#G6NS
M]GVQEGR24<3?1+O,(LSS0#/T/X.1,+<U7W2_C8ZJ=<%7-F(E2K$4QT`,X/$I
M@]6$R@#+TCD>C8ZU/ZT98RJV+M.1H*ZJZ2,#\"!@_\O"(U>"';L9[6SD-<"A
M`_7'VAFR"R&BSCIA6E;C,6Z4(*XA,KL)GIF1&;OC/ZC!')6R"[-0HFN&<:G$
M)H@#@"4@VR[`#3%`#,K`1I+M.TG>@,>+QV?>QV2UP68;'M$R#UZU+/<`#\_(
MWM<]CU^&YUE(#$UX,S+@Q)B1DG+C&QE/U/P]+++?\2@EM/P,^W[Z3Y%NOR0`
M#&JV"RX`#$Z$$)GNU#G3\3P_TZ+Z\MIQX*C*8F,5DEU2*<(.K"Y_WL<_K.GS
M'OH!'GER-O;AGUH=UQ8LFO1YM/8_;UI=])Y>^.Z1M``A(]Z\'1\,?G`!C^"'
M%@UU:&BA(YDR9>3(&5NG;/_%KEP=+07KB*S%"!<N0K2`I$F3CA@M2'PH48*$
M"U_$=I0P..+#2Q(K?)8083`&K8ZR9%EZ:<"2K(Z52`0P`"D&B4I,F89LP8(&
MBV0RC(U[V+!E0YT?0IPU>%:M"+5H#YI-&R*MV6'WV,EX*\.NBP\!WO[]``*$
M",(B@`(%89#PL&$E7,APP<(M7,"`_1H,X/?R6[2$8PI.'+-$8LJ425>NK!DU
M8*"[=JV0P0*8#KD?V-W#G5OW;MZ[V;D0,3AP8>)!*PL.:OQ@V>+-0Q!^SI:M
MW&"6=K6025QPY>"$CW>?WCPX:+310=26.]C[Z<"@UQLD+?CYP<3G"[>O_S;Q
M>AG_MXF]W(F7>]1Q88067&@H(F7DD>>>>1R\1YF(+*%0!QUVT6&%F(PAD`46
M'G.!A-IR<H$'8F1:H848+(QA%TUHT022%@PJ(8=:KD)J)TMR86J6%4CHY<<0
M=N3Q*EUZB8F$'5@81AT=6H!(Q10!A&_$P,RR+[K2.,L+GGN&J8T$8@;$";/5
MU/,,*.,&*\&8QKR#;\O5WMK,S+<.#('-F-HSK,P/I.-R3M0NJ_,O$&+2(Y@8
M9"@A&%Y(2"R>WB:E%#<"21./+3D52\[0/T?+U#NY-(4S!&1HV:67%G80<CQ/
MA9MS+1%(*`ZP42=3+,_@KKQR/\*$.VT_SIXC]M?X>AUN_[L/6%!GP&%^'.8V
M8UY*4,4=V&%'F:\X')`%$KX5$:U#B5%''6.(6<888US`B8026O@1!'=):.'4
M6G+111*.>,Q%&UI!6($H'FDQP"Q(;I1EEA8PH&4%@SR@Q:B..J*%A1)TZ.4Q
M=7:HMJ5OYQIQN_5`.Q.TQ%QH%AX95G"!&"^)D:O.0OGTK#!,2SB&!Z#T.\C*
M0?OR*X29#>IEE[-B<F&'EP[];"ZS@O)Y3M52`XQ-%X+Y1<-@@`%0TDJ_UNVW
MH!*+KKBHZ8/:T[)#A0XZ+9&QKA</D-D%&5XR7*&V^F`=S$IYX=KOT$.U@T]D
M^=12C.17!SNV5T`#*S:X/'GEM?^^]$30ZYYXV%%GGGD(-,B$:I511P9W99)!
MG6'&#@VHYTA@806+=QB(AV]W"4:'4RV9*K`6B/2(A'T[TH$G3:SRT2P/;N%Q
M%@\@N<4#@Z(JZBI:7(C!EB-=4(;C:ET:L=/VVC./<<61!:V$8;R41QUV'M1(
MT#C1%$V^F%APLX3)]5/VKZC]NM!F-@,"C^G`%S$(1B^6QK2#/$Y^JR'4F3P3
M`@3&@`7.$$;>/N`UL('M-X$#3V'.QJF^Q0DFD&*;S:#6M[,$`Q+!"$8.D-$+
M702#%MK01@SD\JWH3$YO9OD6<@X%$_6,`%P&F=?3V%(B'K!K/.PI')K\EBSX
M)(=8N,K_#WZV0S9RY:9]>#%(@DR@@^[Q\%MMDD$(>O*2#Y&@19*`H=%09@QO
M]2(7M/!`#&:1"UM(HC8ML(55:$&O>W4D&#R11%%R$0.AS$)B*<E%#@Y"@AQ8
M0A<3LT6++AD,[NU``RE*T(]`AJ7A_`HFE*//^%@'$V[A)A[J8,%!IG8<Y/1I
M,$PREPR(H;-O:4J-'Z,<!G9AB2#YSQ*2D&5:&J*H76CC2"(95?T4DQ;E/%`U
M0_L.4%;PBQB@0!A<TPD'.U@IL:%-/*@QV=Y@5Q+]L0U-;3L+">"&#!?"$!DQ
MT,2I)/&27@1C(T]ZDDM($P-DF$XP(P`-I-[53QWLI&Z6*"7*_URYC!"=+TYM
M.<^K.F6?/_5M;.B[$IS,HDMU\<!A.:'7@72PKACT`A*N6<$P$$0+FI[.!<B8
M6"X@RBP>A$`'MKCCMR`QL>)](&#\H@6\!"8+3?!DJ!.3I%$%E@M)Z&`6D/"+
M&\^R$:#:XG>;E($R?&$`4++`)53JU*C^=,JT_3`_KIIDR]2E-#KUQ:Z%0A/3
M2K""9FG.1":I6U$12(MBID4'-*6%)4X:@@$8-48AT``D(#&`%F@#5=J`!-RT
MT0M4+<TPNWI:^!XHJ%FBS76+>@$,\Q8"<8YS4N5\)W%&.)R.0@Y$D%%3"C,J
M';8$8X:6T$0<6T`+'1SS)1\9KFMP2/]8@ZP`)$&BEPXJ>DMAZ$(7.K@839'Q
M-)SMIG2ZBDUVTK,=O]6R/FUS(,_FARRS_-)G*6U!37YGB1S0M`6QB<'$IE("
MLUZ2>"!(G4DT0;&7Y*`H2=W)@">F`1(<KR,*3$P+%`D)).Z1*92(B@))@`%-
M8`")0]5$"W9AW5[LP!A3:8CH?@0@N;38/=`!`4(I$S++07$G,AGM6QS#*-',
M8$R6<L$,1+0+^_X.1K;8!8"&NQ*?J-$#DN"=!F81`P]8@J8Z@)@D/*`-26BW
M!0E\29]VMM:T+8>T=[73G`C#`A'$(`8O>`8P',9:UWX-'BXXEGA&J"N2S>2,
M/&!SIA@G6ZC_4;`AR.`&')^45)?*A;#)I:&5=4$M6NB"%CO0'2V0@=U#D4`'
MFLAD9341`UZ,JC^\(8;DRI6N8>P`,A8#+<](1C;I$*MPJ=Q;-4WX%B/&K@6\
M($9](4$"27B572O88RX46!(#^'>1(^"!,NBE"Z;00@,,R:F&07*5')"`2+J8
M41AS"E$=\<LI!HB!!AY"B\F:9<1(NFG&B"$A>J7(K"(BC:YZIA[!H3*+YU%/
M*B$(-+N^A07'4,<R`BT"'MSFE12%FO!TX1HD#V6?.^ER5!V*6,G2HJ66\(`I
M+`&)AB47R3)`((39!-JV"3S'?\'FGPB#'1+DX07:R)I9'E1G2I4S_SQFL[$)
M1S23%D,FA38C%FD>@_)=Q,`7*N*&<R%Q%EM`XK#X#/&(C>=5'7!#$R-NZFCV
MB@QMJ,@6"MQ!8T,P#'G$PQA>44<\>KH3<<X#6^4RR4$<XZ'18.DY66)+%ITV
M/A.>!W%OH5>(B#&,H5)X*/L=RL!8QJZI0@($/*"CA"?F`1`,=V*#%!Z_<O&:
M`;-[:3M1Y"QJ(XFKS.(E(8"$)3@\BQR$8`56CD%,L,.#9?!B2BPS`;CV[BT7
MIS,GJ6S+_C(ZK"#:B4F[3.:RF@7+^QUC0+%Q8F(\354K-X2PQM/$23]@<8CE
M@,@>B)&W);'^%7R:Y,CPA6\;*O,9K,>45_\JBS717%?`&"9#(=B%/'`&9UBM
MUN(YW8@'/-N;V/JH_H,K-7*B$C"Z4!FTMLDHVW,!7I"!`VD(7UB!7FBH$-`%
M"DDJ;?`G2S(>9)`XVK`LX!",%=`$?^&LXC$:5OJ2UV,!BFHQ`\R--#*\)GDE
M'A@?6BL;M7",'2"&).0!1J&2!C(Q;>&+N)H)7^"%H?(C;RL>"B*26L@]=E$P
MG0*!EKF8G)(D$HB8CN#"-ANW?;$%18$4LR`*IJB%VABJ'KDV#K.$WTF87NB%
M'&*!Q2L)TD&0GKBWLS*&>'`'=:@!Y3`/L=N.O9*!82`&-Y&IO(&5@YC$=/$3
M@^BK8_`9%[@-6#K_%&:YAQW0E3&3.,Y"BI^:.JEJ*B3JLA7(`4UX,FNCA1PH
MOY$3'BU[D;M9$EVQ)4X1%5U[N5DJE,)HNHW(@VGXA1=XCIT[0-Z`+<-8.)M!
MI9[Q'Q:(#1D`M*.#IX]J,=C9`5YPM9+($(.@*5LH.TOKLNUBB,0"$J\B`5N@
MA9B8.1,D@6`(-06"B668!\DP#G?)$Q+P&GAX']WP08.H"]P`D_,JPL(@@=31
MC0?YG&%@#6/`C7D`(R2:"1:@PD1""A$+P>)*MB2+B42B&(08!C=2I&`HMXDQ
MFA6XI&JK,G[1A=HSB`%C"ETX*0]PI%QP'MBKA5F(+$VPCI8H@8:SNU?B_Y@?
MD1T/`1>,O`=XV('D>+$G$@%<@L;<*)U8,PBO^0TS"8"^4H>7V`Q2I+X2J(';
MB*65TSXK@X2S(S:/"PPS;)@=`BX,.!4-`"X8G(6^E(2I<+.>D`$D)(80^13$
M**7WF"VJR0S^2S/""$`,R(,[<(9@<,80B,9)24#)60$.H((7V)7WX)GD4`YY
MT<;8<*?N$`YX:I4^R4!7V\`?\0`,>1+KTH9["B.:<H%=L`7KJ"%:,8SL,1K.
MPA!:.`MFB8>D@YRTD)1XT,`=&`9C(!T?E(N%_!)AV8^S*(P_O(U),08H:A-7
MVLB=(('@(P9>6(JFHH&&4",=D(1D:ZK@&![D5/^?$LBOB8$H;\NI?2(!9\,%
M-RHDG0(0(F&*:QN_6[@*2("8O\0`>!&^)C&7<>@]%S"!%<,.FB,!8[`'S:&K
M\T(O$,`?'G20QO`?KTG`O^@K9:B-RP#%;CD4'O"2MC0,LLF>7AB*/(21<",V
MG;(Z!/I-&(F!8_J`8;($!H/0%`&EI$&0K-`K3/D50&E,")(9_QG./."`/*""
M9_@%#S@+$CW`.VNQ"!""(*""%2"<H&O`D%(C>Q2/V"J6/S$5Z`JS#\P]E@&E
M15&1(WF2,.G#ED`&6P"'/%0/GP(''1"!GZ(I;3`(9E&'R1B-@904E9&+^[$8
M9<'.U3%-F8-('F@M:(3_3E0J`64@3\1[%Q;@!5](I$'ZQ;/8A9H$2D9*U(F9
MM!*X"9G$I+-XJH[8IQ!8JESPB:E"L`]X*J:8/Y^<F)>2A!P(MYU8%9<I!UY@
M4@39JV]A@>`#EQ^+AZKT%3@UAJU\3DN1`6($RR@$FKY:!K,\"!8(18M)RMLP
M1;?,Q[)K,'K4AH8BC7JQ!75DB>#"D!6(@;P9``S```,P``S8,*=L"%LMB0,2
M,Y&YC\$[,\VH4N[`SS?#4IP+6,W<3-[HS!!``2`H4R!X`30)#+ZC#\3)HN?@
M+^<`#_.QC^FH%V(*AET83I&X*#62G:Y;E!W04^R)`1>`#0OY$369PAD1'GJ2
M_U5F,08K01PZ2]$J8DSL)`9D*;0UZRMG@8Q(7`;0T8\-S<CR%(T2X`5>0$DQ
M>3NE:;I=+:H6<#:'"1=GRX67R,^.&+8/F*I<<(D=Z9&F&[_J"3$@F05:6-9O
M&0"Y.)!A6`9L<3N.*8D/N=8UF@F9D`FIE+LW%,;NA,:-*8E(3#C)<-J"C*6W
M0-=/#$6Q6TMG@37M8XFS^#(WY`R`9=9OT0`,6`&$+5B"-5@1.5RX$)[7R)T^
M1%1[Q!3WL"C]0[-KBA/"N-T(R(,\T(8^F(H0V,J.U1P92(P&\`$JJ$PT%:$0
M>`$C>($%.H\DF9\0\)`W[8X0T!\YE=.3>"$KBSHB0_^&%8BQ\F*!#!$!GY`=
M&2A,QA@&<@1@QM@!'MB!DBB)H`5(9O%$)8(Q.A/36UNKQ,C4+3+-PJ`=<;42
M/P,,$B!5!RE/=_F0'5#57*B%F%*'Q1.>AD@VI.B\J6*DG1A217*8%DBVT1N-
M71T]$M#AX$1)BDDR"%6+F3`Q]Y&';"''E2F)F3"!$`$7;,U6W*#*-6DQXN`!
MKC371F6SJ-FYL+RK%<6)S7C1M*2!K%T&1H$:#DR0H&W2[U$1-\N*'S$`$FBL
M.0&27>`%;O"%7LB@-('8^!"6T8J@"+(5'OK,7]`";\@#'>)8Z\V-CVT`(V@`
M]-4?G"@,#NB!#2!?F."O\1+_`78"NN"8"006D<>)`2AS(62`!,L*/X`)V-5"
MC_[IF3:5B<?0P!K8@5S.9?_U7Y/(2G4XAAF3T_-XSG'M%>&HC6'PFJKME.G@
M3NP<A]'M'[*A#[`%81V;%UW:EQ7@@954H\#,`0M+*GF)PUS0`9T8"AUP-D;R
M/!/6(1#8%Z9`BNPA0V_3A&7U@(_9JJ3A$(4P%V)XNC4J`1-P#,>P4'`YSR21
M%\OEUBHACA+XL7N8%BA*CQ/%#788W8/HJW&(F8,88[&#:`XZ!LDPB*7;VOMZ
M7`\IVM]MPI\9@)YPB:K:`4[ZM<-03)EKL4`19+'</V?]EA?(`RO0@CY0Y(UU
M9`0$_Z,(,`(4\(P7<&I0.8(>X(`?DHZ"CJ<:J$:SX3O^`HX>ZKS@<BED@",X
MHA4=T`:5:)$6T%F'Z9^T@<A^RFJW42/!8.!;$2%B=A`W@0QVT1],S8W5:<VU
M$8%AV#E8&JU1+=5)$@TDU`'F.9`0D0E)Z`5+&-!NXT]>E0L=6"2^';T$8XKP
M^Q,=KKJ-(`K"A905.Z.D24+2*9=Q$`9?$%J$=I<X]I!CDPF$OFTQD>*>VD[>
M8M^(5H:,AHM=@:)R%<L5;>D753C1<(%O%=>`A(O#R^F>H85#HIH/,``HH:1>
M,$H$@A=?2!*6)5Y.38P1B`G9F=+]JUB[<J/8R0-+T`)*&/_`1<Z;HWYD7XYD
MIMY?*B"")!C?$H``J0Z?0G4,>/%?P5XS&<!EG#@4)R(B>:&GHH$;UU`@`$RL
M.T*5]A/2E&JR,^).$N`%?^(M0#ZO$NA:31GNR>&@>'@E=5`&F.$5JB4S^2`.
M@7"E_U"O#I;*><ABRH4=8K"J7-"`R'@2.SWEB=FG$OAAI.C1EA`829CC`9NX
MZ=`&?+DC2R@>>O$`ET@2(I[.N(L'@S0&:54:V087R/86=N%KX5-H:][6_;E@
MPMB!1P:3M["B:J+>BV[IOFK:J?GH-%&?9HF'U9%800F!WR2!$5`-2I*$%E`*
MFJJDQ/(X58DO/Q&-@(1*T&B!7[#_A%\0[C.SDUG:"-BP`E.([_G6(1*HWHZ-
MAW$-@0B``.ZD@C(-`B/P"2,0\,!0$V6QU50-M"*43O]M-5JQ:CCIB171@6"`
M(^NX'2PG+@HALMPL.R(C+`0RP1F1%PSYD`,)6.-X#I(V\4?U%=D2IP[5<^7(
M5%+BK>[,VG@XXR84/)CXX&W]"]%@$O4TYV_!T160!(?!@,]K`1`PL($A`8C9
MX<BK.JN:N'`)`4S;<G!Q+]B14/?!%G98!ILX$(0V3R-*]'DY3S^ST"X?VW;1
MUH:^\\(H`6B<A[?#MXRZ1+/(#2_6C!7]1"]9;GO<"1?PQV$@C90"$'H93!FV
M.@VP-$NH_]^TL(19:'0H@X19**Z7&K7B29J^@PD>"XJ0,X480(Y=$`58,`7Q
MDYIDFIK-`,`5<&I$_@5I<(9%_A;[)L_$4.KG6($C$`(L2`(AX(`54(`><$:`
MO8/G7;&=D`%?$(80>>BD02$7&(8T*NB@*!/YF`D+X09;R')]R0%;(+:/X$D/
MH'Q+VC1]M(2S&XT8V*R?PJ$C$<XO0X:CP4A0*:4\"8'O9/$&<27N5$BO(707
MXT["4)*L=9"-\9:/.@UK]F(:$0T2X($JI"IZR<,AG9$0&-!ALZ..N"H%2S*C
M<I&:Q5$URF5:,<(/&89C.`9U`?-R$2MB0&T1`9<`\)8`^!B$9O\7@C9H'S^C
M=A(!AK;D]C(;8JB[[@'(XP6(>/?NJ6/QX6"`#^H&&@MQ\*$+=@1+B"AA\0.(
M$#O8#1/Q@40O6KJ"K0!I2Y>N722"V:*U2X<N6K1LY?@00`>M'"0TT/*@0Y,'
MH)`LQ=!!PB)%ARQV)/W0X54J'2!`E(`D*I2E$@^W;DUH\VM7A`<Q['K!P@,E
M*\R\.<L3@P2)>0/GTJUKUVX\&2`^-#`2(L0*(T16O.AQY`60'BY64/'1(TB0
M*S$\DG#!2\8.%R(V5\S,682,83)<E/B[.<3>#R+VABBAPU<+N,%V[:)%PI*D
M8+9K[])$:T4,F9:T]2(!8I<MVKJT!=/_A8S$AQ6Z58H(,>R>"]2?48<0"(_7
MCF'&C"E;]O?A]8'#/G#/N#T$B6$+ZZKC43IUZA+*!N;EBK2$#,3$8`DM.EA2
M'"VY6$+""KKDDLMR.N@F4R\ZT+9+"Q61`-^&(X3`PC#LQ&,,+\.(IXXZ\<3#
MCCKPQ*,.,3*4E"&'I<$%'5PCP'50CB4<91$+__GX@9`?&3,0/#R@IAIW(7Q6
M0HAVJ2.#5E-M%<)<[+C0U7S&:`66"P(M\]]J>VTTC$.WA51@<[U8HHL.,$E2
MTBZY[))#3Q])8HE#D&BB@9\Y"!5,+\'`99%#'[3`RPH4.14*++M,=9LHKU`"
MW4<W<B760PEY_RK6"BOLDD<>'%!"B3-L49('7'>Y^NI<\\AP4%\<`&9$$L#U
M8,0=/@#!`@>.`4%$$$*\@*.,E8U66FLRL+`9""+$]ZR3'E6Y%6>ME0`""3IH
ML`LRTD&RBRX#%DB+H3'$A&X+6NFF0R]P!F>HHMK@$DRU.\1##`D>1<O9!P+E
M]1<)++"0W50.I7=/1^RQYQYG&9$@PS+PU#4/,0:EQN.1]VC)544^LA!C"P?V
MTD((NTBB4K=WQDE""S&7E.FA.Q"360D'\Z`,/"BJPPX[[J`XCC&B88;S41MN
MJ)6F'SF-H],^)FT1:4'Z^!=2?X70<3Q,17O09T_N;#%=\!"S+48/A?\@%T$&
M>?6!1/<TQ)4+%BNS+5(8:<01P980Z)),(!5(8`OLA:0!3H4;H(DE&(0`"2V0
M6Y*#)2V\5)1Q%E4'0@S!/'N0!Z+`\@M&*Y02BBB[?-3"J99`4GBG8GGU]MLM
M`&=%'E:8@BI;O^Q2$JS!XZ77!R@`P6L,21A!6!!&4`$$$"],L6L,6/A@;'4N
ML.!D:RZ0UEH-VV]&)`\;[I5MVA^,4%W8TL(5V\G!S11,#+9`$H+\,<A@W`?(
ML*E+"]35"ZW`Y%[&"8$+4*29[61$8+-ZB)4VMK#UM*=:[$O4AWBAC'BP[1XC
M6E)^]N/!+6WE1Q49QME"!1=N;>@@6G,(4H[_XCT7[(`'XI'(B\:!(A4M8S0V
M&T8-9,`#JY4@.TN[T8YN-(),+1%32<21CY!"&M)`IS19RTC'DK0D[EGP-!\!
MT3(Z:(\D\4]M62*A30(P'V5@ZB$R$(@Q?N2H:!&#'3*@3#"003\=V&)![Y+)
M"CYB"4VL`'*!O,TL+*&#'.""%LYXG5%*LB.J(.H#,1`&:?;B@5>\@D\B:,'I
M4O&6&)3"$Z%`G2D2-;NP<,HFMO,`)/I`"6V8PANZ<`8S\A`JX?%R(+)R801\
M$(0[&,$(+Z!"#Z:`S"F\0`$]H`)CA#"8HVS/@CF[8PA&TZ_J@,A)3*K60:8B
MSL^(\TI_69116H`,_Y1))R:>XY8V:!$#9(!C!3#9A4?JYQ+NE.!(RJ@F11*&
M0Q**,V$>L<Y<B!%![K3O(15Q`3'F80_^L,!*!]&/+]$(MI`A4!G*:%0):F",
MT;A`/+PH$3'(X[.?J6@>''P1,8:A#!0I8Z1!VAY<6+`A#O4KBCORT0A*H",B
M.1%J/+HH?*(H)&FQ1W,."0$Q^.,U*W416E0%D#$Z6)#T'81M[/C20^:C#A&\
M[0/#D,O9J'*P#<D`1318X@I6IH.B4*@E+0B&@G;A`5I80CH+`MT@1QF;1&V*
MDJ%*63`T\Y?0O<(9JHE!*EY1BABXX'2B*,554A'(L*QRE38IBZDH(0UOU/_2
M&\QA%0EZR4M9'90#1O`!%:9`!"P0H0=W0"85@A4]$6"A>2L009`VVKX5\(!*
M.<N,=CX3SG&&S:*;<EJF$F6Y8.C`(B1`QLF0\1P=:&,R()".+;0Q@(3M8"`P
M$H]F&G@/>&A4:^E+SSS64]`NNC=1U2%!1.?"`X\\I`3C&,C'L$61T[15'3-E
MQSQ$I*(%+YA%*&+',FIJ(M&X8&EK/11<M`5%BD#'B$'%5&L^XJ&+]I<]B<*1
MMH1T$=5H#FQ<4U+:N->^O:0&/L80B`?O>*6YJ`.-`0B`"+>ZE2/58[\5X8$Z
MEF&,A1BCHA]AB39TT`)-V,)_AFH!A>#UEKE>R0#_L2OK5I`2P!#T`I-?\@`L
M0D$+^.SB*J88T%6"D8?3L2(&L;NS[&P2@F!P``._<`8N=&$*4X`#'(]LE6J#
M)RL,KN`.,.``$""3A!=LX)FZ70$+DA"$(X#T8?]J'X!V(&J$K:8ZX$Q;^TJ]
ML7`NUX7^\1>W@/0L[_'O*$5!3;1"4`ZZQ`--[,&A#):(D7&F;6'$&+:5V`<P
M_@[[(R*\!S$(2R01QD.CJB$2LQ"X#!0MPT0I'<8.0L.#<3M+>Q7&VHU8N%/K
MZ@A1Z,;:?7ZD/DTQ#;K0/8_#5"-'(1T%;(YB3U0].%6&*MN;Y3P("W:M'FFO
M#<!M/$C`Y\&#MZU`+CW>_PR4<.Q!^V0$?[N(`47L&:H5P'!FS^4L0L`<3HM8
MS@#/",:*8Y!F7/B($FD.AA52@3I+8#84IGCXI[ZRRA`,8`7:L`('F$%H7.""
MT(7^76H3#2O6I@TN(F!,,>\0&!_TV0>PO4,0GOE;5J?Z-'(\SZ>]>+Y4.[>P
M!<76:G!MG(B5*8(ZFF];Z1+MZL3-&)DA3=Y2`]]A%/0TVSEHVJ;2SX1*NP0*
M#[#:*E+.AVK/I^N.8LBVA?'SY,VG1$U*TD*<%(K8J#5I<AK#'?94U5=+Q?^N
MR/A4TS%VP)@U$#/UUU9=@OE(G-7LX;&//^`"MJECLRWHF)<P'O#U-MDBN5Y?
MKO_KONJ3_]A3G@5+?RTB<FWPHI(X2/,M0D6)4\[F*JA#72EV05C:<65V)-CK
M[NS%]$$7&AR_0+34747U<'*&,"_XT!1$#PHX$_1`!A7<1^&574.YAP716-J%
MS<E]6HQ!4`.RCU;@#;)-A;_`D`QLT#U@S$[%S0<"C8&-U+8H#.,E"FL\27#I
MWK.AR<9@U`AM"F<L4;)EBWUU$;-41[;YR$$QR^<Y210Q26E\1$54"[<888F1
MF*OEFPNUGNOQ7^SAER_M`(AI3;84D0JF1@+YTGY=B5<]7'0HW#T0S9+)!3S<
M$24AV8H8`^"EQD'YB^^='!U^V7-1A;3$0`QH`U-4QP?_5,$IW<)BF`+J[(+-
MH5\I$(48=A98>`4&0$(CE18XZ((TX$*A></OE$#^O<K^1<N_""%5O$`,K``*
M!$L/)`$1$`$5M-`$*J##L$95\5>9E%T=GIP?SF*VE-K#7-L-4D819<:S\-VK
M'`-8+<QYD=L,!6-;$</W)-6-S<7VA-E_S2!":&#$J`8N/M4MPA[&^:$0ILF*
MD1Z+.8H0FIKI$8GIB8"P$8GZV-MS,=R`"0D<7B-4^=(RQ!2YD512M-4P-"-@
M9)5Y61N6!.2=[4`'S84]8,Q]A(SWZ!2VI<8!O2)7U6(K>1:8Y0T+[((S4,E!
MH=DKB((>ZAPLQ$";A4)4Z*&,_SQ7607=!W@`@9@"TUEBTWE#H3G#6[#`)NK?
M#O`7+)[:::`&89`*%AB3YCF4LD%@DWC$40(,-L[8:CS7!7&%-M*=:6`-._+D
M"*S=L(7-7Q##MB'8/'30W:#'07[@!X9EU[1&>L1#3:74,M#%.#@$?LA@M8%,
MQ%@4W>6;J?'@^%Q@?\%AO5D1UGB30W@C.FK'7B!1HTA;'<8AZ6F.+#)E/=I%
M6(8E[;7&[-UC2LV'!Z455V0)=)05?I'-7.P+=)Q/BZT<VI@8C24>16+?2F+?
M5E#27^Q"8L5<*7SDQ]U"*-Q"`*69*`Q:*9@"[%1D(W[%`'!`,,"D+DSB)%HB
M.&B#+O_A7T[2Q?Z=1L+\13EAT(:P@(P4X;691OMP3_IH)P1Z8ME-WVMZTU,>
M7D8XH5;\I'9F9;;D6L'0T&;^C)<DRL*\RC#XR#$$SSA8&Y%,8QIR1=I=6]TI
M)0TNI7!AHU849D6P!PZ29U4JJ&J,``OL#(LH`Y6\IG!EWE,*%VM$U42Y2CSL
M%PMPYEW,PS\QYD"V#9Z%`"\L&8KXG5RNW;^-(RRJGFNJ)T7^&&P*V&GLPB]H
M#W^M`"&^@I&FV9HIJ?F=4BFT0&I<WY<%0')J0R4P77,&6G-&)ZM\`$Y6Y\7L
MP%-M"/M@(U26G0W&XK+)F-Y`H!2FFBV2)X)V$0,:7MPQV[#_D0"&@!AV3M^/
MN(`VN=%,L10'R85<])I%$(,ZE"62+$.%;4H_J8B00=!Y*JAZWB*<QE[$$*8W
M#5A5/M5Y<$]\9H0+`&26\`*(FAAG.%6(NM#./!@[N(C&I6A%$`-IUL6(9(<3
M_IJE`IW:5(;VM)`X">%%T-B*,4E&P"&04I]*RJ:_,0MM+,M!*&DJP`(P!$,J
MI((S_,6`>$(IE`(EO$6TLB31#8#N6((W!-HDHH0N>,,SF.N8DBE=Z%AE^,@G
M/FM3^J2UN*E<JDTLGD]R*1>_SB'8R%BIX:`WMF9\1H<>:=XG3B0%NN87>8\,
M")$-H5!*+5`)V$R*F"4[*,,P1"."_X(&>'PH6'Q::S(HGUZ)X1D<-B;,>ZZ=
MLO$BOKELF9"`,L@%.QC#.`@$.VS6E=HEQFG.QL!>.,D0H=8`#Y2(>'3L9JS`
M#BQ9W"08B=S'<X';:#";]=5ALW8CC87,016F0U'L:S(B5%I7RNQ"QOHA@-`&
MH7Z<G;''"@3086U*T"6$0P2``6#`!>@.3$)GH'F#-\A9HXBIO=;%%ZZ`#%R&
M>P%7&;%:57D3DW"E'%9EC5F0"KKIR\9J:R:L`EY05(*`#:Z`FU#IV*;I'?YJ
MXEU0:\C13P)),K*BQ38;'0+,QG"'Z\(L[K9FVW'1S3J@:_(D"/""Q3097`R#
M0*Q'M$)04_]F'J:.J*NE&E)@9U(=3$,"8>@*K-[>&9B]YSC&'B5%IFH`;Y`*
M72OEF0M5A(QX7`QTGPMQV`MI1RVRGVP.``;`$B7$Y)<&&BU0@A[$1G0L;JR8
MZ4=@!B_$`#!FTPIP"\G)Y5%BT%&61LP&K,.\1\)&GWQ&X-NA6L%R)3@MR3=E
M1,DHTH_,G1Q*)087EJMR[C6"+<*"[37B!]B<7+7(+'YX8@9+J),D&_02;]J\
M98\]!,_*#6.J7/1>;YA9Q#K.J0+B6@2FS\%*Z\F10`Q`(3F&3(WE'JM5,?CF
MF<JY[^_HS^,6X0/J;NNRTG$.P``T``98`270@I?J0N$Z@Q7H`0G_::(!#X29
M`L8.,/!)[0!X[`#)N4#,M)&>CH_"YF+`<D]/HH_H6M"U0:47)ZWGQFQ4SFP+
M:`,RT,8.M$"%[6AA62X$M2D<BF=>JB=AV7`M2N#N&B8.,RCQTFP&Q^',(NS8
MNA"3E='6(+%QEI6>Y@W_08E!$-;"EITIM]ILHBWU8:GZ;D7G]%01Z<!FD6W[
MOAT8'R<WXQDV=DX,F$4>",,U-]<&MJIG80`&<,`&>`!:T+&[VK$V_$(,!(E#
MN$`?^W%B$O))Q>\"+W``M0`+1##GENKMQ6R//N&GX5LCQVSN\N+9*K/FDB?[
M[$7)S,8N]`(D$,H.2!G);0IC^D?"PK`:_^,PPA),2+.LVCQ,2(=HP,[C4Q:F
M>(*3'-:RV8;`0OS30ZS`0D1;^[G=JSI?F`5(>\VL-;Y'H@B;`Z(O5^W4ESVB
M&.[T*,9`A11*X42+4/]PL][N_7**V@H8"P0#2;!`##S#V#6E)_Y+)3>S'3;B
M`#"`!VR`'`]N<QJN)?Q"'AC,^-3KXDK<4ZW`99P4>``V+Y"UX]ZM]]R7>%(H
MUN3BYERNWF`AGQ[T8T/E^4+OY;IBFAH<=P10,$A"H2`'-^01N@028+00=%`O
MCZR0?;5/AF%$T[#')&T%<.Q)W<ZFVFW,U[PCA>HB^L:=^.*RS"*HWKC0D:0E
M>T2)#%@IF(4-,?]CA`CP@!OF*(,@8:IQ2$RSHL38+H\,125H@&Q"0B9X6?5%
MASW%20QH0BT$@R:HQ+1&IBUO<QC+9G-;1`S8)`OPPD9.);18U>?2X>R$``8P
M0`-L0!68`BW40DSB@C=8@A7<P0O`P(KA<SXCL)AFQ^.&&V!;\RC*@#_[PL?&
MU+.X1_1ZT2RBVODJ%V//6-LYU.K!7856952.3U2:R\I,3N34AB78@@Y\1'>U
M`&Q(6<R<F&U65,>]D+1("$F`P%WI$96"A#9T%P2MP-\4""MMCE4Q2>]NE%K_
M]CDKK(72H0I^@`Q(Q,^*AT"H@RJQ[]NDG?/56'0?`QKM67'DVE%?W4__%$<(
ME`PM2`*.O.157ZLES,(L:,)M]VTE5,+?YL#K()+?1(+?)!)?80I2K"!$HS,W
M?[5#<1AML$`>S&L<DNJ_L$:KIM'^;@`&-,`CP'-,TH(W(%VH&(RC\/7B6GB&
M`<;!E,`"NT`,!+3^"(,,D,AT]W8Y4O+7+%NNY;!1TBE(Z\WT'77:R5@.GX<?
M*HH>]49.:$,+2`B6>8"BR%,.=!<]Q5,6AX`.<(-+V-I;8*$,<$-,E(0VM,1(
M^&E+V`(AN9!NS`E<%-TN',A'OVJ0U!W:2JAO)YXG/A6-:>-:WZ$*QH<(?F"/
MQ>;Z;N71WI<+\,#%,R./Z$`NS`+(O=];6"!R_\B";6`9H=<"),35+62"@O#/
M"E1"+N0`!K00+%7"_<Q");S\++!")7C`+&2"2PYZH>N`)/S)>W/Y"I<Z2X)9
M6=%F#.B!IPO#L?2V4B9SJ8\%)'#`!;"S)312J^."-G#`"S0*#3G9"N3S/5AA
M!%DC?(0*H0*'&0]#B<A`,9#:(O\DC:/X!+=OB==TLS][OYJCM!]4PFMU"4QU
ME'.7Y4@"EA6.!]A""^`)3J`+NOP%)*#$.C6')Q]%M+A`+U19MZ1$<&@[N^@&
ME7X`!NC"7QT$EM'"+/P&=&>3SY2L_:YIP:,:@RX)Z88G#J]>8@[#.-2J.K@A
MREFQ9&O.R,A%T9P-C__T0BS40H5H0B[PU6_!APM(0BY``@E(PBQ`@@8D$B34
M`N-G0B:8ML];PE;X_,Y7`@9T/P[T_"-DPB.4@@>\//=7`F7U^V95N@L=>Q-V
M-4`$^#!0H,`/!0<F_`"B1`D1*_*L^/4L1HB!(D)@%+$1Q$*%'S\6#)#'0P<.
M%R;1PK62I3=*+U"08.%BAPL1'US<T[F39T^?/WD,!#&4Z$:,(4@D=;&BA0Q>
M.XSQ,L;"J,80#C6""`'B9D>N'S:&R'@SX=BJ&T$*%4M6*%BC&;G>U&@5XU"+
M($@TE:&#;Z\6O?S::O%!AZT5EC3IH+5+`RU+)#[$<-PB&*U@EG3I>!M#6Z__
MP[9BK*"UV-8N$I9H#2:L"U)"$I<]6'JL580,=3OC+9/A\$-2BP/O<ASJT:O<
M#Q8SCLV8]N/OLC-KN(!,4*%!A,`;;FS(PM@\G<9<!$VH0Q:D&)9J0<(<`R]&
M';5VK=`TJT6+6;)SM5A1B=:*WI)F\2`A##*IQ(-9(-'@%D@JJ62`2"J!)!,,
M-+`DA]&"Z66QZ43([J*%C#N.N;0"L.Z@ZA2*BX422(A!AE^<>6&KXS1RZZT1
M0PH!@V`\N&`##$QA24A3M'AAA15VX`497BS*Z:<GH=QIAZV*$F$H*V]"3BR9
M7.#.&&&P.BNL&KLB#DNS@$O.2J*&ZT@AL3P"J:KD_\RZ<2Z,/!*!!1EVD$$&
MZ71P41O(<K`%$L=TT"6&%FCIQ:+"=""!F_X2[84$CA3;I05D^F-4$]1B($$3
M6J:3Q!8!!_*`%D@8#88$KD+H;B=[[EF&A>-D(&88&5@@0:Q?W5RHJ.$L"HLV
M.)T#::RT@@UI1!:&(68'AQH:)AZ=YB&&Q;9RJ*6^64C-(1=(.N0*$ED6O8^$
M`RV9)1<25E"WMTIFT2`A#VKQ0`,$/6#ED0@-J,22?TG00!,/`#1/!Q=^:Z@$
M-\G$$:3K3DR(XH0Z9*&%%O6`L2(:T:HJ3HD+:L`#4ZS@P(HJ:+FE95Q&<^D%
M#W;9)1AD?*DH!!FB[/FG8?_<K-+*.)O=R`49C!DFS#OG++,X6*V<3EAAUUR3
MN2R7*XM&-<5<5DRWP%KAZ&&><J&%4#]@E!9M)-E%%]D4/6X7;4(#Q]5$>;F4
MJUU`\Y2$3#FMSS+(0MAEW-\4@R2'679!3@1V[HE''76\4X<J$8:Y9YYY)%?'
M&&)XL"G87\&B4<1C.9KZ(Z,D1E$LJBH^CH?-E>[0A67N88>7IQY.J`0`SYZE
M$A(@R46SATL()A>F;I'D=\8K>3>&621!CMX<!AI!7`\6YSY`>NGU`!))\LHA
M*0]D&,:8'7SEJJ&.Q'*S6.!:M]A^9S$N08884-@E#QCS$)RJ<"4NR6(."\2"
M`4O_4((#'*A"D(1$"TI8P@HP0D8P=A"#&.P"$H#QV0>E1):X5(TX*<((5,`S
MEA%V2#D=<1J(QH26A2#E87$ARL@P-J./C%`Y8J++G'JS`KALA`1.V4$&-[8"
M#>XB!KW(Q=HLA1&W!6,%VE@,+731@K<$PQ8R$`TRSD,W2]A"![V(VT!:H(M5
M[6(''H#9:'1PG!"PX![P4%H)=K`,;64D<T\R1@G@!*VDL8\L6_':76`E$Q8L
MTD,B<HT+(.D"^W$''NJ00>P^P`N=:*LA/(A'/&1`P]X!1Q*RD(1D9H'*%C`$
M+YC)RWWLD\I,Y`(#`-(`<G)PBUGD(`<Q.!=_`L0@`VB@_Q*9\,`P;XD!IIR-
M3RXH00MLTJ'>A:5T6B/9B4Q$'4Q^H"$;7`$O*NB,T*SP+,T:D4`&T(!#;>`D
ME!C-&W%A"4A`XA?:B`\)7#`W<-@S!B`$X3!$>"6C#*>$7BD!(['TP[DLQX5@
M*R">CA.#/(1*H#=4ENF2]:N0U<DJM!EH"#@3&B%NI(PKD,DRS;:4R@1J!5EJ
M@27N1@M;+&:@)-`&,I)B1EIPPS2%P9#4/J"AF5*Q%_*,CR%Y9@R]S3&4&.GC
M3Y110YS<YAZ66\MQM+(6N121&.I@QR?9L0QC[`8D.X!<MCXB@VO=8P>8'(9W
M:E>"S"WC50PIP9MBH`E+06(6M?^@A0X>UJ$6C`HI[9K%+DE@N,.2SS628$4M
M&%>A"$$"`S'0@*]6@`$#;-8`1S)I??(B@[^81IKP6PN<ZI=:9G%S!;O@0!ZH
MX#'(D).`U)38`'1D"E-TP`JH6<DM3#$)4U#0"II*2@R0H0WE!L-%_OS@#KHB
M4"P%K:`^%-/2ED.6KH0%31]8`2E&00KV$-"<"BE3LNH20Q\:TH9AV85>,]2"
M@^["4J9%R@IF<K,5^`F2+'!135R@`S:NH"$D:`@O(@6OR\2G-[NPA*8L0C@E
MUFQC9SL2!EX5@AW,8QAPT8JO-M+'<AC#&.-0!SSF\<>[N("JZK@K_#QJ%1(8
M@ZH]L8?_Y=@RD`UK[H\68\&UXM'6CV@R6]0ZQCV4.A2'="0O9@L4)&NF`P([
M+)\)/H\FS!>"%:CGGEG5LOBDG!</9-:DFMWL"@9`@@"0+C)4+*,.D&$:A[DP
MN_2K'T*N8Q!L?J0$+HA('CCP"V9$Q$9?*^_$,(`!5>%"M[-@B00?(4$/<&`%
M+]!!,);K"R86T;D^ZS#&$DI`',*P3JC3CLBHBUJHD<4*:P`%)TCQ*N$PY[3F
MM.Y9W$+.!M-7$_;<5*->I2R0QJ!#GM68GW;``[+Q8AC-=C;9>%`#/O5I?T>C
M=@Q<L*BFU$>#]3F2;\`RC'J$4BAVN8HFD3Q'Z$1;:BS6B>7L_X)5C7:(&-ZA
ME4\L!Y+9?<<B!E&K3H2LYS[>L01'IJN2[WJ<$HAMVF1[=K24338_[:5/D&R*
M#D1[--%R^VR+^K8!2&``BPQ`FWK^0`XT(0-DQ!F,VN&-6;)VE]2:7)MI*?8+
M7AO;7Q#Z:V<RH'E]U4!5J41(*WF$.RFK1"[J0AN\^),S\=GIG@$M3;BF[G"Z
M=M53CTF'":'SG0:BA5%08A2C:"F61GT1K8R.G-8EKW1O\C=)].(R=!^-:2*C
M'^2D"6+V-?!V\/ATC4?2XH7W^%)88-)?;7`P!B3!,-@A@Z^4CDI]-`:HA=,1
M=U=UE#\4"P\@IY-X*(/$7KT',8*MD/\=[*3'"7$!/"(G9(5DCL,..W(\/MT0
MA8P`Q`X[:`LJ+@-I3YSXV4ZIQ4V:%%^!]*@_=U8(ADD\2_P%V[N0Y)R!PZ:1
M'=I^)LKSGGT'+PS\P@K."$9$X`XKY[\IY`,8``<H\5N5W`(7+J,$)4S!3OH&
M0XVLBB1DG$3JG@2@RH(C9NWJP.(JSD*KM@XMF@5.3.TX*"$+5L`*1B$/+F7O
M+LJ0D@7NRBEDCF(!>T$;.F@7)$$;W@R0DHL6VL8TKL*D2H@XX`(I.B,[S.U7
M?NX!$2>+[B?<V,$%&BHYPNT[O&Z`!F+S<`Q/LLHH2L`8=L*2?$4IB$&2S&G'
MTDTA_HVMW$K_)^*JCU+,F1*N+6@$+[0BKS3C2NQL=;Q.6?C*7NZ'Y`Y"`SR`
M0F0CF""!!'@!ZA;"84"MW-!PYFHNFQ+"I!;N!:Q`"_K`&7XA-"["`+>"NW8(
M?@8@LQJ``R(-%]1H)48CN`9&/60#BVP!&79@10`I!`)0`'WBTT`F==B"NM:K
M3K"KZT;`*TZ+=4)@$K1`!%Y@%*Q@)G3O:A@*\]QNH!R&<#@"I.(L0RQ!&RA#
M!T8@!*S(%$8#-%8`TX*APD!+RTR**$@`&0#+HW#DT'Y%$G0A^3[B\=0!"+.O
M6$H`W2ZOW(;&]5ILE-:B@#8/'J9D9'PE#3]@]38I#`/`!8!,]A*"__;BJ@9"
MKZIJ8&CR8F/@91NY(@:"03,P8@2L9!9'Q#E,ZS1228@L1GPNZQ%F@17F27AV
MR1)"91=8I"-&8,[<!Y!@1772CCKPK.3N1\H6[A<HP0HH01$)K4X\8OWLJP$:
M8`,ZX%!^2Q.M@+>&RQ(D`3-TP1N8JR%FH(9X!A5_ABV\)KK$,$L:D&FHA2-F
MBW[FQRHDT`K@9>QV8>?R`($<J2UJ!+U\:(3LXJ"<Z;1ZXVP$;!<6`QE:@`;'
MQQ(\H#0DP3(:Y=?`Z-+B[%7Z[!H#K`4"16_P(MM:8!;S@B\<<LLT!3-D`WOH
M1Z[B`0@+20G131E6Q,#FPDV0D`5H8X:TZO\>><"BK$GUO.,*$^+?YJ&M3,X@
MJ84%B&&MXD%;.N*EKA$2/B52\**)E&A1=$"+0&`$\C(T9*T%/"!0Q$(#YFD_
M[J,2W#`$%L=`)$0D'P%`/*`2<D!3OJEW&`(,F4S`#"S;_(.@[LPF:RX$6"H&
M[N\72,$9^H`1.2J[M$+8=*2!-L`*I%$360(2-L`#*&$2#@6+4'#*JI(CKA(K
M>X(`24U^KF8!P?(MZB)%/@3L0H`4K$#+QDX+3@&\9"`O-,@_A(4H?@-U*NJ&
MUD0K#NI/+J5,6*0^D&%2Y(L$R$B>-(`;C--5:"$QL*@7^%(31H4]2F`7N*&,
ME&M2B*T,E8L60B7_K[@A%)5(IKR1%G*!BQXCB'H#]"0)9&RDC^1!'4BOV7:#
M+9`P#.O1*%B`JHIL)I/%'T\/(`4R]D""-Z7)!>I-)TRS(S0@$R3A/=JE/T3@
M-%*#BVBA%FJAKOZ&%L#%7OC271[#"@Z+&6?!94R)Y/;E$3JK$B0!`PS$5"LD
M!W"2/7OC3WI'`R(!&;*-27MA)LNK1$Q.$`V"I?Z'$K1@/Q?Q5N@R*)E#B$*@
M`11M"C;`G1Z-%H(D&):R"JS`4G7!&QFS!":T(RK40G<"0WLH:S80(V*Q*I8F
M0']#";G&(K0`+7?Q_D`A7O,@#TBA##B!$N+#OWJ%16JT*."$NV:$=!HB_WT`
M241.C04$#(%:@&Z"05,,A02[\8K(QXR6D1M"Y3485A<N0Q<:1P08!6XF4AL.
M1A<T`;GZ`UY&HT+&%#+!8@=`J9I(1P3T=">\@QT(LD[?[58@L$YF##>F`I%F
MT@J-(5EDP#MR<PMK3YH:U06<,!T[0HD.(Q<6]2_E0Q-60!=T`4#RXU'N`SW,
M(Q<BY!8LH3$$<UUF(1+Z11(&`A)NP0`^8%\\P`.,J1(>H3S50P/LBB'S,%8Q
M@19*H!<P`1.0(4:YCT10Q$1"8*(J32>UP!NDH3]A$$^4<"9-:@6($@/R@&5@
MAOXD"#48:`-0XXDD`2(WHBIYHUN]]1XPM(!F4O\8WP(6YP2U5J<6R6(G12`&
MQHX40&'L>&$4T&`3-N$,UD"B2($9UG+GHFL[2/$HE&R@CJ*(SG0-[\H&_X+Z
M5$4B4=(6'HP6/.`TU*@S7D4T4'!46L!M=,`B=.KN*B,'KM82"J,U(F-52(`%
M0R``^`(LBG88$A`$,>=)XH$'=,C=;JQ@EW!.;(,GU&$8G(F@#$AH^70@08(8
M-">NI(K%G):U2&`69`%<2,L^IB\7K-82<D&23D-J+54]ZD4'$`02:B$'+*)[
MIL<S(P$6#&`$#N1?OB=N3TG.RB7"@N%-WS82-.%O,B$3;G7MY,@U]O%$E`@2
M(@7\J&,`="`/7N`%=-+_"KS!)ST2[>0".D<M!`8@!HBR@28A*1G-@:J`6NG%
M9;(,2ZC2`%'76U?W=7/L312N`6$7*[XB2^S,A:A)"[2@`D&A#R@!%'[ANSAA
M['R7$O#S$T[A%.)5O,+F5_&U+3-BX30H!I8&GZAB.50(1`0J+\0F/OC2%E!P
M%_PR!'K!%GI!RC:"47HA!K@A&$J`4SX&&=3HP08K-70@%]IF59#B0BQK509"
M@[:"!;)E+.D$!-#-<Y;AQ#9'/(ZPQ6[E=#CJ\=;*9U>4.:R0&-+*.X(L@B>8
M6GBC-X[A@@V,(\T#66.`-5I`:D7E7?`B$V0A$]SW0"JA!5@X!RR!%;KW`X#'
M_P-<`55RP!7,TP-*H6M]J7+_59K"]X<3[E`M90=\P1>DP^(@LSGE+E%QJ1(<
MH1$<P3,)`B'T0Z+ZX'](@12\P1N,=S"4K"6Y25B\^",&P``XH`$N@`,L(8(F
M80.8=0HJ`1?\R@,$R"AF8`;"(HXM%$//)-XVE$/G(DR$T("^;ED^P`+%#A1V
M@>Q>@`1(@1.T(`:L`!2R(`:TX-5&@1-`H0PPL`5^813B%9)'@1<.*@_(+KSZ
MX"^'@@1&L6CHTFH4`C+^QKC*"#(D@Q9$\5+:&<&XP5*LB&$^@/\>S#1&Q1)P
M.5!@9A=TX%`@LV0'(BD6@@1R@S7=0JLLCTOX1(&=8__SQH&`&5`XT+$GYH$=
M4*^\]%1;+*9/P_DC)!CWMFZO:0QV`K1;CI381,!PSG-<!JL60EN$YRE=J.>P
MQ$>76*5=MFP67%2!(J1@<@#D^FUUI*DB-D63;T(#$M4%>B$3:%4'$,,I`U<3
M)"$3+@$3,F$P<J`2,"$2/CH2((-B`@!>8L`#R$^WG`$<O$$G8V`@7BQ/GE,<
ME?5RB>Z-K(`!C+(4+-444$7!X\)TJ>*;4I<GB,$YCM&00,*/;XT)OT8,2Z>`
M!V(73X$33B$&P,M(TMH*5H`2-D$+8*"01^$7SOH32!FN3V$43N$3M)H%\@"N
MRP`4/J''EX,%=@`&9R@!%5#_ADK\*K:D?5H$,+3H=K5A+U"P!&YJ!8:",VR!
M&P;%;92+;E:@,/^JL/_&;>FG([Q*!H0#3_"("--$"*<Y9^''-8UEKP45<NYM
MDU(O(83VF_VT8DB@MZ=%:3NB!)9A&=31-7)@[K3(/L%H!T##!8X4.KTS4ANE
MS9]H-/2C70ZF%^ZP!43Z`T`.#FG.A!RF<3AC-PQ5$G9`!^1;$_XB<'W]$N8[
M$S!AOJ4L$O([!R*A$?@[UM/&2*R`&7[!&VC!&5;:&31%6*:7(;"*UC"`*"M1
M)<#]%W+Z`@Y%-HC:=0_*Z91(&#[\6^\**5*'.8KCQ+\R'E.DH5"-!+0@D5^"
M%"8!_[]&87A78!3*P`IP]PQ>(LF!/,E?;1%UEQ-X(09087=U$I)-P4KT1V-<
M=!9?6P,C43ZG!MZ-(IVGK#Z&YB%8"B]`:QN5CX^9!2/JS30Y2@1X0,_S)%E8
M6V=;,P1#'I]XH<9R!X`_XJT,/;>O91YXH3F<,/)<KG=D@!W^2(2`(T<Q(BE8
M)/GT0UCR8A>Z][CTPT5)`,.0XC=F>F*@&-0:XI!CP!EL_6TEX2_D6Q),0!("
M%U'E^Q+,4Q,"ER\"-Q(DP1$<X0[WK"#$6F6<`8)(`1S`P1D@88MGQ"L@)DU\
M@P-^A`,@H>@4M$"'BU5VJ"I8@!>V8;FVH=TWZ2;"XW(`&_]$V\ZZLD-D0%0N
M+**<M>P7?H$%=C&05^`4"MX*U'JB7.T72"`/0`$-:D:M26&1"AD4.@:N5>%_
MAM\4#&PF1@`'7!CR8<[*=P@L9+,1/_#._USFB&8-6R<N#E@9>,47-\(=1X;/
MIRIG^;A.&*I95H`88.\[PG`@B/[T/N+U)O@C<#8=`4)$B1+#ALF0H6X>L1(?
M&GX``>)#"!$B((*H>)&B1H@/08QP"#*DR(8!/I0L.3*DP!(D=GGX%8Q%B8@M
M>KGHM0J3)!::+NE<8<DG)!*2+F7*4?32)4>-(FD(&2"$U%U6,.1QIDT7+DK@
MN@:+\7!B11(@2'Q@"%)J"!(;K%C_X0")%JZYIMYRL#0+DH<!:QUJ%+CK&SAO
MVFAMNX<XL>+%C!L3"_'!A3)B*UA(C0@R(H@0&4O\_0Q:A$C-(CA3A-PPA&<1
M+7Y1*A%B%*=1H\IPRA-C%*@\)2"!XK3KU^]?(6*0`G5*!B50R&F#&D6<A,P/
M.7"8?7A:H]24'RJ*UFPQXT:!XBV6IHB9N_J&$`4:0SQ/'3MC,T4,0VS,+^>0
M+M0A5@?;?J5)-6!'F$54`C'SW&./.BR$Q,N"]RSD4``EL(.?62C)L*`RJ[&P
MS#PBWJ..##,YU%YYGA%XVD0>?3!">&FAMAY4)MTHTD2>K;!+,+_())H&.I2@
M"2:8]-)"_T^9Q#""DBV0H*0.136B2"22M`#923>2@($IEFAAR5QT=06.-BN8
M-A%G%CGT44,#-."!%<Z\1<E<M*ABR08;5&$))+M@X,&3*'4F@S/A>&,))88V
MQFBCBA%CU@K#&,.+,3RX`%MZ*/ZU6FB=HD<C>^Q==EUW&9$@0PP,:;'&;Z"4
MD8<598`B`PN4S"J#%IR`\DL)>>BFB@RDS+KK;)3$L))',3AEEGAI:C121-\]
MM.FSH8&`ED3IM8FBIB*AU)!W_2GFX%D[_#<02P.*UM"X)+(`T43=97>1MPWM
M`,]_+H3*0V+$A$3".(BQXX)#+"ASSSS#D`6"NPD;PT)%(OTEGO]&#*FE68X<
MU4@2CB"!Z]=`I>41S"X#-=3"#B[88I0.+62"228ME)#))94\"7,D.D2RE"0Y
MQ`#6MRMX0`LMIM#B#2Y)FT)F,"W,2W&,,:9%`@<<4$))G*;8:8H6<)H""0:`
MQK`"2*?%X`Q6O_P"B26'.0HW8_^>-8PRQBBCCC(&B>H719VN)IYGG7K+T44"
MABI1BQ6M0`DII-`6*W)DDX+&*#!8\1LI>1P'"BDND/))Y[OLDL<*%;'80B4Y
M."36>8BG%2ZUU'[67>M_G156=]%R/",)._C'H#HNE,8+8O&H8XPQP_!0:[;N
M`@B9[=E1Q'IJ.\03_(,@#2,A,>S>2$S_8N/(L((,RBPH?'<E.*P,IB?J!W5H
MYZU++63VK@?R25I.3-X',00SI!6U0`8NJ)DF8K`#(UF"!"^[A"16T,`K%44G
MD+"2ACH6@!58H6AR21HXC-85;^SB3!2;'F:D@@$.K(`#<X*+7.1"B0U<K1(>
M@!,D8H"X$)#L&<'Q0QZL)HRX"=%?9B$!,>S&"X2H0QT[&$;$J&4>@6CG,Y^B
MWFCJ9T5MN:XTFPG!"E80@UW(8'.D8,$+=&,*$N0F=+IASB\8MRO-Y6$7O$!+
M63Z@`0M6;'JO2PUJ,D::+8*&,]O93$KN9Z/8&<X%PUC&,A92FG,I9D'Q.-Z^
MV@6\$K%`)B1(_Y=GRL*#A<FK(2QX#W[>UY!^(>8Q(5G!/.P!'W:P0QZ(V4&S
M!B(#8AC#ENF*EOQH=SK(?`\U?1R)EE""S-&(S'_!:%Y$7)`R3%Q"$S4QDB1(
MH`-,-.*:,;`F-ANA%'!><W\-64%<M@8.7*33&][P2@S,XIWLZ*Y4*.2`%4RQ
M`090XDZXH$6>.`"V!C0`$GH9P(U$\#\?Y6&AOTC;+YXQQ"%2J`1WJU03*76,
M99A(!CR0B2>QE9'6">YVF9G=X4#"$-<9<F-2`:,>UN>:Z.Q"-Z,XQ7-V08(\
MV'0VM.F5BS:S`DD\<`0K(`%9Q+*=0YH*BO%#:F@.)YKHB0J1W`F/CO\BII$=
ML`-[C(F'#%#C,'BP8XEY2]YC1,""A"BO5BR0@3&X&H]AT"@B]TD8*S%(#*XJ
M1A[&N,Y%TF4_*7XO<;_,SK,(*1'=\>Y;&#SD0&CR"SU@2C2;U`$K5G&E7OBD
M%R7()B9R@,V8@98HD:A2))X&E0`((!A'FXLNP*&5$+Y1+>B1V'D@8I80#``#
MD#`%)2*P`4NHHFA=VP`E),$!JWA@H6<J20A>P`LK+#0/OV"G*J3QC8@*$5)G
M.>(PB$$,7R2/4B%`R&0FPX(:U,"3H/G41:X8+P+Y\5D=R5%'O+,"%V"5!7-D
M1BJ0(P,1K.`7LF$.=%90KQ*,@`21H*8&DA'_C!W`YB]]E.J!V$-AZ2ENBXJ=
MZH49R[KY$8A%)9#!#G2YQ'@LB!U?)64ZX,8.S\@@7_"IY&(@QK</<&^5(DCF
M!T@P#'7`51W<;4^R--/+T?SRL)O9#/6DFEB.@>N8'@.)=$@0@M;LP$0-*8$)
M?)&)3-BD%YG0A`Y(P(M,2.+,.Q`J:AG8@B?=*``HD4H#C(9.76CEM;KP!B_*
M1EC:1:\%!D!!##Q0)TC8<VNJP(5O)]$G0(7-"GH)@7-)\()8]<$9WI"&;YV1
M7>W";2&;D4&EC$&,2BF#%\1@0=U<L(-R$'F)/*@!,4Q,0(\*-HLHJA]VV-4"
M%F!9-,3FCDK5$L8\_^CA%S8E15'1&H,^_&*AEM$.MG)PE&"\XQWD&-)&$%EL
M0'KG,D:F<).%F5@H+S9<7B3A?='CQQ*P`-;?)4;!,"DA1K%#-</0*V/B8QG9
M-63'"@E5G1E)C&&HS'X=2=?&I*@I:]7V-/*6"5*[F+LH+W9_Y,S,^G#(HQCP
M(N`#V8$.=M$"$[1`!V<>@<KE;-12&3-+'Q#H!9QA"5KH&;8[U\97SF0X9XFE
M(5A^KB5,H0U*5*%.>*X+*2Q!IQ=(-VL-D,@7-:@%9FC#&[_0`A6L\#91-\H8
M@77U,GA1J5K=&KP[X(4RQJ$,=MA;0<8@ZS)X(+(IVC=WHW3!00(TEFR%)/]-
MB9,*@6FCFU/\@BP:,2I+MH.>:VM"$^O8]CIPNBY#JF2IWF+1Q"D617E-:^,A
MZ1'007,_U7B&=::>U-W&L<2M'D\JK@8>@Q(SGTN*I`;J&,<N*]0QUH7JA-A:
M?;A.-K'":V=]!1FY;4\7K]2L.Y%5GE=K6K`"/<0`&-KK3B>K^"+>T7GP*;QG
M)<34E9TS(P_"CEYMZZ66'[=@`+LHFC=,D876NL8*5?!MG"@!*%;0)QPP`"N`
M`>1C!8K"3L[`#%5`!1`E=F/'+CJR/CN0/#50$."5-[*45\;@5@I!#,BC#L.P
M&BMB+S1"2*71+B(G`P.$9;XC%0%R7];R`0/61LC_P0S(TB)I@AK$)@)$%0F9
M@`SO@`R]D`S>IH*'Y!U,I3O:83L,41^&M!]254P@)GV]8&8,TT42DQ[@D3'U
M0X$#(1V;-&^<(@/?958[T'ZI9U1)94S5AQE^@THBTWGS(CTNT%$L08)#9UO3
M-V=_V'$8Q@(EDU\M(`PX)!%1:!%30U4?@R-U-@`,T`!WL36XH&=[Y@W2)0-8
M9BH99E5@Q$%T<7]U`0%+ERB00`EOL0&38`JFL!=B\P)6PVGLM("4`($1V!C&
M4!KS]EBJX5:]QP,6:`SC,%:\<#Q!)G>_(P/+0(*?HFZR$U6ULX)MAW8'X0*[
ML!;0=":B!RH4\0*[@#64__`+JA)YT>ADB7,1&E!FVK`.[^0R3T("T#(Q]5(X
MU4,@>S1T[B=ZZV$O=181N]`+O4`66@AOA,-K@Z=AM86"+5)?Z^9C(]&&ZK-Z
M[8%\?E$[/$@]S),F"Q<6*8)8T^=C5!8N@&$*9+,"PK`+#S$"[Q<>C=A8'V.`
M''`!&Q`#<2$7.Z<5SI`'+Q`QX#$>780:-=E/2#,7C48+5*`G2A>.;G$U7H(!
M)+!";U%=9#(8N.`,88>+-U8:+I!PFQ@1$^%WZV,,[#`.91F""J<.Z<",)<*,
M(K,:;@@[*1A5"(1V(H=V:!=L9--BA3=*&D&&F:(=VF(_EZ$1ZJ@)W-`-<89-
M1?^(<FV(.!S!+NGA@R4`CT45<T4W8E\992[)'<%`"[OPCIUT&@('2%\X.Y^Q
M1QC!.]RB'AQ7?;V@`XDX$$^#(!4I?-.C$0<!(^6U+Y`Y+568$E/VASDB$"M0
M,JCB#$,R+RVY)BXIG"<Q``)@-1X`"9-PDZ]%&,X`"3QI?#YH;1U!5#8I)HW6
MBAS0%EI0!:Y!"9#@%J5@"36T6Y"P-J;`3H.13DH3:EEY8[`A&>JP#&K(<`[!
ME:R6//&0/&352#5@*>D">@(G?>Y'='9I:F+$@BU`-N]4&8+3*1*1D+>#6-[Y
M`:F#"=R0##'0"[ZP"]W0#=L`F[`):!PZ(%UH-M@4#,C_$`R^$)"PV9B&8X>G
MXY#L]@'(H`D!&0.^H`,[0#:<R#=?N28J45AET:3LH2D2TYH=\T4O*1&\@$-Q
MY@(H>AU)5E(JA1YXB"DLT%$NLA];.%CB9R,@XV2P\3]@]`QY`$_8\FT;(V7`
MIUL-H">])1=SD31)9P4OH%^?E!KUPD4;D67!X&C.8">.%D-6LW2HZ%M\`C87
M@`$-<$^6L'7J1":!FI_ZF1BZ&!G*8*JHIE]K:E1M-2GRH0Z\(()G:"*"E53W
M8UBIX0(N("E)E"I:6CXQT*N\X`*H<BG?D9H,F6X7^1<D\`B90*(ZL`[=@`R5
M1X3:\`[=()`_Y@%D,U<'(BTD_]`+U+IM[U!YW'!FAXJN)56E:=$+NR`)O9`#
M1<@-R("C**=DIOF5PC0_&!%Y<1BEVC(28#0\P/<!EI"2P1<5+6&AR(`,NX`,
M3/(0#C<C4^0=98&'!=&;NH-N!<*9#ZD_T?))X"JGJK(6Y8@1IAF<%5(2`^`!
M*70!'E")KB47SD`%/+E)AAH>JBDQ:I%SC$H7JF`*4U!#;6$)K%@*OI4H56$U
MD*`-].FIGXH+JA"JHGH/]!$"DI$\;E<0-;")?D61\N8"-)`@W^4"QX!W([41
M.58]5A0"[4<"?M=6P/JK0&-BO"",K>:$NV9NB/65C:<!E<`-VZ`#W1"MY,H-
MMC"NZ__@,KVP#=MPA-CD,AB`?=<A`B2`#-WP#O8`2YHK#]UPKF+1)O:S,<Y9
M/<$@"<$`0,@@"9^I#;9`"Y``&6'$0,(6<W^$9ICR;HA*F2YC=2QW'=@$"5@B
M*D"A<\'PHN5$"SD0%455@SVB`]J@`\&@"3ZG#:CU5]FRD/=8L2PAFE$%?QKG
MH#]J$N14?%.1:3SD?J#WK]QQ3"'@%@R00E7PIV*R=;M@->M3`S3@K2<+?U`)
M-$9#"8W63W7!`%JP`5K@GI9PM$=+:3+4`1VP-4G39Y^:-J!&M8IAM2Z`:LIC
M-^.5<+DJ$?&X$B68+C3@/F_Y1P(G3/0UDMDA;[\Z0.53MZG_9FI8M:\[^#KK
MXB(E\+>4UP+!L`[LR**$JPV8:Z.8NVTE>KD,R[!G1A'@V@O(H`V:*ZT^=V:6
MJ2:E851?9%3X,WB%$0R6<+JHVP*?:0G!8!9G_,.]$`/"$`R]X`$1T1*Z@'DL
M\4E/O`O:``Z[``(M@`S%"Y6>J0NT8+TKH`G^=$-%M`(:0`(:,`MDDW.T@`$Y
M@`L-^[JTH`T-JPT"69N"%V@EA*@4$3%JDEC1.'1YVE@@LRGR5APQ<!78^,GT
MV+%0H4%5<0%64`KS.\B.1@5<W%8!MK_TN(LE4).ZD"AR80I`ZP$,(+2LR(JF
M,`OXY`$=P``,8$]_"EM461=3`'87_SRJL,$"J98\<`=[=S,9QI!?PQ"V[#52
M[7RGX8MNH]14`[(67X1]+;AEJ580F6(XI5%%!:)QY9A'X1J]*OH.L$FXFK`-
M[Z`-W'"MF!L.P>#0VV8/\K`-[[22G90D]_`.3M,"`,G$.F`Z7A2]R)`,17AF
MC5AGD'%R,8`,MF`)[=H"U2M49J$)3O.9DJ`+K4L+D#'3N4`+J1+%*/=)AF@+
MMG!FP6`+D/#2860+O0`)MK`+']$22TU,,4`+KLMRN6!.8ORZ];>MM-`+M(`,
M(AV0MV2;(:8:%1M/(H`I4^BCLBEL?DBPY"MO($<ZSD`)Z7NG>,J^<P8G5B!#
M$+!!MT`+AO^M-+CP"U:``OG5=CCEK8@:%D:%U;APQD;I:%6@)S![M+1PM);`
M`1Z07!S``&%BB9=()L[P"_:$E51+'S]F:B'8>T(VSLI0#D!&9,H@`^K%M0SJ
MSC,QNO9U'GU#,;*C%BM08K"6/!*&)H,$EZ?)*1IP)<F@HBOZ#BRW#O:P;>&@
M"=T@#YIPN0S=#=JMHAP-V1@QT_?@N0P4WN_0N2-4$X2;N=<ZU8L5$29VC24#
MFS/=`@9K%J^+U3J0<P*N"V5CR'0<O;1PF)PL$"Z0<W'&#9;`(U+-J1:ZU$4T
M>2^:)):0<SD0%Q[0)RM`"T*U0`*^NN/H"V5M/W28%IR2=^8Q;Q;_IBU?R4D6
M5Z54]I";P@(X]0+3Y@PC9"T9X8=T%@!W`0DR%%R'/1>V8"<U"S2[(`Q%&(^>
M]UYCL0($[D^M&+6F4`J4,`4<4`7/[-E&4P4UU``,L`%_VF>O%4*DP]KUX,U5
MBQ;,=S?EP`[N(`RFND0D@&H(D3S'L$0<U5$N4`.%.F%K&I=#)RW3PQVJYP(6
MA3'S,SCP%CO>21-/X@ORT+G>?:26IZ*:D+F8:P_K0`O=H-Z](`GR\`Z^,)!E
MH0.'X;DU0:V8*P]'V`NF?JWOH-ZQ>>,@P:H*YP(QX`+/:YRK$P)2'1<Q`-Y!
M5>`_I@FV,,</Y+HS<Q&66[V[(-7@:LS^_]19G^G3_O2[]:<!.4`+,9!S'J`)
M+?NZ?4("D`!`ML`-O2`,O0!HQ8>]?:,:\Q8Q]5$"$J89BCX1E7$=`?>C.:X^
M/#(TN[!I?V*',(I4->)<4M%;'<`!'6"=_80+AGUTD)`'E%"CP6"W<0:L#'.G
M:M0+IC#(\FF4T1Q#&'!/7+XUK6@*&"")>R(FIYW-V<DVK2VJK_V5ZZ-+>#/.
M>ZX,CW0\=I,WRW`,!^J?Q,`#&M7G.[`#9U)2D(EAY7@_'$$0R6/#^CI%KU/E
MG.(0+4"XC?L.*Q>M0@60[KW=0KIMR-`"DJ#=`KF2%#&X]G#1.I`,VCUYX]T-
MW:W>0FKJVX!:*?\[(W\%:UWI=RT!%B'`082L#0=TF)`AXFC<"[:`+$7C`NU1
MQL@`KK1P9H>\"W3\^;S>`K.P0$2G"0N$%R#^GJ^[NOT-6BYZ<O2&*1#!XB'F
MA"5VMFTUK![!$6OQRP!*=#+GB,<T?@8_+SP2BWFP::6CCP?).R3P)KXEDQTP
MOR\DCE;@<R@'1KV@#3Z')6(1=!^P`U&L<[B0@'<"M.@)`1%P3YU=B:9P`6>>
M@$.Y<U293HEB#G$NYQ@&$"5"E'`A@Y@QA..,N5"&4%T\=<K&C5LV49TQ&<L.
MLN/%3ATQ=1%=?"!),L2'$"%$@"`IPJ5+$"E+?F!I,D1!%B5<JN3Y4D3_B0]`
M191DN?(E")TE6^SJE:Q;BQ;;UB5#)BG8NV[(D`7;)>G=NUTM>MU;MTN@2Q*]
MWLE+ID.MO6[:NGWE9NN=O5XZ=H6SAZS%3,`E`[3\("($"1!("?(@1HR'BQ8D
M2.S:&JR%+EVT;.TBV8*6IA6[;.F(H0L98ITM;/4*$<Q6C!BT+.70M8L$+6TK
M2*Z@1<L#B14M3-&")-N#)4@K+/6&-#DRY(*,';N0_+,$T,`JCY*0,6P'KV$L
M0B0.&M3%#A<K9/!:\5-\X,"#!7^0'_@G"1T<7EBQXLQ*C)0,6ZDGE>`+;(`0
M&BBNB@VLL`076FZ1S113(+&"DEY:.$P&;;0!_X>XE!+SZ8/)+-'$%%UFT>(7
M57`QA9(-.(!@`THH3(4657JC!`,.-JB"0E.\T047<'0!Y\@C7]SF'B:;=/))
M**,T1B"2$JLI!!:^V\$87ES`:!ACYBEG&7CBX24D=5QP81EEEKE('1EVX$B=
M'4XRJ4J7\/1I)?A$W/.EPE32Z2P[21JAJ,+VK(DER=R2S)>OWJEJG7>"@:27
M2^U91X<6D"%+!Q)&<(F%JR3M])U[OK('*TVZT30'L>[J13<#2:H/I1!VB8&$
METI@@1<99.!AV!V"E0$J730)!M3=@M%EAQALZ8T64$M`2H?-0-A%-DUT@4H;
M6B2IS4X2(,F,%F1BD/\$%VTLL2RL#S30=046"MKA7A[0J[>$%GAI03$^9_H3
M!)<8&H<8%JP\](."@`*!NQWHI;+6P2JF[V*,9R*XA!=6X*"/7YS)`\``0[1S
MJ$(-#&"`!C!8KA)*:,%E9@@W&,X*#V)88848@N$&&6&XVC51F(82H9=>D(.0
MD@=5H80#*Z;HL493((30%"L88&!&V63&!3,DCQQ2FW:B-/ML)Z?$4Z>A:!J(
M.QE<N$B98>(91QEUYE1G&8+882<>8\9A!TQV5EAFF+9G"K"F/Q,/C.#&!=SI
M*(>)H@GRE^Q<5++K6G!JJAR2>6>=;K)"1E-.3]^F!9\Z737#T^$J'9E>D''_
M]2G7W^F%A%KM(U$;KC@EN(5@8@CJ.A/LE2$&;G8IU@46HH\AP\F"618Q@D/8
M01OCB<=M]\F^IY6D$BW9)3A=8X!L>7OOC5O-$AJ5@01?8M`!&1FLPT[@R%D0
MQAABR$`G5@)!W`H%-Q*D;":WPIA\'*BQ@91@!3RB1,BLH*&>Q$1`A>D=KGC$
M@:K1+$(1LD059,,!#*Q`!\&@Q<^*U0+J$`TE*TE,SWJ1!W!9P10Y(L4&/GB!
M+%!(%2$TA0<XP($..&@XNA"2D<(&#@B5#6U3A-*4Q@,Y\M3$)#]93P`CL@QC
ML`,DQU`&"WCP)E_`0QE;4@<+U,$#.YT,4#11%$H,_Z2=GT3.)81*&4O\^">B
M8&XE)&B!7D"E@[G(XQV:T(8]5H=(>R2C!6<1@>?(DB'1O4,;O>A*[=8!EQQ(
MPE6Z&T$';463#[3`7<'0QFE:``F_:-%0G4N7O88EG6$-`SPRH(&:H.<"G5W'
M?CHC@03MMX+X1<^76MH!#X8Q#&*A1TTKD$Q@TD*:;?@B:*R[3L`*0S!!"H@%
MPPA6,P/T@1'P0#PQ24D+WM-!B]7G@3/A'`M68`4J5%!D*PB0@$ZRP?'4J@4#
M&``&3#@SK]&LA+2P`@8\L(OEZ,(2,:@7].)(M)B`@'B2R`%QJ(8++5AA`U/8
MP`6T4#69R<P2/?*1A;P&MO\BB0TSWI`B%6UZ#[71<8"H%)AVKN."&D`3C,88
M1DB,<3AUU*U+"#F3"PKUU(`=Q2BUPF/C!J(HGEC.2GLRB9^,$A,2D<\MM-.$
M[?RB`THAHSU[U,&2N@$JM=PC'%KIAB9:M2K;R2-5.E!@[PRSE*190AL>T(:T
M5O"P!&I,!-A+3#$YY\OH#,LQC:$L,891V<MB%IKY*M9ZT".9Q)I2,LMJB@YT
MX`MK=;,FG+M./S<6'EYAJ0;B&4\-1G(EZ%D)GJ><)V!BT`(4K"`/IJ`"*9Q!
MB9$ET)^&*5!`+5>2E*R@90<5(4(I42,K0,)2VL`,+7SA@NOLCYW_I,D*D+$+
M*S#_5(<4XD^-4`C"%H5PI1N8D14F0;.9Q10<WS@2A,)QTYM:D8XPX:GB\!A>
M7ZEIG,<`()CJ=I%QI".I?96<GO*$,@/YA&V1(U3;3N)'HAT%)2_@%2#)4Q(#
M2*:0IBVD5G8G(OS,11N1B0$RY&&/&TNJ%]I`U5?F\E93:BR5EG`796#IKF(2
MCY/`X9UA'"9+`BZV!#'P%X*M;.5B#DH@3]TD[SIH@`\X-"^JA`HO"$)-Z_")
M!##`0YOU``,6&$4$!;FBDZ-7L!U(YF'U\G+OY+G`4\XD-,&MD18H(8U?Y.$%
M*>G)-SF(2EF2A*`8@``'/!`A7$@(0I:@A(-@QFE:8,86_\$08'C)$]"BN*13
MD-A6%738HDZ3@A0<:``(>T.S%UF!`X^`Q'!FI@M;:(-=7'&&L+WQ7P!341G6
M&C!,9/GAP@PJS3#)LC+/XYW+[F!_=]HBXXI&L#O.<&!5]8EVA.S5/*V`$LGQ
M2:1+4DH1P9L$+("*M9R\0MJYX%JV*UTW,K0+IYBNE7P-<I4.T\I=4,8JNPA&
M`K=%BUSTQC:AT8%NBCD"Q*#36HRJG0O:7:!3/]5`)-"%)/IJ``V$8``Y(/+T
M>J.)Z969V=%.2F'P4(0BI"`.<L!#PD2PK\P-13'FV0$+2(`3:/OY8A9KX$PP
MP(L7[(>XIG#&+R[89`+Q!.15LO])"##`HPT4!T)#FIDE-D"C"D74-#H([PPV
M#N[FJD2CP2"R+CA0(U6H0M<UZD`#(D`)%UFM-_3584*!%XPC><,;SG@0+6J:
M[+,MNR1Y!#%@JAK>/++-RFEN;9]DV.RIUFJ/>AS]B`C#=<G1$`/77;3<P>EN
M`E[.4)>#''#28ZW#K)A3CC4MIT@3F8(/AB4AT$M>Z!X,I$EF%YHH#I&+QT):
M!$.%P2-!#';!]D'JY3I93BRC)!-')F><D,&1J*Y.,AB6^P42R_&-)BPA"9CO
M3@?:)H^OKL,2%LAAYW+0OQSTX)X-HZ&BL!*"*`CJX!UW"[Y`NYC0V)D\<(8I
M"!)FL`+_:M*.`AF012&*PU`Y#&@0'PDA"+DUK/$`2NB`2H"XU=`0ZW`[*$,)
M$0D!SPB&X?``*\@[5;"043`%+3B['\$O".F`!DFH4?,`;W@B"N$QR)LBR4LU
M`@,,E.D5SBL]:6.N#DHUHG`V<,L.7,FCG>@G/<JB.QF/?B(1](H!.1.Q#!21
MV`LDS`$G9],)T!H@C`L5$I&)@K.CH""DTX($<#&+$M$!6E`E\ZF-7J"%'.@%
M7=BD7>"&WF`[C1*&^@F:8$B7C)NR7BB>E.@99+`$I]*!Y;B^B),6#2`)#W`_
M#2A%2(`$32A%#]"N%M@5-<DX$%"/FF,!%2@"/&`S_>LY+K2C_^Q)O?%P+#"D
MF*4KQ@8:#`11MZCKC_[PAE^`A,CH"7_"HP(##I5K@%IS$)FYA9DQA1.<+VUD
MCK6Z#K>KN2>TB?"108G".Z>Q@E+`&K\K/*MQD0U@@$G8QL^P/OU*DN%`MB0T
M&\EKB3PI,.CJ%<R;0@3CPKYZG($,)X)T0M+3HT?K*C&4LUGDCPN*LP*Q/"^3
M,]HCP'!2%`):0ZZ[P_K8JLYAI5TX#.38%I=Q%UVHOLT(AEK0%8F+/L3`EKRP
MA6`SC</"#W#IC:68%ET@C5O0A+#8!8E:#N,)`2+CG>5;@?4K174QGU[`/#]J
M`6UCMA>(@SC``^"8@R*0@SCS%1F``?\9,#JDB![)B!Y?,;KH24LX`XH0@`&T
M[+/YR,OZ``X-@(0\X`\=#!)28`8/Z*>LVHGG0@G@D*XCHBZ$X@]+F(0J,*%9
MZ(W?T+!R3)R`D@G\V!:6TX5).*F\BS53J`)LW(`'F1EN-(6I\1KBB`'N<J+^
M,@5M\,=_A)*`K"KX0!F?TA_-VZ-N\B<#`3%P$DAG6\B3$!2%O+S&N1S'$4/7
MPP!2*`6FH01DNC^PBI=?T`W(8;2/_$(^T2WM0`I32L#3(X^AN`Y[&HB\V!82
M,!]Q"8W-D(WJ"[4.,0MMH19$+)Y1XYT5`)?B0$IP40YJ8:&_>,]`+`[=P``0
M"8'BN#1)\$3_#>"*A-.RDIB>.(L)%-A%78P#/8@?7>2_7`P!&6@S0-`#/-`#
M%+T#7L"#.P`&/9"#.Q`/&1!1.V$Z'`4,`^`9J#$T7"`%7/`&4R"%76&N"FLT
M+0(!!,&`!F``&D2H;F00'C2%7)@%2^`GI/"I$G"[MO&PHE@!3*$%IM&%Z]JA
M5""%"\$:!C@BP!.A1_``*E@.A-*+)@H;%Z$%V[Q-)UFVP\#*APPQ+>-"+9M"
MPRC/@92A)MS-/R&WQJD\.S(:<_N`%:!.2!@%2\B9Z](-F?"`4M"-S!F_Y"RQ
M=A-)-?1.].2VW3H]#ML9ZR.!90'$Y;`$0&R.V"`.VT@)UU@A;U&-_X8;@6A)
M1%I(.%N0!%>EA=C0!-XA`?=;`?BS..-H`4FHS-?<SHH##N`4$$_,"91`@3@8
MRSG8.3R0@;K$`Z_4OQ3HN1HM`CZ0@R)043EX@'4]`A0M`A5X`1;`@P=(@46+
M#T`KQA70``RXD%^HFB!9O&`@L3$<PY*4O0&@M5J#!/P2TPN`@"JXQ\JT!`R8
M/`'94@3CG>9BB4Z)54M8QQVBD#*EA$I;O8@U309X!)FQTA@86=DL$EV@3531
M4RA1!Z`XNIQHFT@S&H/L)J'US0WK'7`CL'_"P@P,PVL-NJ8M&DB[$Z,)BI.X
MIWN:3ATJA5*P`A+(`T@(6%/```L,@1AXD?\$LKX88)ONI*%O"SK=2HR^,L]'
M`UI`"E485+YV@0WN@<'>X*2D`)<:TX42T(':`(K2"-;?VI8(E:C8F(7?B@U)
M4`Y+`#,2D(3>@`VNR(/(2"`[W!@)XIT<0`:/&PH4>("Q]$H/C1YRY3D\Z+][
M9=>=NP,4?5>OO(,2?8`X>`$8>%<58('Y>*!YDH\6L((&\``*Z<90\X9++3$O
M;+=("P$4P,9::]-NM((+0")+F`7W`S.-!<[S8-63@1S/"+47H847V2$7N2XQ
MI374G$=:Z+L&2*^R(QXCF=G`RU.<O0<^M;W.*S`F'+V$!,Y!R9Z%A$@^<:T3
M^],`U`DO#$`1\]__+92[5"I,=S2%7=C:3H,$K<T#2MA:G2F,<A&%2:`F2A`%
MZV2G14U.C"I4N`4,N84NYPS)0P4,0DH@GN$GXBNL8(@S$MB&&=,&;I@,<-"!
MH1A?93$M6V`779`^9QFU;3D?3BHE$O$`9B&!`:`JZX"*$*B=M?J`$QC+-N/0
MW?U*%;V#G6L!/8B#!^`YM"37->XY%M`#W(4!/5"!.("!A;R5!U*Y5CPB9ZB:
M6Z`0(S%6:5P<&N(I1@N!'L'&70!!\^6`"Z""YCN?0-LP@A`&8>`D4!G)#X@-
MS,`:'?GC/S[9"\``!J!>"+&""(A?E+K28/`&#P$'9RA"<!B.F\W?)M%9_Y3H
M%W*J.>+$G$&-PH.<H^&TP@]XC.,\L><M/:=EYJ^ZDCO1H$+=F>J#!`Z(61*T
M`IA)H4D0!:WU`)=0MU0P!9XIA5N@!-18'$<C3[@E8-G3K=VR1F_;$SO<3=F#
MKGD;H.JCJ!U@NQ;P!=9!B9ZQGLA@N-X[#+UH`6H.JSMT0F'Z#65A&R\^5]4%
MUQHMUQ0H@J^\5Z_D18Y^`#T0#Q&0`=/E@SM88]_]7=X"-`/`@%Z#A'O,M$#^
M&B.Q@K&='&+&%7[*Q@BX--=<J0NP@EFH!`\P``;R"1;P87``4"^38,_`C$J0
M7PHA!<#K-&<8!5V+`#[DQE3V(9\VCE[P!J4.AO]?@");QF4GX9N!<`'PZ!+:
MPA70X[S?%%JVJ>=:@1R2.(A2J^>?U;!F=N`\6=JD/8G*<8D7X+0\P&I+<$<.
M"`$#F(11\`"LUHD5*-F[4X54H`0):H$\T)6<V!EJ7HGXH68&!NTK<F'X(`$-
MZ$AT"^P,TYQ`.@HW7*RA^U3.5<Q(-:4_LY4`8"!!X1<=T`!:N,JD.(%S+:;5
M55&O/%V>BQX^&$L8L);\BP,5$->3R+\BN(-WA0&\[%=C_(`!T(#L-8524,W`
MFRD`*;>BV0DM4CE+NRZ#<DVLB9$:@00/P(#5EN(9PI)=X*]V0;+78XD5<)9<
M*"(KJ%GSI80AHAI(H`+_J'DI,?6`SF8EW*"[#O&0</B%LG.&6T9K7<828X&-
M^:GA.@/@0!540O4K/&$)&6@P9#YMP;XJ+DR]X"2PRAN^_0Y/PR`!*]`5K=W:
M4BC,%9B$1ZALFR;;4B"%Q;:1YJB15'ARV!A2\D9GLJT1Z@00!_EFY_HR:$0E
M1K7KR4O,R?NGC%+#K7+M+1=S8LR8W1:8[2,-:AF@$##N7$Q7_VO=KPS7NW0!
M_9O1@1ACLIRA$L!7-2X"/`:T-C^E$##>RO3!JL$,9Q!;"S32`!^^$/"8];/F
MF*&9I[F`!SW%&"C,^D`+/=`&6/Z%7T`R\FHLI<P,7?,:4P@B"NF-"@D[F0$7
M_Q9B.*[0AH1C.&W8!B0)!F?X45/H<%QN(Y-@`6.1`7H!COB11KD&&-_,'%,:
M3X8YB(8X'`%RG)8XL,9QX%7G*3443K<YC)U9/TH@P1'V@$G(F5$8FCPHA5ZK
M$4I(!44;(G<4A5`?YWH?A5?LX'HO!=C(P7HGYU0U@$C0@(5I[3\U.!R'KJH2
MI*J2QG=>V(:N]CR"055,6V8[@7+5OZ]$2W9-T;,,:1F(@Q2849?879!FKI2X
M.=.]@VWC5V-<F0Z@A4JXA5O0A5S8^5!CHCSXON72(*W3:39]FO2:!0A1A2J(
M@!^AA(+R``\8'Y*0H#RP'F!`=5TKTM.65'-Q=:U&*/\?A>4.(>M@8!=3X(KS
MLIY=&"RF8*4..1)GF&6F,?;\1?:6,$MF%]=YJRCPNHX:H(&A-?$:+V#+(PDO
M:0@9&(>0(*=U`K%>08IOGW'GNO$9"@H_\A."854>IT[&EFP``0%*0--2R&P-
M[NQ4.)]ZE\K,KNQWKW==F<X8Z&`*G`2!3U42B(0<\++6+E2JNJ/F;=0H$Y%[
MOOAB9#HW%XART03PXA,42`'<?6,\^+F;VS\VEN.-_@ER]="H3>,UA@&541ED
MO/E24'K,Z'DB66(`$;=)=QN7#RXVM0*N"3Q:*"E*J(2^:T4/&(#Z(-N0232`
MT)/G%Z5?'$*$``$"(8D8NVC_T=(&*8\E;^"\D:)$RQFE71)C!-.&S%*P7KT\
M[$H9#-*N8"&W@8L9[!<M+93>W<NI<R?/GC[5N?@@M(0($B)"D)`1PD",%C*>
M#B,V;(<,%B6N8A615017$2"$@@W[(<0'KD)E&$L[;%A:8N.,L1#A@D6(KE>U
M=K6;]^C7#WW]?C5K]FO"HUZYD@T1PT,,2"L@67J!T!2E&*-2Q;!2*@8ES"M*
MJ5I!J90'$J4V7R;QF=*+4J96B"8M=K;0``$>15H!&,3>Q+01$A9;EROOO<:)
M\Q;:]R]ML0%J@WT>'6S=NR$@NR#ZE04,/=ZK8I5Q)TZ1(G)@=']PO@0(%GCD
MR-&#_]!O"#QQ'KQ@T7RZ[>>V/UP`22F6S)*++KK<8J`NX#CSPE%U05A761(*
MA=``'E!B"@<06($++K3@HJ$5ED#2``:06!%##-)]L,),N^010Q_.>&.*-+N0
M,&$(+0B#C#;!^*B--BGUH@U'SKC4TH_.T.*21,&DA$Q)NTBR$B3(Q`2.,)3@
MTI$[/H$9)D^\D%7<@R6L$`(++K@@0PPN\+)#5%'Q4">;)5A5P@Q;[2><4"X8
MLPPOQ/#"BS&\C"-#"3RHH\P.Q%2570DDE#"<7D0A)H)R7W&:6`@E^$4""0DI
MY%58"*':0@RCAD!B"Y.\!HDJ#HE""22IO#9)*;"E4EDIJ?^LH)DE*Z@R2@LO
MF#*);GV"-4(.FF@0JJ5Y]4G6;(0=EQ=OVWJE$*?,,=N<?[3A]0$)N_0REZ9C
M(837M"P\A8<,,)10@Q[R>@5O=S`4IN8=ZO$;+G7/K3#`!@+.<LLM!R*H"RY0
MIEG68(;-]^D***S`@17.6++!!K]\J$JR54!""08G>N"!%;OXA]`+F0U$8XVF
M_)*C0BWXPHN/*OVXBY0A4>+,+\*XA$R1#_MH4I.]N`29D-O`)-,OWA0$CYA7
M@ZG.LG@%!BI"*\A`U50[M)76H,/P@';:,J#-GL!F?<`"6\0L,PPORZ0EPPK&
M0&H,.\O0;8P+-<C`IE64XH78<F'_<5I6<N;NP`(+1I5)'5@+M2M"50W%$$(>
ME*P00RJNI3)LLJ&+XA@EM?Y*"0FFE#+))*EXD%"?T@600R8YD-""#BT8U95O
MY`9'W7#39GM8<NLJ)[!S'[`('75:51K"+I#HX(*I"DFLK6$/HIKX45B560(,
M>!21@F2W3P?6`!AT,$DE"3.<H"ZFQ#@YNQ$N%-BG)+P/,C6R@A9,@0M5T,(4
M6;"$*2"A,4A@P`HE&\!SD/("E<W(&QRA@A9V@:H0R*`7.I`2,H31$BC]*!C>
M@$317.(22]#"9U)*24I8&!&'9>DBOW`&+BQ1#:P!L2?$T`T(B%*Q"B'E*6R3
MREH>Y0*T_Q&#&'R+"J2(PBQK6>L#)4"+H*+R%,$="E#*4(8ZXC$,&1Q#'<9H
ME#&&817Q'<5/'QR.N6*P@QW<"3!99!S%$(,0%K1@4BG)`XQ6\`L<Q<`4JQJ1
M*4R1"BLH!G8-S)'S/J"!2D@B!LGH1C)XD1<*S69X8L%<\KKB+3/Y92R5E!YT
MQC4;K;A`5#J8I:*:ESGC?%`HFNK-!T4`@W^91S_,8I%T!M"`"W"`$AJQ'RYR
M@0M=D")_NI205R"DJ:_MB($#I(0W$F@)2E2!$I:P`H8\H#%;86``)#!`"T)G
M!5-X0QH<J<(&\I#%<^UB&T)BFDMD$`QA:`,7I/@%D*#D$E,T*?\8DKC2":_'
M0P\M*"9#<L:/<!+$B]X#'KY8`:;`-1816*5-<Y%!G8;A`AX\B@=L6Z+VN,>L
M.`*F!&SB@:'TM@P>I$6-[&@4.YZB#G4,0QWL&(<Z%(4IF(XRE8<Q2U)V$(-"
M[0`I\SG51[.5N5%-2E2BLMBH5,,9S!PE="M@52K%)1T#1,(2O<")/+9!.0GM
M\53%0V(I35DJY)2U0@(C9EAP)Q:MS)($.9@E+T"ERNY1BR]@V24N"1,"&*B@
M"'B@"_OZ&H*38<!C(TJ8,P_DH5_$@%Y(G%`<2[LCT4#$0XT,T2^F4(5WCK-D
M&/!`%2QAB5V8:+8O2*8W>MM;4FBA=O/_$4$,?*$-<#!-&[0PH0L95!(3BK`E
M2`I),"`"$0\TH+:TT(4VO'%<9\PH&.W`*'G988Q5=>M:1,$*>Z^R)AD0PTXT
ME8%1/$HNLN2)*S*E&U'9)@PUQB,M\:B;.N`A`V488P=%U8MA0JG*S"$D!F&+
MTPZ:"IOY)"4AR!N.F3*%')BR@""M6X$?Z>-29HT@!IG(1#?6L4FW"H]Y5#WL
M*,.7+6[=%6YQ727T6,FBZN1`$AIH@0MTT`M*T@>QPEM<6?SR2<7&30:3S:)]
M>]SC`!@3F1>PPB-,D;!F.HP6O\C/572IN./!=`4>B8@W/.2AFG!@`^&<A#(G
MP0':EH(6'C#`_\DX\`(JP-.W;78&),.",V0@@Q?:X`8XG-2+70"T:9!(H9&"
M88F`AKF!#,``!W:1(HW]XI#"2`=Y2PT/8>P@35-=K&':ZVJ9EL`$,S7LCO^Z
MKAVHU(KF>N(P5C",<00X'0AFAYQ^RA9CU``H6%D(4J]5&.;)M%!A(\$.G.)4
MV*Q`!Z,RCK>\<M1N'U$UHRD%Z*I7UL8)#`>9T(2+/6!DQ)FEUDV^)EV)4\IM
MW=5R>G6>7ZT</5V6H`66R`'P=)",%ECN>W9M\@B^,H+C:-C)DJ/QY<0%O1"8
MR&.T2)C"W&PK#L1`<NOR&K/'$IBO"-:ZN/`&`ANIA0U,81)6L!4EK/]`3EA9
MH@$8YT`P9M[;++59&C6+XXZ,&PP=>(0;(A&2D[1A"8H&M,T1@8C#WDP)#VP`
MF2#/0QZ``0QA?*G4I;:'.':!@;%2&7GMQ<MZV5M$&?=I7;]6!S&R`THM$@/!
M:1F'@8T1CP#G[1@N4`BF(N[@_FUO+&MJTQ9#)V$[.@2/8-,>^$ZYE6Y1CSTB
M6$$[654JWMR=-N,R@"0TD8EU^()2+=C![]"^'QEG,3%]-`Y@:(_N</W;WZP$
M.`D@HP$6^`SAMMR+%HO/Y!Q_TEMYW0\Q!\`!#F#@`AN8Q"PXKC"(I.@%*Y`<
MK:OY(,-@3LT;<?.;36'.#=C<5J88)VRS;B+_R#"CS3^_R&?WV`)>A"0BX(A(
M=VE!"5)\2(:0WYM5%XB4'P3=V9T-C3!L@]6(W0.F@S"HB-[,AYFXFE:\G:OA
M6[B@R@?X0J,`S@Y,BK5\!9ZPB:'\E!KIG3&PC:1\TGZ<$MP4!U),CA*I2`R$
MSE/$"5O`RQE-RII(3MT5A>ULGANQ2X=UR^WAW@<\`B:<WB[,4@OXB-&T0!4B
M&>-4'+L47[;-D@ZH2!5:87%(3.,$1B6-RQE:65A0C\!Y``OT`C(`CUXQ%K6<
MFR[AF_<TV8DUCWW91@-`D-:5`L<E#$1H"`>@`+S$DF-I&.C1!T/D0`(98,M9
MP?/!G#*-1K*($R1L_\#)O!,\>4@.]18NU,Q4%44+:(,N0(0MD`0MD)L6>,@L
M(-0`TH)M0=1V?<@D7@!*"$,UI$,\B)T]/&!.P(,X"`,O[`(.DE6WM-UZZ=<%
M*M]+"<4P()@O\(U*V5TJE>!5N("<L,TQ'`,++@/E%=Y"P.#G+8=6H,H*P(`,
M\(**P(:$\<)4%$I4^()32-%:`-7@\$!=@(TQ5`I]<%N^.<\(J-OIC5`R]$(W
MO,,[("2B]0(&@,56G9)Z26$W=`/40`TR(&2:F-)@K%+N28\KA051]%X.N&$P
MQ&$C<AM1--P(G!L2VAOW5)GH74<5/!\'4-\M6)^'6('V'2*;C,I',1L=I?_*
M8ZS?0ZE"B&Q`!]S9:%2")*W?U5&B1JP<..`"*&H0),2>4/2>+G`,1.1!(SF#
M*9QBB'R(FX%(:@V@)50!,D%:.CA@,,KE/;Q#.HB#,9@0,HJ*!C(C>\7D3([6
M!QP;+^C=/9X1I3!;YK&7Y+!`Y-P%Q32'[1#><FR+XUR3:L2%JLPC6O""+[`C
M6NQ`/$IC/`H#"\J),`B#;R#A!E*<Z($%!D@"B_6",KR#1<K#.W`#-\C#;::>
M!KQA+^3`"*B&5N5(NY"`#G2#/0#C<M)E,-17]\R5O,V&7Z$A;6#%![0`P?7"
M-K0`%LV@']G7P\4@<BA$Y>SA\D5'``2+QWC,_"C_C$[.0HCT9`B`#:0)'X0@
M'E>2@`M@0"_,(B4$5(CX'P/`7!600B.Y1BEHHA5L``-LF0$]TS,!G194@1;8
MTZJ1Q0K8@B8\A"Y`@LH`VFD\DP&B)2I^""U40A5(@`2@A#*0VES"J$[8`SRD
M`SH0(R^X"?!02E8L8WL]#C0*YMP8PQ@IPUL@&"_P@.9(BE_FQ8XF3I/!X&[T
MQ;HHSU^0!9J,5-Z<$8X*`WS%8]^49FA.6)DLE5UYBW32!@E$0B:0@TFXF$(B
M@R;4ID(F@P<$@T*N`W>.T$J8A+8IQ'$BPS8HY#W80XMUPY$ACJ6015>M6F4]
M3[\IQZ2@R2R%1.<TV2UI_PI[L,=?3"E,DB=@X%X(<``D5$*<R5G"5-][=LF=
M.033P&'XD)+C".<Z51=ET$)2)A`E0,`Y#4@CL2+6=0"G,4"'0!0X1!0X:,,O
M,*@]S=@'/$0.6,+]>``5:$PC$8A96M?Z6<(C=(`$7$`N[H(XK`,]S"4PQNA.
MT*@YH,.ZWFA3M!-LO-JF/F,Y?L4V[MTXI,-.[9TR#`,)[)14#,Y</*9^)0X=
M]4FI\-&G,)EP?$I5(&*J11$+L@5:^`(>>6:AJ)*GSEMKBEZ.H%4DB(,OZ``Y
M(,,ZK(/!X2:[=8,EK$-M+J316*0VF&PR^.GFJ8HD).<V2$*?=N&JH$KO=.'O
M7/_A,%V9[JEAP(W5+"%:#"P6\L#-8H&%O&I+8&@*<RAAA=@&!U3"(\39(Y2"
MPJ#J@+!?T*C5,:H*#G9D"#0<"/1.#.A"+MA6@)J"R&Q`G.D*@N:937)``S``
M`U"EA%[E@C!#'CQ?YY!@6*S`HT'"=ED"UR53`VG$^DU"%71`!:RHM^JB,(A#
M7)YKYV94.D0@:HJN"1WC#3Z%X1P.JTCGE1)&"9#-&@E5.2#83_$""P`5,:@#
M#P`.X+``#V2'X6!%\#2J+LDA\ZP+AYG*\BE<\+9)5<#7$TD%"Q0*CGK*_H2/
M-3D/!HA*).!`,I!L-R`#0QJ</*R#0G:#)A2J)G2#/'#_0_C:PT*^;S*L`-L6
M40D$PSO8P\$=YYVVV#;L`HFU0"\DPS:\0_D&P[)\9-&^4L#AH)$!B;:9F--6
M"GO(7M,Z[41R:EX1#,9E2+!.7ZI6WRQ4`LTY0R95H<]HPL`%SU_VSJ,YC#(9
M4%*NWQ0\WR7"(BN:@A4P0`-D%X0^T[$RB#-`0A74CO5>TX[H@`=`A!#OPCE9
M00=TZP6L:"ZF3$J,KCAX;A;G!.@6(PU9L>CZ0DHXQ"[$R0V"815BVU@9@*A$
M3(7(E`P,U3B0T7_!0^28T1KAL;&Q`P_@+C$<`TKYKN]FAS`)QT(85H5T!8U9
M;6*^8.9<!:6(W.+I1YE,R_+8_PZ:1B0):$`.K,`.+.0[A._!)8-ROB\MZ";X
M)J>0X"_XKH,];$-0=`L)A"\H]PXRK.\G=\/OE*P\O"]=)H/-.&J_06I9E$`,
M$)PDR!`$D]9QS%B[7+#$-`]Z1L<`A(`'5,(D>`PE"&(IS`\XB5-IC$``<X,M
MZ((EM(#")>'^(L,+3YH,4\8&-`"&Y)D!F<(MF%_?RIEU+0@07P3-6`%L#&<:
MPT;*0$)!?RC6?>NW=H`'Y(!#H`2DC>XYF*L6>^XP0IHX$"/I5K$5\T(Q]L(A
M>7$O=/3H?EVAQ)*3H6/8L(4Z4*,Z4(5Y&0,\-(H<OX5YT=T.L,.Q*</?K!&Q
M(=D>@?\2YI@<<8#JT?8&@WE8!]+;$6-O@V&R`6B`5NU(,KPL0[8`5<=I+T@"
M-]"E<KZ#^A;J2>1L"XAG$7'#^_9"XK8R*A<PHKW#;<8I71[97DUG&AYM8[0`
M,B,:[QRATR8?<"C'+14'!E\.N&#<`&AS['RM(#X"]5'"G<%&"RQN"@6#!Y"8
MF191#/AGM.(")&@!+:0"+9""%4P!!$!`%9`./8>(.7'()$`B1!U(EJ!B001#
M1^^"+^"V+Y0$;MNVIZ4,0WOQ%XO#,PQW-0QW.<@#15/T.Z"F.(!N.IR#."@#
M:@+#HP4W_HTN:OX3:OH"T70IF2*&XL%75)@F"Z[1/:R13`__0SPT"@O4`#O@
M+A[#U^P>,B*'-R+WCS0K55Z`"O(=5=5"J2JALS49WNT80`Y$=85H$J*A'@D(
M`RCOK"1L@SQ8Y#88S83KZ?K"H9FT`#?,PSKT0@LHY#O0@OHNI"F3KU9KPCV`
M^!4"YI6)9/0@17;&@`[D`*(I,SJ_H%YARS/+8%*%!:=AP"3HY,8)XBQ4`:Q@
M'6QH1"[00B]0Q5B92UUPB[FT0-,\TS<=$*%5P11P6H8@E%I2P@4T``<P``-9
M0K'F4$S42#!\779G=W`WQD-#M.9B=#4D@S%(]S:H@W+[>3R@PSG``SRPPSL,
M^J"K`^B.`T:CIC'2$"&)L1<34AMW_\^#F:#O!I44^5U/\\U/$<.BS`-[^TW=
M\`U.!T49LMKT)`8Y9C#5UA6W'8;)43*!]T^_1*:H0#7"<8^H^([1D``OM"S4
M2#B$[VP.)"<RK(`DK(,\R*^]B7BASE)RRD,XX"_[T@+^PJ$.:`/Y*C/1ZIXK
M20<(C(!,S9(DW#@R<#(B^W6F!.8U!>2Z7&V+`-#)!"(LZ.2]ZV055$(E;&*0
MT8*3_\[BY0CF<<N.N(02TT+)W*HI4"MV><QIB(Q90@(#F*JOVF)LR_:'0,FC
MP\@QY@&=T]#H/H/H*L,SC!$Q;H-S)[>?L_RA(SH\&+K+P[P[K(,ZM$,Z+#I&
M&\/(;T-V*_\%P,&4E5:*"T215,"W&MTK,;``[I)13+?1.-@-4"P.@:L[E&$A
MIT`<8OTW7@7']^#G(J*IJ&A`KE\A5_2."X0S5==FE=0FHB$#SLJ#<][O.\RU
M?NG`*M=X.-#E0G9#^R+#;88X<MX#=RXA&@[SY4Q*"VC`SHH$)Y?*NF.HNE\P
M@"\R$J539GTM?()M]:'V(TB0;?U[#!5.F4V(JR^$FKV&-C10(ZG".+$G!U1!
MF)\E+4RBG(43#/TP/QNK!L%Y<Z<\1I]#SHL#GN.EZ/:\,"3#,Y1#+[)\\^_$
MC,KTH.<$/=#H<UO_.J1#S+.#.PPZ.[3#.$05J\'=J>#)FJ!-3M'_7:`,`][$
M-SN`C3H,RC*X#;@@58--2%*Y^JMW)(#36ZQ23*T#A(@/'T`,-/B!A`8-D#20
M&"A0A(@2"!&V0+8-F0X=Z^S9>]=-T[MWO4@@$TDRHD1)(I.UV!7.7C=DR'K5
M[.:QEX9@[^RU//@3:("!0C\(-7J01(D2*UKDJ*DM6`X,!$.$2'DU(HBJ5`5R
MO0KB*D&Q`PM^&!`"`X,-&RS5FG7KUJQ9I2I!JE)JDJ5'FF;ERD5+!XL92A^"
M!2L";`@2P8)AT$;)BBE<IB!KH52E`0=3DB7CTL9A@UHK56C1PG5:%SC5JT]O
M@]<.7CK9L]7)1B<,]R[=5G)X\*`;M[AT__#N%3=^''ERY<N9-W?^_)X]>O>(
MIQ,G3'>>'+JY"_,57%SX\#*Z2MP*E"!6I258N.#A0L:R9>J&$5.F;)ZQ8>J,
MJ9,1PJ"R1+"JJP^L^F!`],0Z[*JJ"(RH!*P0*Z@L!!\<<$"MM%)0,0,PR"`'
M21H:J*J40@#!,!)4=&B79+J1B99NPM%A!6[>64>'JTB01)YWD&%!AYO"04:2
M8)#11)L>D0FFFWM\7$'!@XZ:LB@I!XIAA1):D(1+2VSI)8<6"I,PHO,.L@K`
M!P]#4<.#R@IA@`8PV``T6N*Z<RX/&*"DDKK>RL462+(LP8024+00+`3+7*P7
M#&RQQ`I*5#'EE_](3:&B@08HZ>PT6JRP@H,JK*C$-%Q2TP87<)QAS!M=<''&
MG&>4$0\W87[9Q8,++@"`UUX+N,`#7LQ19SKHC#T6V62?LRZW/'#5`1AAPF,6
MNUVB_8_$E`Q$#T7$UE-*A*24<L$%%FK881AC]%-G&6(`/+1""PW"$,"(W"1+
M43+U3:E-$JER$*(3!080*16;RN$1'')PZ`,66"#0,!!&*+`BC5KH9:88+.I&
MFQ8>M.B>=4AJ(1F>/GK12)/7$4D>9!B.TLHJJSQJ(!)T:(&$'#31Q!):OKR9
MQ`N_$HC@\Q+3]]"Q%*MJ``^LV*`#2G)YBVJY(/&@"KMF8:46P$B(:+#_&1!#
MD,VL(EH,4EH@,T656RBA8E,K&&A`"UHD*]422ABP8I+2.M7&$FV\T>:954T+
M!CCQKJL55UUUU>`W8="!QQYE+;\<\V1K(^<ZX6:C]CMA>$@00H*!PC`E<,'U
M]EN)Q&6A!-,#S+?`!..ED*""]`58(@D3%:O>>DT4>,.?0E@A(85"C"02*#^`
M80X4,/Q@HJ2!4JP%G&W6H9<51H@PA(VWT8&$$7381B2/NNEE%_1%XN9%DD:`
MF4HJAYHYS!ATL"0226CAIA?DHQV9TG2O,C$H4:3["0F0EZD&0"T+<L'3)$I!
MBRILH`J/*`4K9F$)CX&E=06Q2ME2LH)@`$YM_QY@FRE(004*4H).'>`4+DHS
MB;58`A>SH"$W=F&)U:C&$J;PAC-J)1S.*:Y6TAI.YIC81"="1Q[%(0X\J$A%
M^I1'6[)#4'JNLAZ)1`A"O0O+3W!'H01EBU[PFIU6PBBT,&+%,&,Q$-&JDA@-
M:;$J"<&`!A36IQ5490YRF`._#$,Q@YPH7B-8T1R5HI&;?<]FO4@&36C4`AU,
MLA>2J(D`8?83HGSR>A8+D21ZQ@U)8.DA7<3*B?Q%%L00\(P+7,$*Y!2J2L`%
M+AV,VB0Z,(5*L(*#D4B*V<(VMG=EY40D:$$P+(%#4T1F,J2(5"E@2">VG:93
M3^.`:5Q%BUYX0!L_!/\'+7JF#=C`HQY3O$<\[C&/)[X3GO$\UC`&="$%24AU
M8(S0/L&H+069<6P/,=.[R$(A-]:30/WDU^P>DLHR(4J+)&J!0OB(`S\.!`]X
MD$.$#K-%W`D44=L*$(/"Q5&PK`AG8&0@\E94OD[>SW[W&TH(>F-)243"2[:0
M!(V^MJ\,M1)1!-R0(0UD@!5@(#,>L$1<9N&6*DSA@AWX)2QF`0F'V"L$)1B,
M24\TH5=>C!:0^(4N3#$)4JA"%=(D!64RM2=L9I,!I+F%:6@1@V"D2IR2^4;E
MY-E7O_YU.?2<HXE.Q\74J2Z,_!P>&0U8(`(=*&EE$1"$%(HZ,7[E3%MTT&/_
M[XB>A.0`<CF8126F\H$YX.$.,&"!B@@D%A'\D2QU-!.*+M2MCI(-12.0F&Y%
M,+^(HH<H,C-(_3YP5*>`J9F:T`4WB*2!`5ZV3$5S$TE?>2`\5N6!#8"`%208
M%U.$!JJED,LL/#``LIATJQ$BP0@3^(%=Z("<D,B%);2PF4F)BC(0X``&=N&W
MTYBB`QZ@1*G"N@)MZ"(U/ZS@-@#;8`?+,Q[T5,P^?SM`+R*V=ZO+2I0.]<IY
M062+"QI+ZE:IRC'BZY"T$UZ([Y4\A>!@M%`*@1SJD%$^X,%A#VT8'F!01]H:
MZ%VZ^TI'X<C>"6EE*_&*$BB#*],`)$0'3LE!)C21_XGE:J(78O+I3U&,.NJR
MDJA`=B`&N$LUM7'@`ASX925*X8&#F$VK)9"!#%80@X=ML4S!Z`4M-`$)LD*"
M;9.B1'TMP8']6N&MN*#$!2*@PM+08A<Y0'""54-66C#XP9G6-.:&4945P"Z@
MC+W0A1/+3X4"1;+I*<M5M64]-SVHLB8^L;^$3$#3*49%*\B!5'(0B1@;Z`YR
MX$,=ZB`'/V14!K`#@0KD@(=C(K*,JD13F?AE608-5LE+ME*3![)'#9#2$G*A
MQ7*))*917Y:-##VDA`[D6`=E)@(#X,!2[91#/6W`"G1AB'G7[2T6\`)QD+C9
M4`VB#51Y:IR`5L5D*$'!0O]#H`&(?JO<&J!"&M+")>!(#:4M_8U-?QSDSZF'
MA$/0'L+(T:!=W*<833W&"J6ZUM3C04\-5,9XP7I?^HQE8^$XH;$4!*6][LV:
M9;R'&]^!#T:OP[%1^P(8Q$$&K,9M00V+&#6=[:#=`G+)7Q84F=',DQ_H38@T
M00NW*%<7VI"$N<]MHI<WE-JK+&#04(""S(!*JG@RQ0757(JK$8PH(#"41'@1
MSM)XL"LE"L&X=4$+#Y@FB/:ES&:HP(&]8;/QB\X,#FF(`1UP(YS@"'WC30&3
MD)\>]<:1,`E<,(QDXZM"POOBMU9.>_`%]'9P!Q`+EC&,AT%;COU>N;[`B";9
M29?_NHLUR(IV;0E)>(#HP+[#'C*Z!Z/KH=AQN`,>XG#LW\-NL_CR*0O^H`<6
MO%)"@X4!CU\*RK`C!!)AD@1?8%&+3*A&IUKNHN`;1-!#%7"5=.=Z4,!I3,'0
M)$.'\`+-\JTN+F"6&*9;(B(&G$$U*",88F#N#&3<_J(#G&$RG,$9-D6:G,$2
MJ@#-.,!42H42#&W>9H'/7,+@PLD9?J%5-B,<4@\'06X>AB%V2$`&>,'U5BOQ
M"(;$,HSE9J^?".;MH@WHAL$7B&$8>&`%K`=WNNJ-\$FA6*FP>BZ.1,@@#&#7
M,J$2.N`1MJ829&S]^.#H4$NCU%#8BN`(BB"U_N#&8$`&_U1+M98"?'A'*_P@
M#IIM7TID!31*#[3-_;[.0$C@`OH'$BK!%FK!+1A/%S0!2DC@,!0J,5!N7H1&
M=Y3P33)#AE:0-,2M%*S@`CH@K#P``WRCZQ)C!9[!&[R!F2SA`M^L*H)!%_[B
M4TJ#;23EF8+("CS`T/SK40S-`TY(&V@!<0QN&\`A'(+!%,!A,SPN!ZLQTW@0
M(5R`%WB@!>;LCUAOO0:+LEJG]KQHPS0Q=\@&079`792!7=XC0^)E0'2.^*CM
M0#(+S&RM9I2I!3P`$C(A_BK!#/^HY-:/V/3`#Y:N#F1@^O:@"!+2V&BL#O0@
MZ6[,#RY2#_0`#W-,!%A@#Y"`#O_PH)\<1I]@AP404@;:3Z:&:R#Z$1-&JR]F
M01:Z9M(H<8X2ZHM<#E^*)OV*QT`&X*@X(%*<9A+>PA1F81)`(R\NH&D@H;1<
MB03L*AA^@2J#$94(:B`@P504;=Y,0Q4HX:PV8S)`90-,P19H*!D9`W$"!W&0
M,?16Q1LHP_2LD2[]:@<9AO7F+`;H;+76BW>0L-1F#XX8Z^?8A`1XP!B4@1=X
M@5V680>2[7:*4#WV3POG95NJ;4W81(1(``QSH!&'#IC.D)588/WVP`_VH`Z&
M30_D`#7E0`98$S4/(34_L@ZLK]AH#`]D0`W)0P3T(`Y0$\=*(`USLS1O#"']
M@`4,<27_F^S)'H&#Y$(7W`(Z4T,2H&1B]J^Z9"?5VBUX+C-H5L#0&@X"V"(N
M)B,+&H`T,.,"($%0?F(%=H$Q\L!9?@$R\@"V4@V^$(P2,``22H44ZL8;2D,6
M+>$73,/@X)-]$`<9WDLW8E`UM($9&&XNZY)"X8D8)F(@V$,&8L`%F&*E6&"6
M8$<I1H<<D5##U&B-4LE`>&$<E($89$`_]&,9>""K=L`<:V\R^PG)4(T(JRTK
M1`A`#.#;,B$2<L"B..@,!:3D9$`/]F#ZXH`/6+/&7D`BE2`V'9(/L`\)3#,U
M$Y+'2@X/%)(/5N`/))(/`.$.B`T)[L`/Y.`.G.>EA$NX,,#7_P0R%VKA3F?!
M%AY4@+Q%\!0+Q'YN=DHD0]`D:*I"*"?!"L;S*%5A%O9N`RC!$C!@%:W`*4.`
M*$A@%^@S#V+`"G[!&:2!4OY(8H",!'K!$AHO&(3RP":COEXE&%:E0<F),2!A
M%WH!<78!$K@$8T#O06F0$CJ@'2J46-^)&%Y&*50$1).3]>#C,66`!V3@0E-'
M\/Y4PWSN7F`O40Z3/X#0&-B1&(C!!4C`&-@A7'UOM6)M,NO(>"[31W\4!)1I
M!0P@R@0R_GP-29V'I$A3#\+T".1@-84--FOS(O?`-5^@-F$`^_C`#XI`#V('
M!@BV-G7S-_6`%Z*48>N`334V.16$N/^N!P,$,A-DTB_D(A=2(\NNBE"KU>J(
MAJ&\T)C232L8""@Q8`J`$0)&T5'WK@HNH^)\PU(QH&@P(`\\(`]^@1EB,2Z=
MX0644`1DH!=B,!EI\1>001N<H;Z<03<PAGT&)Q@T(5>Y)^`80S>L]E<!9P.&
MM5C7-G/4P05<"9GZD@7V<LY:CP?291B&H09J@%QL;W6T,/<ZC&!:3UV(X5OY
MPQC:PS%E0!T05QV.@07>HUQ($KKJ"3T$(@+-IBL4B03V*-PZJ!$W*,8(]2M8
M`&'[U72/X%_U($W]@!<2<DP1%L<\$C7WP`4Z$@_H0$WKH!B0H`Y@0,Z(+0;T
M@`XN$@F<327_86IFA+02/*$27*$O<F$F<P$<`,C<V./"]LDG18R@IDU@NH*U
M/,04*NA33.$63($6\,+A-D#`/,!3]W,``N`LP--I*&&(I&D*=D%,4,0'<74;
M=L&N#I0QA`$J5H5LH2(8:`$JM(%]$%@;=)693J@956,&X](*U)9M,SA9YH$7
M'.)/::L$UHN!YNPQ>4$&T@4*C2%<B2%:WZ,&:(`&>.#\XC0]#((%]L,7C`$(
M60`*873.^*,<&E=OV:5QCX&%AV_GWLQ"S,:.Q$)%#$`21G:T(B$3.,@1*,%Y
MHHN-2N`%\`"V5F#]5$NC)-8/0B!,[X`]\,!WRU@XY2`.BJTVJZ$(_Q:R!/Z@
M"/:@7Q^R3?%@?CP6$9DL(3)@%D:6%?QB:OP"]`2(!.Q#/V1`>W\**V./>+ZW
M7A"B<R'!!7%A$JK`?#>#9TOA$3``,CB@?CT`3HQJ!>KW-&90"Z;`"NX,!%B`
M?7:!@84!5Q=TDG;!&RA!SPB8EG^A9U;%:F^5.^"S-$YE-690&TP!$NI!@Y\9
M6?P#D6+'09""!1X370Q7/Z)07,-5/XPX7?XCU*(D'A&D!,AE&-CQ!Y5!!I1!
M7=1A'.+9&%HO'MR9'1IW&0;#=RX7>*:->IQ8`T1KO#CH.16&8<IEA`@$!GI,
MB1MF_3(2#_2`!-A0(OS`=U.R!,)T#^RPV/^HX0AJ3`^HH0B$K0Z*H!BB%`;B
ME#D)1D@]``?$<&NB5Q;Z@B9:8"(6.1[4(1XN=/@J$]5J#DW8*$T8R`-<T#1*
M03*0^H*R8!(J`3(L01@W8!(H`P,&``-B@`->P`H\4&F9F0K@M`1VP1=\P>#(
M-AEN5<_BDD!/"#Z9R1080Y-V01+@TYA+A=+`@2H?`].@F:^?8QQBX&L,14'`
M$5I=H`9..%J'P07.=0=>-&]9P-6BY$"P=_#:0UW&89[;D1W6X9T-EQUTF!T0
M$W(OJ\+2I$2$NBOXMP5\;6O<@J`U(<`<(@3F3`9<('92`K(5!'M)<[7L$'A9
M8-AP#$P!E@0\L@[_@($/=/<.J('&4/,(J,%@4UHY9V:X6OH1?HD58,&0^\(6
M$,>F!6('U($7VD7#6.QT@N>.0$PQ-*`2<J$S%DZ\5A"#)H$2((,2IL!I@F@_
M@U(8*>$TE'8R?@%.PP<^10]C`J>M?4'T&`/@N..$U!)C%!C20H7S:`$<O$$U
MCM89GB&*^MK#F\,8`)NC+A="1/2<RZ5<T,7U'-OWJOFEYO%NSP]%--3UR#4=
MQN&SQV$9C(%QU4$9]D-:CP'#(J*/VS6]O5>$5D`@Y6*F"9I(<8!A](<7=N`Q
MOP:1N(6D2,H%AFVCUXL%9`#'J"<CYVS8_(!)L_38A@%U57JX`N#)A%0#_P+,
M$@@93W.AD+WI9@2[!OQ#A>G13/C9>Q'*0#0@W#KC%G"A;6!(`>H;$K2`OH62
MDTNA`P;`JC\U,EI%-;P!T9T!2BB$!<0:@:M7:QF\K(-!!R!AED^(%I.1AFA(
M;S*#F7;A4YU!&XY6&(CCPW-].<:!%Y!G*TPG[OQV/5B/!6B@!&*X!K+MG@2"
MA^]9ACVX0A:;&,0;GGF<'7*Z&-CAA'FZ^"I,]X0Z$Q4C!I;\.<?K:A8&0.!#
M!G9@%WAAM3I4I!"BTW6+4!W$!XOM85DI'*.K(T]3)'.RGK`5N&*F*%8@H'$`
MX2,!F$A6.B%A!VR[*^*C!O3C;WW:>``&SQ2E9O_@ZU%QX7P?]9FH`(-Z-E+R
M9E3\+E-6,6\Z(\%<Y556(*!6`.#&I\`7^($AX81`,!D/SC-.:-SH"JKG),VT
M6CZ!(5K<2=>3/CG2P1=B0&@C2F@P+)]:)XE)'"$24QG:Q6&Z;CW(Q7`;ES]V
MG!T.FP=C+?C\)6!:UHE51"XRH18(>HH]8&$&HLYV8#&3S05VH!L!VV`^:"*0
M2:!.TOQZRN<2Z&G]8/O`1U&`KY,.T0"$=->N>VLX"$]IH1(L(4P*I2!*@`>6
MH09X@`<JZ\_OA;;HA6@&)"$RH8+>JJPZ`,VDNKY+@9KXQ!(NH`$N@"UF",$N
M_+]@JV9\X826Q.`46'#_KE;3*<$92@6;E-&_3J,4,8"4A3$/C%X8S@'7E1[[
MC>,=A"$&L,3WV<34%"O\56?TT:.26<"=<YB=YWE<7V;&V>/S%;L^EF';SR\)
MX[U=IV<(L4<#1FO)QPL@'CW*T8)$B`\?2+B0$4-&"QDL5O"*T;!%11$E,H8X
M^$&$1Q$L6'P$`2($B(XB.H9@`0./R(\I4R*<2;.FS0$:-'C`\2@3JY^L8,VJ
MI0F2CA8N6&1,R&.9#&+#2F#\:-+FAY,?/YC<N)4$"0X>-#VBA4O5+%6EK$S9
MP"'+I$FEXI:R1`D2!`X<K)C"Q1>7+EW@P/%U]FO%P9->6R`#1^NOI6#:2IFJ
M_V)*EZF]?7&1M62)+%F^M*QL8!L#6#)AZ>ZI7LVZM>O7L&/+GDV[MNW;N&O;
MVR9LU\057D.((%D"1,:,4Z4>/^[QI%6;)1(:XS7,F+)AZG@9&[;#!8GB,)>7
M8$&#A0L>RJ6*$/[\JM;UZ]F':+'"@Z19E2RYJL5J5B8/.422PPI7@>`1">:1
MP!!#%,6PPBZ[=+?#,$DAI=YQYJDW'$D+;;0><E09:"!'[7T0@(DHAN#!(QKD
MT,$CC@#5WRRV2))##"6XX$)T")G'`@\U:`@?B37%I)*1("A$0@Z6S*(77[>8
M4@D'HVU@2BF57%G*)%58T<$%;$URRRVXW/(78-Z80O])%KL06"!"(.QB"RV6
M:$:))9>14HDN43JC65^TT*)-H+IX1HLD7WH@3#7IP)/;HY!&*NFDE-(&#SK"
M"..+#L!YY1%S(&(DGD<;E3C3>A^40,RJQAA#C#K6M6K,#C7XN)RH&1EW*WSM
MQ;=>2<.9)()7.60RBR65S**L?P-!0A!-I):`H`PR[$*1#"'PLL(.VE&WPZH0
MN3#,,#)LQP*"PFVTPPX;D023NR2=Y)RI-6$@D`<[5?+3+#/.0DL.1^7877&I
M?HJ<AD32A)5'1PX)'"3^0@*E*:J84B5<64I6"B476-'`!A=PT"1?9_[EC3-Y
M@&58@?*VH`DMNP2C"R56_*+_UV6@998SH+-,8L$&'>PBS#F.5FKTT4@G?30\
MZ:1#CC`3T??=P:+J"JI,](80G0@M#$/,..4H`X\ZXK1:CC$U[,".,L3PX`(-
M.RKWJ:@P86V3<[RV&\(*&D@B"W[*NK)L)#C@,."IS9'$%;4NK&#`#C%P.TP,
MT_$B@^73J:,'K#P08PP/V_(BC`SNU?UN5?2>B.(`'D""0R0K\@O+3[/78LE1
M!K`@PU$DG*3U1Z&2:I6!5QUTT(8)N8"!);*4`LE>JMP25Q5L4:;Q+%M2R4`#
M#%11RIBYF/D7.,Y0X@%>ACDG;P@ZT`+)+H5:0:5>DNEL*)V3=""!!!=XL$LR
MZ9"'_](&2,`"&M`UZ1!'T\2A#&%`CCXK*$$$Q:,<DG2D1"4IE5;$91UUI$,=
MRC#&.$`H@V$L8P<A=-4REL$#&:"'/"R8P:U09Y/C;>57(2"!#NX#BTQ`PEC+
MRL0CG/4LE)!*1%S9B$$B%SFH0,URO(BB'I3A@EE5QQ>^F)`,A.&"F`BK5*A*
M2<),=2(-0,)UAHM$?V0TE#.VH`4ZZ$4OA$$"A.AH/'$#U4S&*"(#'7%8N[A/
M+IRWEU3,XC+4XX`6XF(*[!T2$AQH0`,X,(E9D"D7)6,,)2BQ`2NX22N@3$@P
M>N$!6^#"$GE(F19H08E*TN(REIC$(RQ0@?U=(`,0,@8ZZO]QP%[Z\I>2JL<"
M,R6.T_3&6A1YHXY"<AR#8!!OIS(/=D0X#A&J8QPN>-4.1@BK>(#P&.J0P0I;
M)2X9[,!M"Y&656YXP1#$X(>S$`HD*E&+955"0`!JP1[UQIX:&J0$6B37NJ+8
MJG*5:SN7XP4+?,$"XOF1*JC:"KUH8J][II%?G@"*LBR1@QQ(0HZCU$%B/,>#
M8RP#*C5P6PUDD)1SP4E]5QD.PY(4@V`T*1=3HH4JRK*E*D2@`920BV2P1XGM
M;<![RO*+^``3&%:VJ2;.V=LN.-`87$`H+Y9`U".JT(%:\N\"&,"7T#*UC:(!
M\ZQH36MKF):.WO0&&+X01C"``2'_",5@%SK8@0XHLH(50+!37@EL#DF`M4_I
M;D(A+!L5C:$.[+`#5K`:H3*6T5C&R@"RZO#<V5Q@D_A@Y2`DZ`6RXNE#(.(G
M!P/!@23TB1"(EJ0C\WHIKI22%!=0AT*SZE9"H\B"ULH4C"IY;>H28@`,9*(2
M+L(!)MCHB?Q`PA*:D(118A!'24C"`]89H0FWPP[L5/:D!(,32D04'SAJXJ93
M*E/%)K&!*7P,+J6@Q?>B)#\P>0]+N,A%?DNFBU.V:;"!#6Q]6O#<8+SO?!X`
MV046O`%\W15"F2)F:M1*X0K_DFENS12$=%#7L<J5%QWF,(?K&D40@W@7,O@D
M57+(`J\I_T,[+)C.91]KC'FP0X3*Z&X)&,L+6)5C!S((8681,@*%:<5X'S#`
M+_(S"\%9(A/UE&XD8!>)U2+90^]Q3VQ),@+3&9:V25E72+BS@]Z5#B;L28EP
M364`$F`@![/`I[Z`4@IE1>(1DBA*8'NA#5O,XA$K4,8'>1#C5G4W.VIC+`]D
M(J^8)HX$!)X%Q`9IA9UN;`K4@T`6+O.]*^&B%!Y@``0B4`5:5((L2P4'8/YB
MBF#XQJ[6PJNLZXHO#W3`P>^S@E@A%(P(BT,<0[.PL(==P`B78X'`UO`N=@UA
MT47XV="&6F]]RQ'?K>0\+ECA,(ZA#%@]]FLY3LHRYN%-8]R8%__+T,XRGE,5
M,9)@%Y;``<0J`4_;=11`'9"$!A`''U1I&:IS,]U#U],[4AUFO`8'5C\G:@`#
M:"`3F!#(G']2B414HA)X7BVQ!(4,.D&B!>H(N7G4$8]R-W88["@7,:+3Z)',
M%(ZT6)$N)F&%0)G""A!(<`0V`)=4T"(5MZ`3!Q@PFD=D"7R9/!,MG)$I8`C#
M&(N*]BY^<6)KZ=I___OUKZNAC&T88QOB,"NQQTYV2=EC'-OXX#O8T0YXP*,=
M33-'LH7Q"UKO=<0=)G$=6RN5,0JG!#QPE>=BU:INUL`%WJXF"$T89&/,9%[&
MLYL'+''&8W6F/X0K7!I;<&6)JOGQ"!'_CDS1+/JZ.51Q[G(T1-/L[_8$("<>
MT!>_6%$*H&#\M!KP*Y/\U0L=\(X%0GY;R.%AC'/<V-POV,[!M=P<5"V)%N]D
M)214D0HU<0`";.&Y*:+T\UEPD@-5J,(FDYKJ5>=BZ77/>UUCX`'V6Z'#<\S4
M,Y3QC*^+@S?"^'6CRL[__C\*'N[@=F['#@)8@/#`#NO`#DV30.+P#-!&5[VA
M+7C#,,\1'R%Q'E!A#"LD`S>F32!432LP#"]V':`G7KZ#*C&0"3D`,947,7F&
M7"W">;Z%0Y_G'BQ3-QX"+*:3+C"%<%QA)';#;B1@`"V`6C(B(\WU"*S`(BTB
M";503[O@`DCA_Q4[]BKCTEB-%0_$L`(:>%GL`GH[N![MTSII00EF00KAEP55
MP``80`FSD`JX8$B2M@'8MP&/4$F6I`OZ-3ZKIAG!P`M_^(?"$'_"\`SB@`[E
MH'7B4`V9TD#)T'50MRC'YG^46(FV(4!NMW;P4'+WX'8+^(GK\$&?*(I-8PR]
MM3#Q\1P/E1$7Z$*J8@S'<`R7Q5B9Q5C*H`P-!7K&TT\I$0.58!^2%@G+`@F2
M<%PZ441'%BPUV&BM57HKUF]"4A46]'G-UV^1-T8(X14-YW#">(1K='$8MX+/
M%64ZX`(FL",Y='BO`HO8,0S>M$UG8XI0!5NC5Q(Y0`O+8PGBAQ8W9_\%&R-)
M4R!?07<+DB8:F/8(EF1)>Z@+VA`,SJ`-9:(-YK"`AR@.YS`.Z7!L#!AA<Y1W
M9*5`;F>)(CF2LB&`]G`/]``/$;8+P-`+@.ATOB8.Y-`T<(>+:I85[3$"?B0W
MH*(C2<$#W^(JMH@M+P4GJ),N'Q`#[M,D/3$4L^!1QP4).<%:1B0?)JAEJT@J
M7J:5J--RHY<N6!9;_F0`.M!12@@4L^,)^'%QCO`(=T9/LI`+FK`+Q\%W(+$0
M+$4NZK`,U@$/3F%DY(6#]Y@#62)^U=>/IC`)DD1501>'\L5>%S`)R:(LY]<9
M#.D,SA`,>Z$-<)<.YT`.X_!KQF0M^+)@"R;_``6P8![P"\9@#NI`DK`9F[(Q
M#_"0;+2&=;^&#EJG84\W;1TA%6L&<,D1/,"#'%28$&/$:&&Y$1Y@:L9B'_4D
M:1`C1!V0`WOW'L'2E3:(BG5S9+^#9B5A05CA:.F"DQKT'".0$SCP(K7'1K]H
M=!=G=+.0"[.P6DJ!'#,X%5016.IT-T;D1TD"";3P"W-!!93P::9`!90Q"J,!
M`9=!D&."/6Q!"1$:=):P"W[!5*R$"PTI-(KX;,MV`0`PH@!P`1UP5\(`#P(D
MFRS:HJ_!-'.7*9]X#LK6FS*1%<SX4NY"-U0S*AHR/.*U(1F40S_4)'%FI+4@
M"<(H1!U%`D5F1+\"_Z0#AS!U(R3#<95B="0JP1YB>61#V"*H971K!!3-E2]W
M6`FP4$\B-37X63`'$RH6!*3',W`D(`ETHBS[6'U6D`62P18,(":6!*'L50&6
M0)"69`F3EZ&JA@N3P*%U)Z-:5PVCN0OO(Z,JZJ*8FJFQX2@&R%9-HPXN,($4
MV(.@="'IH9\&LV+B"9@LHT0Z@"P0<PN5H`G1J:29D`F&HP%F!J7`HHIH1J5;
MV4?NP1%:^4>A9Q.!!7L"H49'J"_T)A!BBA^Z^G<R)!5P`IQ70X$5>$%9L0*O
M:@DUYWV743%6H`5JL@&29*Z!2I!%Y:`)*6E*>2:!H0N=H0WHT#0%2(#Q(/^`
M\:"I_OJOD,(.+A!YB9.CJ/BF&I(><A.E\]AROO,!19@L$,,*DH"DEA`)I5`4
M'J"K<+)BQSJ/X3$BHO=WJ&HD0?J#Y1EYH3037J$!+9`3`3)[_%(*1H<E/!$C
M_?$(&%`<5H.?W_FF5#%10CH?\#8+'J`LDT`)%&,*:G@9&[`]-3<FA@I)5:`L
MAMH"EI!T_54*VO`.`/NU8$LI\1"J*S$2XD43/+*3I[JV0O(FV_EX(](1K9,L
MPI@+D*`)RQ)=E9`)`F*=_*8XV*AZ'P)1P&,Z_W9PQ2IZXPE5D.9P.2!OL_<3
M0O0(.)`(8IJSO;,U&%&MC):P=",\O>);J1)]=JO_+)#`#*F@"JI@"5-P&:)!
M)=L7J*4`,AR0+`1I"<N#27Q8**7@#?00ML`;O+81#Z230SLR4R8H+PK+HW-#
M-;S2L`6R(>MQC\IR<;<0"<E23WRK+(^PL6;V4('[)B%;K`&'H_^VI=:80:`T
M1B30(F#*K/N"<6X9"3[!"H[@`:I3`ALQ*@AAJLR1BO0BO2$@H/,Y3[BP2:6`
M"Y?1NJ8P!1A`=+%[N^A*21&J;XW!7UNK#2<IO!S<P:PQMDH$$=8ZCZVEMI^K
ML`O[>?,R+X7U`9!0"[?@"J.5"7CK+VN)>[N*$K`5OLX(K.5KO@];/$/2;]I:
M$R\+>[+W$\Z3`8^K+V4*_RW`,P,A`6G?@1'&D1Q!RV[#2A(D\,*Y(`N0("9X
MLK0W)QE9$$G-N:Z5@*X-@(=/J0%DH6K@X`V+:@K>X+4>G,?"2[Q'QBTRH+]G
MRW>_`[3^^[_+5X+3^%MP)@NL8`D(>2R6=RSW$0F0X`%>P7?$P\/A@1$]+'`7
MU&@_6)76UGF#582.B[,4][@!P@H8IP$#@+;#P8H[0)HQ4,6C@I,E<AB*`PFY
MT,M6@(>64#&7H05X\@CHN@&%&J&F@!<,@)`$>2.0H0T,J9G]-0G>L,%ZG,U?
MR\=[<UN-XTPY!"U7#"H\F:W:B:4L\P$:8$FR0&^360NW6@OT=EP"T@(G<;Q9
M6O\B\&&EI4><*FR"*7M$X<FR5`RF&H"08XI<J!6?&J`ZCP<>)>`+@W)<.5`<
MGJL>YQFZ,J4#LQ"7CQ"N>4(*:O(\E%`%5.*&$5H*B?0+M.`O%VH*VJ`-@8&9
M?C$)&JS-./VOQ(L8)>00+&40*R`2*'$A6#R<N')$@;QER),DF9`+K*""+ZPL
MF=`DIO6+;@(5Y[*X-43$/DS42&V#$47$[V&5>P1I`2(@"+TOA-,!PC@).=!P
M=92_J5(",1`.X.!GF2`)$80KP1/`Q),2<-S+EL`!;OASB0E+%0-)$I`%EE0+
MFD%Y!B:@FB!:P<`-M*!JWE`GC'K3.=W9+LK'_;M2U++_`HT#'$ED,+>\O#]*
MJD$Z$T6V`I)P"[F@@A[0U`0IC,NB++W`6D%&(=X1OD9DI54Z$O'"C`,]Q#'Q
M><;3OAY5%!V0++9G./-T9P#"L8CC3C+-#>=5"9)`6*:JGRM;0ZUU01"+7GAA
M20ILKJI`"T%G"G1A"H%")_#V7,^%J)1J"=JP&/W%#&1A!9SMV0`.FSN=C3G"
M$"50$"00U#XR-6_3H\,9*C04R*'G+B3P3O3I0TSRA*;6TN<%71]W$$_1*LM`
M(=)"JN2+T86KGQF-%0M3GC)5W!DTA$6(O8\;N9*V(A>G`6'E`1A0$QGA,OF-
M#%EU1K9\RT$(LD9)UTT2)1Y`_P5[DMY[80K.\$J2L`LV5Q1G)`G:D.45RQF#
M$AC>P-*X4`7/\+L!?N8CR0/7C2`(8A@L@!3KXD(R4`.U$BHH#")O6X(D`D><
MH0E^[N=]3@OG=2R5?"CV_`'9=(NO`BM_S'(V.-0XN,G@&:?``KZ_$B\V"&DM
M,GEHS2^SU[U[BP-O9C@#X-`?X*W0)4=RY"PX4LY][9^EHQ7>&@PO$RAT@2?:
MH";P_3X%II1T<EX0\C[25=_O`QE_,:#PO0&_@.;,;HG&<)T8/1Z)$0,NT!TE
MU#GC`B2'1P-\?1R83L+B1;1\=J%VZCZ]$`RT?EYS:6#GI4\@4$4A%.*PLBIU
M]!T>4O^R57HA&9V\KQ5&Q6V#&_%FDD!OA;,O^&$X][2Q'K6Q-+$"HE7E<43K
MMQJ%%,0<^]YHXBD"+N`+?.9JO1`H(/7Q2JL-,0,)R+#EMNYQG"&@E-?ET"7-
MNA#F>V$%PM#L-M]_H'H\B:,U2J0[Y#(,EC-X0NDYYZ%2.K(#P+FJ[2%B)(\,
MO6#E)M^0>%NQ=@H)H[0RY9)9Q%!B*$0,"K$J4YRJR/W#PH'Q],B5\&)!!M&R
M/Z30$S<+C@`)598#+=(!AI,#`7`BD+8+*[@+?&8+NJ`LR+`=YU$#,U`>.F*R
M6W:V[\;WVG#NNZ`-CQ$,,)/KE(#ROX`,E*"9M,!GM!`,>;;_;,\5W[9@"ZK&
MD+\`WY2P#=A\\ZXO;,8PL%,1565=[27D-5`Q(7'N*M7A.6!_I>"^1S'`\;4.
M;ZZV0WQF.Y;0"T5A8#*83=,Q'<0@9,#Q-:YR8YWS0AE!6#FDG_J;,"VGP^_B
M+B$@A2^;`WA+;\6X1FO9R@OO49)@`#,Q`+YG7<C`#99]<9J011G8*L1P#`!!
MK(2($!\,'D3X`02($#JV[=)&"QFD8,%V[7(&T12EC-HD!8-$RY(I2Y8@[8*4
MHV(O4[-FW<J%2]=,;91HF1)V3^=.GCU]_@0:5.A0HD6-'D6:5.E2IDV/PC.V
M(H2($@9!)`Q1@D6(835DR.A:PZL,_V/&AA$#.XS'P(4)W1HDH:.7)EN]+&DR
M&0Q9+UJV\%;,84E'BX(A7`PSMLP7+[-G71`;MH*8.F7+XBVK0:SQ#ADN2H`8
M*$*T"(6E#9(&,3IU:M5P26B0E,GEHTJS6,W*E"E2[4<Y*N'(`2G2(P,&2)!H
MT4*')$W<M'F,1)$76<A=S]8(??7MP:LD?.VRI:U7,%K!>O72MHL6+DO.("&C
M)&F7I?*2D`761(L6)0]6*M&:!1>9P`'GEU\J>L<I!1=DL$$''X0PPJ*@:H$$
MT=XBB"#/2N"0!A=8<&&&'7B0@8<:>%"KA*FX,TV[#PJ*BR^+M`GPO;WNP@LE
M2$Q:@;072_]`D1?'5E"&!V,@,V8<)=7Y2AUUC(EG'B=EX'"T$`K2[BHM16-M
M-"]%0&X%2%QR*3?;*GEDN$S0A"03#8*K)#KC-(CA34ELT04<6T3*81?.4"RQ
MAF'4XG([%C_P#A)M*J)%E_)&VB6813/:13Z41+($&?UN<8F2#1K@`!*2(/F%
M$F\,#*8="5=EM5577X5U**ABD*J@A+[D,%==2W"A5UYEV&&KM@Q%2"YM3J)/
M)%H6C50;O.Z:Q9(8"JJ20Q=V*&N8(C5+QQAXGHQGF!W486>'99:93`8O0TCM
M4"T5^I)+$;1;(0?99G'%I=MF>00'VBJI1!)+*GESMTQRP$"#%G+_T"$'NO*<
M";<<.`2QAA"]&B8[8@]*%)F+@ME34EIZF4\;2X))5C_]3#$EEUM>QJ62*D!E
MP`,/7K`B#P.%22=6GW\&.FBA@;)''!TP(,'6@Z;R<M>!G-85M81<1"@N237!
M6F65-=5E37UGR:&@SM@"@83'SCW,F">[-<8=LYQ$S!ASJ:1*M,*RM.H#U>(E
M:"$2<IBE%-OTO6TX2.*T9+=(<L"A-H(-T``V2"29929P9LH7$A*@UHJMC:WR
MCCQ-YG+TN64MP44D4]:CY19<;KF)QED`O*641SC@8`,/.+!B%V%^J0:>H8<G
MOGCC%TQ'&`]BJ+`@'T=[.M>Z17.ZT,\7_PJA7EIJP3>3DK@'V&7"9_&@H!V4
M.89*A;I+V@5EH!K'&&7486$8=L(U)OUEU`VMM7?SUAO?&/*!$9"@32Z1Q;YP
MTR^!=4`2AWO$`RN1B4=HP``8.!Q]:I&+/%VN%JR0Q&>B)[W1;.Q=)(C!+G2Q
M)]C1)W!9(,7+)E$*6J2"4V1Z1.MT\1).06(#-?,`,(PA#'0<SXA'1&(2=0(/
M<>R"%[R@U96FDA6J2,^*46O-Y_1FD!54XA:UF<4D+($;[\U"%O>ZC0=&\(%A
ME`-N+B`!U0RS@QV<Q1CL4)N3E%$6&1##,]2S7HNN(B\!(DI,^U+@+!;'N-T`
M+#>1:*0&/)`#>__59H.6`T<NN">)S57/2EIT40MF48M*<(\2]!F%)28QBUS0
M$':N>QDM_N.2&T:K"A?@@._,(3PE]M*7OX35.\0Q1&$P;P7'`634JE3%95Y(
MBP:YTI@L\0B73&Y@A+O-;<+&QCV6!2V>*0PTJ>("%,GO+,O@HQ^;R26JY:U+
M7FK7!UI@`,#5)A?9C%,.)AF)-4UP%@#[S20[$`F7;)"#';SG+"#Q&>B1D"`F
M-`VB*+>C+UJ!$A<-'"U-@0L>PHR5`+*=!3K0@5T8`QV\!&9*5;K2!<%C'6P3
MQ@Z8QX)=3:^F)7SFT@SP3P]DHA:+2\F]7)*O3'C`('%C##&J\Q45S8O_(=0#
M$:_HR(/'_!&>4RN-4[^4FA`<IP6'J\08R10M#RR.GUX[$R0>T0'@-*Z@FL0D
MUBJQBTYZTD?7*\UK1.*!ET""`U2P`BE*(3B8I8*C`/KG)&Y@`0ED@*3"&`<\
M[,%2RE;6LD6A!SK$(8YQE$,84*05"VA*%=`PLW]WW8[2AN4!37C`BPIM6)MT
M,SBPF4^IQ.BF_++5&8(PC7HC[-ST5/._O/%M7IL[CN-JDZ_":<!?CLL-*RA(
M2<9I@)JLR%<N#JJG!THB!YO[;;7L!DK3D$`2M-"`)7)ABO[PKA26H(1+4E>*
M2DRB`XP%P`4NT"=A"`.EEP5P@`$,CW2DXQG]_Q6'.801#!W$P,$.[I5HHZ:T
MC<W+1R3PP.1&J0GO/M`D_F+L``PB@Z0J0QGC2,>3DF06$BSC&"3:%6NB]R4*
M_X\T[&*G=DBP`@V<2:QDR@1P:#.^3+`U!QEP;B18P0J8P,1RW`A&AQ\<X1GH
M2HK$6DB6H6E`'4`B%]'*0QXX<$H/5.$1%9"`!!#``/UZX"+]%88X>B9@.M=Y
MI?9@1SK$(0Q@D`S."[Y(H)\X'0>W8`6'/O1Q%+UH1A]G!38;&"12XH&17D`"
M^KV``11B-LV@6!T$WJ,ZSI$Q/"9&!B\>!I4V=%,M1_0@-WZ1A5.S@B[+`A9A
M_=H_%UD)5M0FFXN,'/\./+%D5FB2@P2RA'<#$V@G.A&TR4'T,8_9:&KSV`I6
M*`DE8F`%FW4`T_K-P"29W=]JQ-G.YT:W+YGXYOXRN]F!)IE%>,'L>3_QW;O0
M`;[=S>R3["(&-@.XS5+8`H20DQ?L<.,X]E@.=@R#!>H0TI.>Q`YUU&`9)!H4
M#V@`(@FKB,+0?!%KV)4:%$JB$@G<$6T5J4\<R(;82ZX$)#20`1PHV38P8>63
M;3$P2\W[(L#XQ2Z`X>YZWUL'1\^W#GSN\XM(>MO=!OA)>!$,7L!YL_V=<[JU
MOO7BP0/!!1:',LK=7UX,?=].[,6"_[QVMJ_=W9-T,[ME0`+0E8`$2BV+.B;_
MPR09Q*,L[%"XB?6.QV5(_"Q*12<OE"HLA-S8>:1!82_"*@M%4HY["HT$#CQ@
M\K&6"0?./5ROE\S*[4:L$L'H[R^8[F[5H[[M<";FVGT!#)_KP`H.CCLP_KP-
M8VQ#[,F0LSRX/GSB`\WKQD@'/.#QCG2\0QWM2`<YKMYN9@?<^M?'?MP#_>=D
M#%$&;6DH"\@"<;4U"3'WFY^3[CB_SC3\&/(CO_KICA7LX3@$,3#Y)%S1ZQ^C
M*?.^P83;P(19",!*8!S&R03ZN@WM*KT=J@1D*#"P@[/O"+0\R+X+M#XKT($\
MN`A?@+UD$`9EV(:KJP;@(X=X*+X45,%763[E<\$7_W1!=G`'>("^<XA`Z1,'
MWQLFWDN&<GN&WMNL(!3"JQNB<MNS':@*@P@-:#(,8/$CQ""+99@'M?&[87`2
M8F`!'H@']7N2%BB+'6`'%P"Y+2(D,(F!DAB36>`\B:$N!W(YVHH$),.!#E@3
M3QB<2[H<7?BR6=@&&%2^=OC#""PP=#"'S=+!$/S!`^L]8PC"<A#":M@&./O!
M9$A$8P"^3UO!3-1$"8F'>E"^Y(,'>KB'0!3$4C1%042'5$0'&P2[88*S>TL[
M89`!6ZF;,7P1$F`!$C`7;\(C)<D[O:N?+82*+=2,5`O#%VD\>$J-%I`$2<``
MW#B<,IDTX"`H`LRF6="\'/\8#H"Y#5=@0,O10^[1AG40'LDBL%,T175`17(@
MAW)`AW0PAW1XQ^D3!@H,-`]$L)/:Q'WD1PB1!Q>\AWI(GE\0AEVP1SA+!F40
MAW)`Q7(H1'&`Q';CMF^SM#;S'678@?G3FX'XN$$R&QGP"K/8HQ/3+;(8A\FX
M(SH:AR>B'ZQ8'UGKJF;LL8#QJ6@1#DC2@&C,)NEB'!RH.=IXN4M"*%B8!6U0
MOB7:LW:;MX*$O<UZ1[!K17K<!9O)`(JTR#@[RG[4RJULD.7;,Y]SLQ1"L,T"
M0::,LQS\,W_3+P#(KZN4,^4;!J7QG+>0HBKJE:_0C#J2.*7:HW@@,77P!731
M2*O_8(W5F)<5F"8-^*D#LLG<D#G?N,;;Z`!(\!>U(C:8J(69<(Y,VC]NF*PE
M4H<]"S1(L!G?@<0@;+>Q3,IV\X`+8,NVO``WPTJNI,W:9)#ET[/^<KW-<L<A
MVKX$0\M7'+>W_*][$(B#>!IDQ!"FV16:*H$Z(H9R,H9[4(=CN)^6Q)``LC`2
MB#G`>2`R09/:Z(`WX;6=5*1(Z(!_(38RL04H&P\`885M^$R>4+YS<,7^4D@;
M3,K?I$?J8S=QR$K;%-`!A1`_!$47[,2DB$NK^`Q#R9!DJA;.T8H/D8&-"[GB
M<IX5$0W$G";,0RQ+\`TUS`'K^IK1R[R6>SDUE(1C0S;9_P`'I)@LX0M%/QQ%
M`K71&[VLC-F2@2`6WWH:X0JO97(+XM*;PC@N#-"$L+J%Z*C)F*N-_[NN%,V\
M1RB%]:P$UL(D1W$);<#1+O523:R'C#D-G'*+*VDH*ZH;+")3A-"2`7HH@EB!
M7<@$D_NR'^,PV5B<2<J$G21*S8M25BB%#,/#R[&%/0V'+T741.4Z8I@7[7RH
MMWBJ,_W1-%VGCVL\9%R-AFB3-(&%.04RDYLN)+.$T5LR"JHYVUBR2-``3="N
M#EJA+5746)55`1/3+[%%)I0Q$@J-FEK"=BJ-JV`7+'F1[TRV7`B8@E+#V@!1
M(=O)7A.R/074$34H`IF)/=R&6?_%UFQ5J>/DE2H9%A9Y)].JHGE14TLM4X:P
M%5E:(&,]+S*1!(+Z#4DJSUM(54FBTE+-@#'9KLOY,E9X46T%V(`U(C'%19H:
M.5?#%5T-4N%23KJ$M>YPB2_#`9>8I3)Q'$K2`(*ZS$?P`.>"UDK``$FH!3QQ
MU2_#A'\5V)15V9\1B*YR@;$15G?J$N":U)I:$;R"D5JXA<RA6`"A#T\-,INA
MIEF`A52EKO($6?7@!CQY#EW@GDQ`V965VJF-D.-$H4&9.TN=BG>J668"TH8M
MT]YBEQ<Q(\K#`4NX/%JH1K`R0,9!59CS`,T#(P,,B64!!VZP!%O(A36)6JKU
MV[]EBI;_+8&TZ`R#S0H5@9>%%2_3ZA^\0@B1)<KH(!-:,!-+D`TTR8$.(-I]
M2;9FA(15$@E)B`A;(!!D0(:]K82^!=S595VA$(CN^`H9B`$9:(%</"9'_:UQ
MW55=#2>((B`0&!/*D[DQ<H5:@):QFAS*<0F1T`1)>R!:(,W@T`]M(!"_X!Y+
M4-W6U=[M-8;/F`KQDUU#JY!<M#OAH@&O]5HL,E<V)<P7:1/*DX0,8R572%(R
M&2,.4UZ3D+0=`0G]18F(X(8\T09DT+5#W=X#/N#N%:<)%2TQ7`$0B5T0.0SQ
MVMUF&ELL.XT0:($SU(\D%9C\T(_:@-X=$8R0\)Z2"([]S3`T_Q29TA79F.L&
M!);AUAV'K8@UL<W%[.D,D"R101D&%ZB!&7!.AA+7WC*A*VF!2!$)N[`%C_D(
M\J`/DWC>E"N)YMV1':&%X#BEC]`&/`$'9!BCF%N'&2;CO_5+6PF-*\G%'7M9
M/>B,5$,,'U8JC8NJ7#%85X/4["&9D_F8NU"4BO"+F$/#8_'9,3()30")8+""
M-M&$V:$%`@&'`8;&!"GC2I;:<2"XC42M%\D>%Q`2'A"2LOA"8H!.R$`7*/S6
M[<BR%>@%';`$DSF97KB/6*Z%9PF&YBT)92V)8-"GR3G#SIN)/$$96<H)2S;F
ME/4[J6@-U0(3&1"_ZA"7J4H;)-D!I?]R@=4P(89((?*@A8_X"+FHB%H(7921
M-"A.-DD;F)(P"5\KMNUB#D2FY&.69VVU!UX8K4VVBKJ)*M'B`:JBJD'AC"<4
MB$;UU5L1@20V9P`Q#]/E"UIHWEZ0-)2(8G4>JTC`@/0L!>_1!&W@!FX8CV`H
MHGD6Z6R=E5I9'^YH*,:U.U[Q9W)*M0LI:`#2X$CQ&/*8G9"PB`^VA%\8B9*0
MC9(8'_JR&4KJC>`P7=\)Z9%6:EDMZ2OYUKJD5`G-E5YI-4.9HA:P"TWHLNF=
M7F&(",K-#Y6+%FR2F`R@I$DZ#WS,NJ5F:T5-AZD\)EO)LEP=(=*"&J?*9B64
M`?5XU5PXWFC_V1XT6L]_&M6W7;E)HB1\W`84;.O&5E1W*$@=D(%:&;F9C5";
M0E-\'E).[JH?@X5D0RR"HCQ?H]?1`QA4+6W=P(%P2SLY<^S75E1Y\*QZ'(SC
MZ*KTI>";PFM#^9^%X"L*JB;+=:&7&)R7:]9]<01&L(!PVP4YFP?8ANY$G0?H
M&Z8G,K3C4*8?!:Y/PF`MZ6RP&=5,<%Y?(UI]H=?B[C5&2`3&Z@`W2X;DB^[X
M5E0"(\2OI)5C*M\T-:TN@2@Y8BW2S!Q*BHU_PI?!_J?U1K/\\@`/+$[Y=O`N
M)3`AS,T&8QY#>V!/BNF-"8$<B%]\4:B4@(0DI5(T>03&0H`3QR5(_["ZM7[P
M%L?1"&R[0(N!!ML!R>Z,1%,T*;H29-3Q*TF:*\&`CJV-YE4VCNV`-*O("V!N
M=L,Z%W=R+V6B@A0Z9NL%8+"(@NR%HO.W!^-RV64>6JGPY-C@Y/@W%:9*;].`
M]A[J72"9JL//V7SR.+=1K_,=Z8M$/CN[*_>=8+#R>IS`>O3`JM.]M4L[L[L(
M'0BX?H.]9Q!!8:#$<FAP.9=TKO0ZGDFQ".S/"@RX%+H(-W\]/I/RB[B^[>NO
M2<Q!98@S1F3Q26=UKK2'`O/#%WP^=<1T5`]UTL3`/NETJXNS7B^WWA/!L=LL
MR6KU8A_0%WP'%[0'/WPIZ!-$5AQ$/=,S<9W0K'&`]JC\]!"D]E4W]FZGS1>L
MAR62OOXR!D;O0>#C373DK(<4SJD,."6739Y)=F^G]QNUAWDH1^KK$X9AMQX4
M0M7TO5=LS==\S=C4`:R,]'I7^&//S:$K36`@!TRG/F`0!QQ,RX%W2_A>^(V?
M59<R17I4=UCG^)$G^9(W^9-'^917^95G^99W^9>'^9B7^9FG^9JW^9O'^9R7
%](```#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>fs1nov09img2_celsius.gif
<TEXT>
begin 644 fs1nov09img2_celsius.gif
M1TE&.#EA_P'S`/<```````$!`0("`@0$!`8&!@@("`H*"@P,#`X.#A`0$!(2
M$A04%!86%A@8&!H:&AP<'!X>'B`@("(B(B0D)"8F)B@H*"HJ*BPL+"TM+2XN
M+C`P,#(R,C0T-#8V-C@X.#HZ.CP\/#X^/D!`0$)"0D1$1$9&1DA(2$I*2DQ,
M3$Y.3E!04%)24E145%965E=75UA86%I:6EQ<7%Y>7E]?7V!@8&)B8F1D9&9F
M9F=G9VAH:&IJ:FQL;&YN;G!P<')R<G1T='9V=GAX>'IZ>GQ\?'U]?7Y^?D^!
MO5^"K5&"O5&"OE:%O5>&OUJ'O%B'OUN(O5R(OF&#JV"#KF&$KF:(L&V,LFF.
MNVN0O6R1OG&4OG65O7>8OW^9N5J)P5Z+P&",P6./Q&20Q7*7Q'.8Q76:QW.;
MRW2<RWB;Q7Z?QGRASH"`@(&!@8*"@H.#@X2$A(:&AHB(B(J*BHR,C(V-C8Z.
MCI"0D)*2DI.3DY24E):6EIB8F)J:FIN;FYR<G)Z>GI^?GX2=NX6>NXJAO(NB
MO8NBOH^CO*"@H*&AH:*BHJ2DI*:FIJBHJ*FIJ:JJJJNKJZRLK*VMK:ZNKJ2O
MO*BOMJZTO+"PL+*RLK.SL[2TM+:VMKBXN+JZNKR\O+Z^OK^_OX&AR(VDP(.F
MT(6GT8RMU(ZNU)*GP)FPRY^SS)RSSY*QUI.RUYBUV)FVV:"PPZ*RQJ>UQ:BT
MP:ZVP:BWR:FXR:*WT*2^W;.ZP:C!WKG$T;_(TK[)UJW$X+;+Y+?,Y+_1Y\#`
MP,'!P<+"PL3$Q,;&QLC(R,K*RLS,S,[.SL#(T<#(TL;,U,S1ULO2V=#0T-'1
MT=+2TM34U-;6UM'7W]C8V-K:VMS<W-[>WL?7ZM#=[=#>[M7A[]?B\-CC\-KD
M\>#@X.'AX>+BXN/CX^3DY.7EY>;FYNCHZ.KJZNSL[.WM[>[N[N#I\^'J].3L
M]>?N]NGO]NOQ^/#P\/+R\O/S\_3T]/7U]?;V]O#T^?3W^_CX^/KZ^OO[^_K[
M_/S\_/[^_O___P```````"'Y!`$``/\`+`````#_`?,```C_`/L)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/#O^!'$FRI,F3*%.J7,FRI4N(
M(E_*G$FSILV;.'/J#"E1CXMX.Q=V<_'(HQ\7YX+>_.:B44$[+O`IG4JU:LF8
M!#EAL-0O'(8X!6\`2)JP&89"`RMAP.`+HXRU&!1%9`:`S<,A&.0)3`.W34$>
M`,(1I(=!2,),&#`-U(,!&D*^[QKFZ-"/$H9.!5.HF/C!AD`:(?HM6CO,&%S*
M`^_!Q5#-&8`B/S!0PU`'!H![$FV,LXPA6#]G:]M"6[M)(&(,TP:*0X%AA\`7
M&'(,[-R/7`L,-/JY@5L$CF^KX,,S_\0ZD!*`0_VJ`?@Q3IJT;_W&/0LF(`:Z
M?M.DC1-(31$`.`(5(T`;Y8BPAP`\P%.->^-\4X$$@K5'C4`2#@1"`_OLP\\W
MT]`C#3K?,,B?>S@(H`D]SY23GC3B]"..>Q&Z!TX_-```CT`V`%!.,`T4,4]^
MY,AWCWO2R#,/`#*4(\T]0TIS8S^,`""`,Y4%`$`Q1$8&9(Y*DM./-])40XX,
M`GS7CPD&]&,(`)50XYXY_51@`3Q.5E--/^:XQT]""8P@4`@+_"(`'>2<$`P`
M<>P30@;[]7,/`"_LH\(`]Z38`@#/`"!$.,_P$X][].!#)#W]S./>/`/Q``$U
M*YC3@P#0"/\@PP^P"@!#$`)\"$0"`%`IT`^=2!-`$#0$X$P`/AA#@@`D]*/&
M)>($H,,.@67HQ@'PB:?MM@*1)Y!YZ*GW0XTD9-",6"0`(`$FP#`00@G4!,.`
M"/\%"$`,D#PS`@`6",.#"AV(\,(!![@A30@B-!#,-".(X)E`("0`"234B*``
M,`#00<(`(8PP#8\JJ$`!`"?0Q<8P#Y#@`30N`$!"!\_0H4()&SA3XY,Y)F4'
M`)TPL$`>@&4*P01#E(,D$`!((\<#*@@C4)0`S`$/TE>ZH,(%.Z!S``-]Y)CI
M#L980`($.3P```L#L;&`FA80HX,*'+P@CIQ1CD:!.#!PD`!7"/7_^6>@`-0`
M"3V'RM&//`#,(-"C($#200FN%7%IID+8=HX0%$#P!C4`3!"!&_"D(8$*SPA4
MS0G%">0#IHDCG2D,0B0MS`F`^3H0YT#,P+H/=PB#0+/]_.+'S]3R`8DQ_93`
M![?,A^=M9>>EMUZ-F?(@5J8Z]"."`3EJC(`P];J8`@``^$#7&@*Q\0(`>%1`
M@78`Y##`"7``@`-N$!\PQ!##6(RQ]^"+`YH$$@0`3,-D*PA`IHK0LDP%H1]\
M6-VX;(2CL?1C9ST#03^"%KC594H#(6C!.`"0`6`,)$HJ8,`S*$"O8J"##24`
MP#`.4()^Y(@'$;!$#@``F!C4```M&L@$_]BP@C?T8Q]L8`$`'D$W`-@-$F=K
M@`0&T@<V)&(@?NL'H*IA`O(5H7"'2]SB`'"!(5"@!Y&;G*9LDZG<[<YK`/!`
M,0:"!P"DSA@?>$$X6L<ZV`$`&CK(0Q$`X(LVL`$S_?C!!#*ANTSY0"`)`!X?
M>A`!3%"+!T.`1/(.T+Q.4N5YX)+>!*MW/0!D3P0'2$0BI$&"[X4O/8G8P`#.
MET@'`"81&7B?&P#0AD3X`AHAL)^%&C`0_V6LE0$<8#\*>,"Z)'"!#01`$.Z@
M@/I-$&<6Q"`#-,C!&GB0?`"@Q#YVF0%B/`T`BL#`"530ABNM0`/KFV$-<P0`
M/^TP#XD@!F""*/\0")#/B*K2P1*;^$13)J(2`\E$(A#9CRP""C^)N$`"P(@X
MQ3D*`##HAPJF]!HU5HYU;G1DCL81.PXXIA]U+(XT.A"#<<2#CZ^+W3,.D`(,
M```$<$A$,Y;9@%_THY'E@R3P^F&T'%"K49OTI%)W`LKHB8MZ/"SE*14P$&2&
M[QD^B$<*9@D`],FI$0#`I2ZO-)!O8.`!PRSFQ8[I2@&F:9D&1*`"7Q/-(,2`
M==>LX#F&X0`AQ&.;&V2=-UF'`AI$X!OTV&51H(1.:4B@&NTL1@%04#]YVA``
MD"C8#KT46'[VHQ@`0(&7)*`!1`S4`G7#``6@B(B%.'0!Q0B"/$@P40#_&*X$
M%O#&&#.ZT32R[J-M!*H/<H2.>""M+2BU(SPFH`(5O70&KL-H[*#!#&;LT!&D
M6F8!=OK3W0E5'D'(!#GB=]2!E("32TVO39ZWCSO(J0(UV$<0)C"-";1A"!-`
M!S`HD(A\>,`"%CA$/D!0@0DLKQ_TN(,%*#`-?E""`IK`!P4*?(E\5&`'^_"!
MG'+0AP7?YSD>&(A_"UP(&FC`&`;.1P@L$(1]W"`#T)C`'?)1@@KH8!\\H.\$
MY+"/%!3X#4"8@%[Z(80)6*`"1=A'/SSP@GZP0<=!<(..?P`'^AZY#DKN!R8F
M<(DSH70"SZC&A"?0#`W4@,@Z5L,^8`#@-.Q#_P:H$0@])@`$@<QCS)DHP0GV
M00?WE:"]<JHA0L1!`0!3@!SRD,."PX%B.64@'ZF90*$I((WZUB'']9V##R9P
M#TU0@`+%$,<$W%!D:ASY$'LZH@X,<0Y)`W@<Q?BT)OC1C$]C(M5UH.]`-@U@
M'JN@`C38!Q$LX&HAG,`"D5J#D2U0A'*`8$+JC;9,GB?M:EN[)PM`ZDMZX`$5
M7?O;)J$VN,=-[H'PX4DRN80TRLUNCHB[W?".M[SGK91WT_O>^,ZWOC]B[WW[
M^]\`#WA!^BWP@AO\X.4F.,(7SO"&,T_A#H^XQ"=^$XA3_.(8SSA)+*[QCGO\
MXQ'A.,A'3O*2B[SD*/]/^<5/KO*6N_S@+'^YS&>>[YC3_.8X3WC.=\YS?9/G
M$',(NM"'3O2B&_WH2$^ZTI?.]*8[_>E0/SKR'H*6GEO=)>3)`#BWSO6N>_WK
M8`^[V,=.]K*;_>QH%SL=(&*!J[M])5E/N]SG3O>ZV_WN95_[0]K^]KZ'FR!:
MQ[O@!T_XPN-=[P[AN]\7O@]OO^0=^)-(W`U/^<I;_O*(;XCB%\*-:WC^&O80
MR#=FA`]S%D0:<%)(/'SU#DUH`MH508?K3Q21:FB;(4X+D.M+1Y!I.%X@_,C]
M038Q]7YPHO@%N<<<%V*,[/J^(,)WB#=FI/Q[,$,3F`F'ZSE!D&#L'A].(\?_
MA,(/>X=40P3X<(8F5'2/9FB"^_=0?^KH08S4"40>FB`&J=ZQ"4TD9Q[$)Q#$
MX'KK-H":`$B7D&HA!WA<=U<NTP"7QW4EP`#@1`(0N'4&L`*7YX`6:'8$<"E@
M]P`T$`,'0'</0"];EWD,L7D*409&\()&H`T"40=X0%2A41"0``WX(!<(X0PM
M(!!N4`,G8!B)D&4$80R\IQ#!8`$\P`,?QA"(L">9L'R)-Q`C8`,LX`'(1PE)
M*!#[@`$)00`D$!GD8``F@!#D<(,&@1X"@0)JT`_00`*:1!`6H(`-00=Y4!TB
M``PWH`-HI0<AP`,+P(/],`$\D`,XT`QNT`^*\(9U_\@,70811,`&PI`#-%!G
MP="'#M`/PM"'#"`0E6`#5#40<4`#-M!E08@"#T0'+'`"`C$'_\(#_0`"-\`#
MC>`'"3(1DP=.ET`^;A!X$4@^<&`!X/2+7-<`FW!YO0@`QEAVKO1U";`",,`"
MU()V,2`!];0S*<AV#N&","B#_4"#-LB(.(`#1M0(S_`#"^`'70$$0[`?XA`$
M+/"#_7`!WU`-Q,`'"_!`F5".0?`,'A`"U)`/FH`#C$`//H`#K240P?`P]["(
MC]`,^5"..(`\P4"1"D`$_7`)P]`/.E".3K,#Y>@;/5"./J5X(S`.Y!`#<[!,
M.%`(C^`,$UF.QO"%\X`(Y?]8!`3!`#R`%CZ@`R90D#A09YM0CM00`O3@!]#P
M##AP!^A`!PFPB%J&5HB@`M5`!.7(%75H#)3@9/L0#X>``[]@A`.!AWIX!VI`
M#XO0#WK0DGP09VT7#SH`"3K9B/VPE5W)!N6H26U0CHU@"$-)$!7P#L]0#/!0
M`6SY!OG0=GW0!HO9#\.@`8F`F`.Q"/!P"!J9`>A`"0_T",S@BE[H"+((`JDG
M#R#`60LX$,!(/AZ``R/``@;`+Y#P"!,``!L`#,"0"`@``"F`FPM@=P]0!`-0
M3RM@`)D`#)403,A(/G7`*RF@1`60")<00W37FB-0G&0$"8Y0F[>9F[O9F\`@
M`>#_HP,>```5$#M20@04"``CLX?AR0"&T`@<<![D$P05```=``SCP`R4,`)V
M$`-W4((9PXT-X8TO"([B6`ZAL0-S@`D?T`\^@`F_4`'KM@-Y4`=UU@-X8`CT
MB`@=H`/M,0&^`0ZX20'HL`-`\`[ED`*,0`/%(`&4D!P,V0`@\&P<T`]`8`GW
M,`'`(`.0L`\C4`FX&0'FU`:M%0'`D`-H(0'`L`/+(PS`P`,UB)+[L0<M20'`
M(`TY2@]8BB_[4`&+P`,>(`=4&">,<`/3@`'%8`+A4*+]0`<_``SBX`%\$`2%
MP@A!<`C.$`'%9P'W$`=^40S`D`:.R`^/,`3]H`'WT`DY_\`()9!=!&&6Y"`"
MSA`#'^`;;=D/\!!G$@`"'[`"S=!V=EF'CH"H&<`);O!`'*`)<.`#-=`&'3D0
MBL<#Q)2IC`D@;7<(-V`.+%@-%9"9^,"9I@.:R4,"10$"'@`"+2D"J`D3#+AU
M#?`&,1!#"]!G%1"@`^``[L,'`'`#0:```G!W<+```_`"^Z(`$U8$%K"</$.!
M.``8>S!A0#"?<Q>MTPH`"S`'%5`!>'``V;JM]O.M"0`^-2`"`K`!/4`^!`!:
M!]``$,@"<`"N>X``"5!D_5H`,7`!`A`".G`()M`GT'`""*`'Y*.""\&""6&@
M,3B#=\`/:=@/.Z`)Z/"@$2H/-__:#R@0`1,@'2K@##XH$.1`#G6`/HKZIA%@
M`1'0#W*P!_%A`)DC#)0@`8_$D#%P#N?P#C>:H_>@`43VHQ:091>@9$9ZE_WP
M!FC1=G*P/$;6`%-JA>.`#W'0DGRWI5PK!#]*`"80#,4@`B$FJ^20`PAP!]1@
M`G=PM&A%!S5(#@6@`L7`#P[@.7FX>1V@`"<P(1U@`0]0J(>:J/=`"0E``0Y`
M*GX`8#>"N/PP#B(0#^0`#5R;J=409Q5P#M^0`Y8@JH5:JOV0`<&JJO.`"3[@
M#"4`AK(J$-,0`LG1EE_:#WT`!\G;"$=+``!F`9G0#X<``Z2BNY#P0.E!K.60
M!S\PB]/_<`YZP:RZ^*Q;MP$R0#X/<`Z;T+X(<``OL`B;,$*U.'B'X`$"%4=[
ML`GB<"')V*[V`QC=T+Z;T`%UMP$.N+X$3#`OP`CS&\``\(QP$`%[`$X#@#$T
ML`DOQ0)J0#Z9`@"(L`$.\`8SD`*'$`%R``!Z\`'9Z,$E2Z`,H0IH,,-HH`X"
MD0A`@`E]<&8Q.[,0B@GR0`&.(:6;4#J\PP?T>`&9H`9WD*@^!62;\#YRX`,J
MJ@*4L`GZ-0?2P9`/$P\5L`DOH*-U^Z-RN`GD<`%.,[81L`DV<+9*NSP2L`D[
MT+8",0*-4`<.X!1S:PGT,,9?V@@\<`F;0)D"T79O``#$T`TF_R`'/Q#%;YJX
M'U`(=HH"C;`)\$$!IH=@&"407TP$FAL#FR`!]^`+.2#(9'G#0)`)?&`#=[`#
MCN"*>J`#F]``V</)FW`).=`)MGN7_("[&9`);,"[O@L-CCP0%4`/X:`"/H`9
ML>P(9]@'..`(@E;(!#$,#8`($Y(!F+`&==`/Q."AR5$,FN`&`-(XF[`D(="L
M#[&+X$0_Y-,`B;!U&@`8K%._@K<#*8""A4`^>N"_Y,,("Z``>``8G2!X[@P`
M#F!:X#3/+ORN$0P^9U,"ND,^`F`#(\,S9]/!&`T`=2!1-P`=,E`"EP('\^F?
M+CR@>V<1Z)`'._`#,]((TD`/AI,O]_^P`^@A#D*P`V@Q#D3@I`+1!@P*)V^0
M!OV@"3NP`QHIQ]60#W*\`],0!#M`B-6PD#5]U#)I1);`#)QXU,9@2/V0">;4
M`T?=D7ZQ"4[S`T=M0GXQ@T=]1?VPUI1PU?U0"<PP3O20"$=M%P/A%T;M#>>`
M!TUM&+Y@0O!`!_1P"-(`#4?-?40`(`*!#SM@"`*Q!D>M&&W`#\QPU!@F#WB]
M`Y$W$"O=TB1JU?T0#$<]M0)1!&T=#X%JV?U@#*AXU%T)!Y4""8BP`X8Q$#B@
M!TV*HJ5]U%HM#$==IFO]TT<=VW.@(F]PU)H4!SL`!RHR!T>]")1``Y$A>>;;
MSO4#``7P`FK_@`=X8``+$`-N@`?@T*WTC'<.<`?@E`)"@`?/X,\`\`%-.-``
M8`)!`-[$2'<'W=W?'=[C7=[?`,'/&#5<9P`I<%]*Q,'DLP)#T`8PL)LAD+"8
M13X:D`-M8-*L@])5N'@+)PTB,!-S><H\H9I=IP#82#X'T`$A$`+#N0`!R<(-
MX`"#5P`V13X#P`$MC@`$`(P+-N-2L@$MK@!UA^+@M.(M_N(QCM`T/@`:0#XX
M4)Y<EP`=P`$%@*\1H+`<X`&\`@!&#@#TVCE<7IM@_L(I[>$(9WTS,0U/F)H"
ML9K!&.=RWG6'8#9Q;K(*@;)HON<501XUT.*`'NB"/NB$7NB&?NB(_Y[HBK[H
MC-[HCF[HC@##?#[I%&%SE)X0>G[IFJX0EK[I!9'IGA[J`]'IHDZVI7[J!$'J
MH@[JJ*[ISY,/U(";[Y`/TX";Z`#KMLX?P"`5+N&RN!D.9$D,R*=OK-[JE/X\
MBET#,<`&T(`#RIX&TH`#(ZB1\E`CZJP2\_`#,S`#.W#=_7`.#W"S_E;LQL[G
MST,-G(`/\E`!E\`#ZEX!F9`#][#N6H8#$'#M*4$/BD`/YP`"@F'<XKYOY%[N
M:/YNYL#NWWN7F2"+=TD/:2`'IRD3SD`"(6`?`F$.(4`,`4_L!%_JU,8/X&`"
MOG`)"2^]#&\!P,`"\2VC+G$/X@`-(A!$1?^@!M6@`:@R[ATOZM3F##``#/QP
M"3VP#_<`[Q@V],7P`1^``'[B$OD@D?DP`O]N!Q_@`0>`/CB?\Y[^/-VP`BV`
M!XI`##=P!W%0`\9@`W90BL6$[R@!#S(P!W0``^9`#B94*AN?;P./]6]W[D+'
M!_2P"4'G#?3`"4%W)P+1"#??$OOP#$%7#/LP#M/;#_FPD%>/]Y>NZJ%^]Y1O
M=9;OZ9B?^3RW^9O>^9Z?<Z"OZ9B_#]#0!\1P#_/0!ZZ/5.]`"7T0B:.O<:5_
MZ9AO#C<@!#:@'Q,`!W"0+?W@!SV@!@]:^[:/_`>!^?0@#/1``\$P#DM/$#MP
M"3ZL_!CW//PP[_+_H"'<[_WRT/W[$/Y&,A/YT/T#P0_T(`_T0.(UL?WH/_[A
M#ZE'%/[YL`_ST/[J;X=G[A#\L`<`H4#8.`46U*#KEW"')G0?$CY,2*R/GCQY
M]%S$F%'C1HX=/7X$&5+D2)(E39Y$F5+E2I&/Z$&$"?-?3'`[-F0PY"W'33[@
M=FK(PXD!!PXC8AY%FE1IS'UT`&AZ*`S%AA&<EE[%FA6F-QT)G/7K1!2#A(?T
M]FC@``D2!Q/`B)TXIQ6B!;GC>#AZ^"Z&KX<+RSE,^BR87,*%#1]&G%CQ8L:-
M'2^>";.8H7OH*ES20<]R)ASTWE7@I.,QXFHX(D!-Z"/1/DTQ1C<FADC%_]>'
M>FX\Y(/C7<(/S"CY:$%IGV&Z6>7Y^'"''+U">6HTHX>IWPX@<'HH%?Q:^W;N
MW;U_!Y\U\M'/EWXDM)")!WI.&X``@1;^Z#Y(,FR@[N=#.C'7\@F[H*T?=#`(
MYZ$.;``"D7?@X,&0-&)HYK#BL'KG#0O#B<?"3>ZA)Y%^-'EC#G*P&\P_$T]$
M,445&QL/IG=LX,,\]-1#SQQ++#E$!17?66$3'O#3KQ_^5EP*P(?84&.XA#I@
MY)$>*'F'DB#>>X$8XD[,CD@MM^2RR^]:?(B<&@ZA1T9^TEOOS'WPZ2>?"E0T
M!P$*%(!@Q/PN$;(_+Q\RLA]R4A@&H@[@X0<./?_Z&0>#(AX)!C#")I0ORSTG
MI;122V6*Z9T=?!C&&5]N`"83$H*I(502ABE5$Z.(_+$?>;IY`XYA\#AO4G2*
M*6&19_II`XZ7_#2'!4B$^6&1?AJAX9`@+%GU42Q+O#1:::<]$<Q^BHDAVQ[B
M\2/;9^0Q)%OH%LG6&"T/^6J:/<@I(H8?Q*%TF&S=[8<2:"\!IIH:8J@#H1_(
M06>.&,PM#-+P)*4V88479LQ:AA].T6#P$(:X8HLO=OABC;F3^#N*-P8Y9$HS
M%KGDQ#KV[F.35V99/I);AGDIE+M3.6:;;U;L99QWGIF[FG<&.FBE=!8:YIZW
M^[EHI84F>FF3C]8N::?_IR92'!?:2(B:%WX8YR%G5`!;!L.LA:<-"RP8!ITB
MS@[FG37._J6?<WJPP-$4%:$`VFY<L."$:2A])XVSBSEGB+,#3<@9#2S@@9QG
M.%BAFG%8B*O@9ZG&?,\4_#@AH10NJ2.-A^:11IH.%A@[)D[:F*><RW)HO8),
M;)#'=7)^P.,>(LG9(0$@_<"G$CV]S.0->LBI`)(=Z''=0&KN24./WAKI@09'
ME'361*DSYUZ^:CKOQP-A\E@/(G$ZL),PDNFYK%8TV0O!#T7@39$?3&"@`;\Y
M$BQBB$OIL0`DA(`>`\&C'W/0PP[J`(DTI,!*5](>M+HW011]+R%#<$$(RO<0
M_QV(8#>%R=@\WC`$&?7C?2;D1`?4\(,=J$@>.$!$JQ*B!QL4(0=PL)0\VE`$
M`1)P209$X#C<((0@!*$(TH"@?[9'02:^QH()H<\&^S$,#E@E=9E*@QO04<(3
M6B`T_6`?G!)P@@F`H'(^@,0^@#$\+Z%C"&]X1P]-6,`#'JH<(!B"(0K!@B1&
M2H)-!"1W@'""!ARB'T)8P0ND0P0#WJ$&Y3B,P_#`AKA<`G:NFUWM0$.#VE%`
M1?MXQC-BL(=\I.80^<`$&[M$!RWV0WGS0)[S[E&$0S$#!'2(0S4\:;D(!M*7
MW*%&*$=4C6<\KQ_5&,XY*G=%B&SB;!8@`3K4<#9AO/_#;!8`QCO<<+9.:,D-
M@V'&$+[Q@KY1@U*9>.8)T$&$P?6##Y!XQ@8LT`-(FL`;O+,`7WBIQ#_^TI_2
M:MH_I06UA^R#&HUH!C[V(8U&-`*2"8G')AIA1:0L4:`775%`,5HI@B8$'3K@
MP0VF@0X;_(`#^NP'(G3P`[O%Q*(;A:G+8OJPCO9C'IN0!PV",0X1W",'*-V!
M)1I"HID6E4@:->J6:IJ00RA@IT;Y:5\8TM*(^&$/=Z##'K2Z5:YVU:M?!6M8
MQ3I6LI;5K&=%:UK5NE:VMM6M987$KZZ"U*02::GDZ$$B^#&.$>P#!T#5Q%^.
MP@_".B,8A$5L8A6[6,8VUK'_CX5L9"4[6<I6UK*7Q6QF-6M9?:C#LY\%;3L:
MJQ6ZUE5%-:4'$4)@"',D"A$U,,8]XK:#--PA!T0U+=7HX8M*)$XMD'A@/[JA
ME@(II1U&0&YRE8N&G.5VH%IYQQ"DZPUX2!<3])`''_IQB2&L@7X5[:=S@^:(
M'30@(9D8`A``T)]]V*`'(&C$4HZK7/HR-S'6FD<A7O`":,2##_MUACS\L%]F
M/&._+[B-BN[!B/U6CAQ$>($/ONNE>?SW!=,@QH$W6(T9O(`.Z-"7$,9Q#B%\
M,'O\%*_3BE&--Y4E`L)(2#XN,,OX&I>^]6TN3#:A`V%H@@2=N$&/1P",&@1C
M$R.(_P<SF&$)LJ1H'X_0*3/8U`\WQ($8>:C5GC"Q@QZ7`!(U4')\$K("2@SC
M!XIH@2/HH(8TU$%W^_1CBJ<&*1-LX"'YR$`_BE#CI,SWQLBU+V*LM8_AY,,"
M9GK?F6(\9#AI0!@CY4=J\#2D21&Z30',P32F(==!U5$%F-!$&D007JPLM3$O
ME?/*)B2."90RQAG8AQ#XC!0__SG0D43*/1P1`R[2:([]X`0+$)(B<R@@!2;P
M@0'SLQ]5=FG!,AA&"E)0@CK0$8'4B(%TAX"(],G%U(Q!=:I#Y@Q*/"!N_3@!
M^*`QCGQ$8!$ZZ*:-_PSH',-$P#L01Z_+1Y=YT*`1V#N1.?]`8%,1%#=(E)Y4
M=G>0OL]8^U#F0$$0[B"$Z\#Y8*06-\PN440\)*00P\[$,_911$?(0[[SIO=]
MC\(((%1CNYG9S`TT\R9+[*`;*S*'!^(1CQ`8?#6MJ50B@/"-:Q6B,BWN1P>\
M<0\V'.H9'8@#'G39QXMG?*:UOO&MF?D07SC@`1I`@4XT@`$_@$,'&<#`'OIQ
MASD`_$3T*$(&,C`$>3A##<(X@09&$.\]::(!7U=!3<:.B'X8HA*0V(`&8A"?
M$FS"P!?(`]4GAG&K^Q+K.%8Y3/9!#\[?@Q_XX/P^/A_Z?EB:2)NG1RG7Q`\.
M>9Y2J*>'[D!/CT(3FO/XB+3G1^__]JQ\>S'AKGSF+K_<>@??KI<S_D6'GURM
M@S#Y6O*]8H#__/#<`T1V>L<BWC#E<_#A#888]G>6GW)!4W]%T4_,],WOG6#L
M0`/,2,@B?/"`>21D#D3@@Q`Z#I[Q&Z'YZEN_B$&^`.02=/`&%X"_7W@`/MB`
M^NN'&H`$?#@$*4(*4""#"\1`#"P#K>B__Y.+TB+`Q4`_Q%"_$-R.%X`_2K`!
M:L"`O^D'1^B`"OB`WEJ*+T"Y).!`E/._XC/![QC!PRC!'AP-%.P'O#L!!.@/
M")1`"CP*&YPW',R*#N3!?KB'38`#.``'>M"$*^P&>K!".*B&>^"$*S2G%*&'
M*[S">'@(_W3``SB0CDFQOBN$EWEX!#A0NX1`!#1L!G*@@T-`!W@X!`<\L3@3
MPA69!CC0`!_`'@Z8AVKP!3SP@3?H@4*X"B?\,RC$"BG,/(@8!AW`@SFH`6*X
M@4^D@6*P@4^4`6:P`;9KMNKK@SZ0`PDH+G0(`C;H@W/;D_;#`SFP`;/X`3W@
MLTKH@SLH`3WP`3<(`CS(`R$01&\;P$*LH%?L`^RAA'P`!V*(HSZ`DDJ\P1Q$
M.0\DK9@`L7VXA\OH@361G1U`1TZ(`7@8AUU:D3=8`P>,@S<(OTDYAVX@1PO8
ML6J(-)@(!AJ8AM[HA"$0`4WXQT&L.FC<&$N\,4R\"DTLO_EPAO\/T#?TH`86
MJ``*&*`5`0<9X+OYLX`1"*Y*:P80@`0%V$A+@`AZD`,BX(=B^(`U*`(A&`:Y
M<L:LX(=X^`:3VX=O`,HW:Q-R^(9N<RG*8\B$<4CZ@LB3^\8II$).6(%IN$@4
MHH%YL(P5:0HBD"O]X(=,:$4MJ4(5&*X!,@>DZP=H``%S\*@8``(W8`$YD+RD
MB`<BD`"U(X@2*($`V805&`&J@H@@3$HN64KE:DIYFS=P%(^CV(0<<`9^N`0>
MP`=YD)T<N`?*Y`0;N$RT/)%JT(%,@`@?^#=?"$LBT80<V!5(\(')1$L@>(.'
MF`8->(-"F#J+4PITN(,VP,MFZ0M(.`?_P'P(P1Q,+2G,Y#K,/M-!Q<0*:S$&
M#O``&@@":,"!&8"!-9"&'*#.(J`&[(0!_U$18)B!7Z&&0K`$&M@7#YD48MB`
M#Z@!(7"&&Z!.-^B'3!B,"C"Q&R@$4G$!(IA+I9@#O'0`&U`$05R(H8H):<B$
M2T`$/[B$!G70!X70")70":70"K70"\70#-70#>70#O70#[50)D`Y)-!02=#!
M*I!08!#*I;"6<PB&%RV&?*"&%WV'?*B&%T4'&\71%7F',NP'>-@TPS(&G.P2
M<WC18#`&?)C1MNF'<!@1@DF((;T':`B&>]0*4_M/*@P&3:"!X"I0P'P'<0@'
M8,"$<##3,T73_S15TS5ETS9UTS>%TSB5TSFETSJUTSO%TS?U@AN<TVC0P3%8
M4W+@/:0`P>$L-:W8!W$H`CBXAT25!AD(AGV`I!U0A%\P`=PRU*N8!W$P.9L2
MAW?`'DD5ARE3BE3@@E-%U53E!JTH3N0Z3EI+3JC,5,6H*7(@@5M]AG.X53R(
MAW?P@;4C`11P0?":U:6@!S60`#N@PC4`@1QPN800A@PRI*40!1W<!E;MQBB,
MU4TL5L;X0<,03@*$ASF``V6=AS@XAQP`S80H,W&P,VJU5FQ]0F],3%GMUOZD
M&:3LUCM0UH0`!@Q8UX<`@G=5BFI%N6O-BE8U@E<]"HG$M7OUUF>$6/^8X->$
MH(<VV(%[%`<)@-*D,-AY0UBL4%B&C0F'W;J)E1")1=E]&(<W<(-&O004B"U^
M8$MX2`$]8$MX/5AYO41ZM;4IS`=IV(1-0`=\$%JB-=JA-8=\F(:AA21Q&%I<
M!`]^`(>A]08E:=JAW95)"=JA?8=R&-I-@+&'.(>A%0=X^`5BF(=[((85O5*5
MG5AT&(&Y-09XF%N2G`?1R(.YQ8&K^-@_"UENG%=M?4IN38AGV`$<H($T>`8<
M4%PBD,X;H`$AF(8<N($:`()^R`,0V($L`P]YT`$;L`$=^"#ET8$2*$T5<08=
M4-PV:(8=V`$8F(`U%((:V(%@H(,9J`%'@`3_&S"QG$0QE.6.O[VQP*W!;,W$
M;9U(B*B&7V#-R,2'>9`='8A>T-!,Z=5<.@BX#XB]@H.(>XB!6>L2:@"&?)"'
M":F.AP@".7#`WLB$(#@!3$A(X"5$X=4.XJ4OXU6*D?79K+/7LZQ*+[K*.<J#
M"0@!\`D/<^B`W2"!XDH(:-``(MV3YO$3"UBF#N"`$"@"<UB$$J"#--@!),)7
MG]%7^ST,_%4N_4T*_B7<>C5<**J&$@B&`#:'(*B`"F``S6V#<GBHZK.#&S8`
M!]X'#NC8/=F':AB!0&DO/\">#J@&<!`"0[!1'O@!(0@!2!AAI"EA$RX,%$XN
M%48*%D[>PEU>B&"&_Q@XK$LXQW+,!'4LQX3`ATU`@>QU,F)8@?3)A$NU%&-X
M`<1A!OX2%'/8!T,1K@IH@T:H386</"Y^#2]&+C!N0N2-2.5]6.9-@16H@T,H
M!AR8`S>P`6.X@4ZN@7!H0QI`HCQ@`3S0+OF@AT_,@4W8!W*P"A-`'$JA!A1H
M`3OPD#:H@RDS!FCX`3:@@QT`33=8@TO8`3:@@2R.FBV6,R_$`S&+/SR@9A$.
M#T<V`DB."3&>9#*NY(>H!CL09T.@ATX09W"0+7'V!G`09Y'KAV<0Y\AC97$.
M!C89ATWHATI0-DJ9!G&V`T,B!FLN!F@H!SRP`TPPN4-X!WFX!#MX5D7V&/]G
M3K%@R`$U>(&$3`0[N`$`,`2LR(95`.F0%FELT`ILUF:8X&:G=.$R9N3>@UOC
M4X0A`*#YK9<7Z)JKV`4=U(62CM>$E625_MD7;FF9>>G@@P0(L``"F-]J8``U
MR(J<1KF=S@J3YMF'[%_,8^FA)NI>"D%\L(#Y7804T`JHGC>IQ@JJ]NG!'>.5
M_F:MWNK@73]JR(,X:`%^J(8'6H`[&&N=YNF=3>N>;>&@SFJW1HIO+8QPC2EI
MH`,ZV)5I&-MI?6J^GNJ>%MF?1DS!;FO"+NRBAEBR_C.S]EO*%ES`7FO,/ME^
MX`?-R-'41H?5UHQ28NVBI<+6_MWMJ(PWJPQT$,K_?8B'/QQ4+8GM?,"'UD8'
M$]N'=T`'>2"T=X`'0B,49OY>W4Z(W':UTH,'=%##P)#HX?3L&P-MG079JF;*
MJR:^%_Z&'<#@/N@&',!@/1"''E@`8&A2'<!@9<V#"/@`$O".BWT`O;X'-^"`
M#@B"3K5C#R@!_/`2S\3@0X"$!_B`#^"CA&@$#_"`&'@&1_``%/@%84@!*W5I
MXU"#!U`[>1""#F@`E`(&%.@`X#S<[1[,[J:O[RY8T3Y>M>YFMCYM8T"$H\.,
M>_B,9_`#&9!O3J@!SWB3/-#>[]"F-]#K>&B#>)`'[^T'1HC434C=%"&&1#@Z
M.1(4::"'(9`>9JB$'V`!_^&`[H0X!SA@`[P,`7F(*H5XA-_$5"Z&<>62<8^E
M\?VU;.3TYM/.B_;Q(5`!-M$@8!'H@2``CSO0Z]&1\H3@!RN_E'<(H`[H@1[P
MT1^P@=C5!#G0`3](@QF(D#-_B"SEJWYX\^F8JJ.@!D[8A$4XA+"%]5B7]5FG
M]5JW]5O']5S7=5Q7XTKO`4P(VS;H@378]6*W=4+0P4#8]2S0P4C8=2<8T5V?
M!!VT@ED?!E)E4:1X!QHH!"Y*"$'_(@)65WS^#D4OBS<H@DY-B'!0`7('G!C@
MMDS(!$18@8=H@3ZH!!U@A'>XA/<``A:H9?K%"E*'*L`R4)@XAVJ@ADZP!&IP
M^/^'A_B(E_B)I_B*M_B+Q_B,U_B*1]!,.`$`*`:']X$ZR(1?V/B3M_A9T,%3
MV'A/T,%<V/@NN,&-7P8=%(.)#X??C@F'&0<:T/)+\`'"*@YPUP&AI^/P,/<?
M=0,U,(>$E`81<`:=KYKPQ8=\H`=^,#0#08=".91QN(!%&88.$/5]@`<WL`.6
M#8%Q$')^J+\=J(1B$($YOZA[J(%_4PA+@(=F5`IU^(*^]_N_1X6]CNJ^#N^_
MMNK`]M\71H<<X`%@,(9?N`%.N`03>(=A4($\*(9AH(%-N`3]SH,>&(:2U`Y\
M,+,?N,D\:+QAN(=XH`9O^``]&`8?]9)SL`$?``9FV+'_3KB$SAF'<G"!1OB%
M'X@O1;`!1`@"2-!OVTP*<NB`YF^&<FC^.>CMVY*##A`!:SX*Q!8:.H@`*-V!
M"N``%H>)=-#!4!#\LB9\P!5OPR1OYIM"8Z"!^/^!>#B$^`^E^*>!'IB'1(A_
M^/.%^`<('?T&$BQH\"!"A.]H,*0AKB$-=-3Z+&JX)R'&C!HW&B36,`@]1`RE
M]<,4K!L.&G?0]0M"#ET=&LPX'K1`\R;'9\%P\NSI\R?0@N)@X"FXXQ*X#S33
M&6GJ]&FHF[N>4C6BZZ:HJD^WW?RBM6F2F^V^-D43M-^_LVK7LFWK]FT_FW`U
MZIQK]ZY/32!FQBNJZ(8-.$O)_QJ)2G,JV:LTLY+E2M/KU[`TQY(U&S0MWLR:
M-W,>*+=SO[J@1]\M]VS@O6']Y`7+]&XP6<,<$7]5S)'Q5\<<(6N5S)'R5\M`
M,9,N;OPXPL^=12,'O4^>/'P$^=V#/III;*F$;6_$K57W1MY5?6\$KE7X3^+-
MU[/7K)PS\_:9#V7@T(<@M1H;"NP#C?VK;!O1IA5W&GE7%7@:B4<5>1J95Q5Z
M/JDG'X45GO7>9O%9"%<%+!6T"!#W6-!?9_]I%:!&`U958$8'4I5@1@L^U6!&
M#U(584\3;K@CCQEAJ)F&/:Y%`1!`;$+0(FG$12)G)E:%8D8J4L4B1BYNU159
M-&)DX_]3./*DHY!A]OAC9D&*"10%EOC0!I)*CN@?85!B).535"9DI5,P8B2C
M4UHFQ*537N*DXSMJ6%!!,.<,<:@O\+@Q`3']Q//&!,(,E`@%%G2063Z(4'`(
M08A(``Q^+%A@`DD6HD/$H<.\D\8$IQ$DC086[#`.,QNH0`TX*YSC$YEXF7FF
M3QE00\<;_=S3SR)#B/,F1_I(.RVU^MSD)%5R)D2G4W8BA&=3>B;$)UAB$2;H
M33KZX@8]Y51P20[SN"M,&C&02@P1-'`R4!YT;&8.#6W<,=`X.RB@"4$^^(%/
M)3%LJ`D<[5;0R1LK%%.0#-70,X0>'S#32`\S.,(D3L'>-:S_A?,8,PU!Z!13
M##@D:V3,!CF,TP\+_6BRP0:4W,0%65Q<&Z=VB6%%F+@(D6N$GP@!6M998`Y$
MS[L_>#;0#:0.I,.^_>01PR&*;';'P/Q<`@,-"`\TQP^%#%%$C_/(!</%!2G"
MQPV0]##'(VFH$"FPI*%<(1XFF$!0$2RXD$,UHP']E="P`5AT;4<WAF5DYE86
M=4+RM%'$)5;'A;76_7#-+PINR#'VP/'8H`@/:GN-`QLZ)+NC/&JP,1#=!L6A
MQ@R7D`.'$$$$(00T@8\VN'R--##,X0-1,,X[,/SB>-!#9W?8=I;GAGEOF@?'
M^4&KOH%.Z%?WDS5!IWOM+V=D]V,._P(E2/"!.0/Y`,D^P#B\(3J"`(?7]*-W
M!MG'&_30CW)\8`B'0,0*E`<:YK5G!G&@1O3ZD0,3G,`%J>K,X[02.8Y@"RJ4
M(Y#WO@.^\8CO/.0KR#[JH`9RX`,3.7C'L_B!#QMT`A\ZS($FI),'.>!#.IG!
M!QWJ@(]]3&,:,_!#/OBQC[;-PQ(TV-`^Y-"&<BP1'S`8AG3VL0\/PJ,(?.A'
M,410!SA,PV08<>-<*'@6?N3#B`/1X1)O4@,)3.``M^.`,(P!`TN!)H15&>%&
M2N@4;2&$6TWQUD'`982D'61I33O(TXR`+IKHJ!,9^.0)WM&&3PY#&)_,P`B(
M<<H0],,1G_]4"E[,<<H,_*H?;[!4,XKPC1AD(`6-LY`F3ID"3ISR!/WP`R6Z
MX8$,_*`<_4C!-\C!@PR4KF2"VPE>AG&"!!0D$1:``)MPXHW#?4,>(MA$,&:@
MFD)F3W(G.N&*4HB@%3*HA1!Z(;'R62$XPD6.0*'&"11!@8)T"!'AO$DYDJ6'
M:1#C!2\XQ#RP!SGM38Y[1EL,TN@Y(WO>")_Z_.AZ^/D6?_YD#R:@AG)L8M#1
M]((6+GTI3.OQLW:2D&@6K1Q&+_>8+'&T2QX%*5"+(U*WF"D<*CCJ+P="#1>L
MX29[P(`*#@`$@JCTH)P!!6'4,=.)NO-)\)R2/%^DT3[U-%`_#2K_6CDSU(.(
M<1_\@*$8,V*F>T@#&B@P!D'V@0(_9'`C[Y"&-"30#7Z\U0+TJ(-5-X-5LFB5
M)H:D"B(UHLBF,/(@CK1*6*^TT\Q-YEQG32MH[[+6@HSC`!C``.#Z(8P25`"6
M"1G6.X2A`F<09`82@$9?:9*"?E#B/B;`@`UN!IK%?J6Q''GL4R*;D<D6YJMU
MRFR>QEJNSF[N,J&]KGM^,HX1'&0'CCB':Q$R+&*LX`7=J*W`,H#7CQ)7*\;=
M"'*=HER,,+>R!KDL)`TB24H:Q))EA9IUL2O@N8R6(..(0!$P00^"[$`3Z`@O
M0:H1#&`\`A'`N#"&,:R)$/`!PSX@`0@4_S"$#).XQ"8^,8I3K&(38X$PL%@Q
MAI5`%B7`^,*P(`P6:@P,4A#F$SK6`F%>H>,GD`4).JX%8:Y@XF+842,ZF@<?
M6,""9\1##U)V!CT.P8+DA43*%].$E&60F7V`.1/]@(>4I5S+<02!!3P(QX;D
M865O$(0.++`C-6#``CF@HQHQ^,$XS`$$`O*DP%-KQ"%J,).!-/C!""E'735!
M"6A0NM+0V,0%+E`$8_AB!I7F!`@L+>I1D[K4IJ8T*Z"@ZE6SVA6G%K49"(.,
M5UMZ"61I`JTKC0O"F"'7E#8%84KA:VB<@3"W&'87BCSL9!`F#*2NALPPHB--
MZ(`8OA@!)VY@;?\1`,,&)R"5,&I`C%^P,@]!>$;R\%(.$^Q@8/MXQC.(">=^
MM&$.S=A##S:$"1Z$@+;]$(<)`+#@@:0`$\8`0B)60(DZ%($(=UA63PQ-D'?$
MP!<,UH0T(&R0N<+[-??X!D'P06?0Z((PO+A)>ZOR7HW$MRGS34A]G=LMZ(9+
MNDS[KR8_VX]\6"!]HUM?-?-1`:^=.]V9D=]`]J$#/N1#?YCH!S'^MR$7T'8?
M:H"#80G2`9;,00\KJ(0FTB`";$;\)^6P@`7>``]TB+D-%N"`T<5+=AZ5G"PG
MITG*J;+RC+3<""]'2,QOBL*<?F^SX:/N^`)\D'LH(GBBDPO[4`.)%WC_30,L
M$+-FD-X/9M2@;OWPP=.CSB.J]V,:.=C$!@:NP3LT8@9ZJ`8-AB#[0@BWT-<,
M4]V_<G>.Y/TI>\=(W_]^D,#/IGN$5Z'A68AX%RJ^(/+@`P_&X7/(:VT>A^!!
MX_K5&:3?`PYL@/CG0R]U"Y$>$AL(0@/F8&`V""$$"C3'"8)PAR+P0(++F?M;
MW&&+_?.__]:X2>YIQ>YM1.\YQ>\E1/!1U#L)7CP=WSPE7STMWSTU'T$H`A#0
MV27H`#V@P]`!W4!4@@]0PUMI7_P,3#\X`PUXWN<E`IF-7X607C@H@B)$`"3`
M$"?@P$P\0P?$P1U4PT"5W?+@GUMH`V&,`@":_QS*9=56B9`">A4#@I4#BA4$
M;I0$=A0%]@,G-$`#7(`)@$,.',HA"`,&*(`$B,`P.``#6``(>$T#8(`'9$8Y
M8(`#.``&F`,PU$#3]4,N$8,)7$`(7(^%9`(&(,`$H`!!I%X_]`$EO,`%H$`Q
M],<(_`(TO``%7`003I`0M@41DH41TD0`5L4`:D0!-L4!(D0"=E6VR-PCT=PD
MV=PE&40F;1)'Z(@4M54_M!5AM95;Z6(_U&*TP04O2M%T](<M;H@O,@F)Y&)<
M)5W2N97]P4<FKH,T3B,ULL--;.)7=")'?")5A&)&C*(1E.)!G&)-;4_Q7=1M
M9-04DE45^M05#A@\!O^%Q`6%F20!68#!-1;A$=I=$C+6$AY2$Z;B$SY7%&K6
M;O!4.YK5.\8C0]I>$"*$/7X%/M($-FJ%-FX$-SZ%-V($.(JC09!C(MG4.>)4
M.NK407+6;WC60C8D2V[$/`)%/=YC/G+B/NI>/Q;7/T)60)K00,Y<04;7.DY7
M2E;7<+2D45K30QY$1&K%1')$15;%16I$1CK%1B9$1^9D<NWD(JDB9OUDS07E
MS24D@!7E49:E1KSD3\2D1,YD-M:D`-ZD>V&E?&DE97%E?A7$?KDBSLGB1DB-
M6?XE6OJ$6C(E6UJD6X(B7*J<7+H<73973ZZB5[8B6+YB0<3B3]V#)KB!&WC_
M`SU@@F96PSUL@AN`W#UT@F:RC#%HYNK@Q3ZDYL7L`S%HYC"0B&AJ9B5L"#UD
M@ALXDS1HIAL4!<'`@1M`0CR00QST`3K`0Q]$U"7>'T3*)$7JHR<B(=XIH6/1
M5$B:HX`87TD6WDD>WE`F'ED6A#`LG1VHTPWL@1W$@#'D@`>02C/@@![<`>5]
M3=AD!CK$P`H,S#NX`![@P0LX$QH=PB'D@`NV!S#L@`;0%B2D`('6(*/)`?1A
M0@\0#]D4`7,Z)"8^YUI&)TU.)S]6IS]>)U>58T6-Y.!U)_)]I_*%)_.-Y\1]
MPS[@0\_UP(Q6P#MT0PV0"CQ`VS@,%`D>D330P<"8_\,'Y$,^C,"\3<T($%*%
MH`,XL`"#"L%!=,`Y[`,<=`PS^,(0A(`FO%5S0B.'$J:'MB6(VJ2(XB2),B$J
M\B2*-J"*/B"+1J"+3B",PE`QA,#TD<ZE6``%4&D>-("FL$X_H,,(%`,U@,"2
M]D,FG`"83AUM:4*F4`"$]L,);`(U"($>,`,(J$$1#$$P9"A2;JA20J=32N<V
M4B?O6>=Q8:=DB>1VHF-WJ..<4F&=6N&=H@:84<.>>F#+#%V09IZ[50(*E(`"
M+.D\4,"BDI^_#<0Y=&`_4,,*G,`$*!`ZP``0N,$+"$:89D@F+F55-.5&/"55
M1&5&3&535"5"7.6:`F2;;O_E8W9EG$IAK;+CK;ICKNJ,#CB#V>S`/<1#![*/
M-UQ"=0`K_!`J:CC"#7B(U^2`D)#>-`01P,*0,>R`Q4V#!KR!'_C@,WKKF(9K
M84+E879C8NK=8OI=8]I70>`7*_)70?B76.;<%1;#!G!`#/B`-."`GK6!,\P`
M!;!;-?``#+0`W.0!!\R`P^+%.\Q`!W3`#(C##,``#S##/E##&9G`HFT(,<Q`
M!*0`$$C##NA9LEP",*A!#-``)2Q+#81A#:R`DG0KD'RKJ8XKJF*DJA(@J\*7
MJRX7K*8(=\ZJ288'0MZK0N8J.A`#XC9#/G0#XK[#.R`N,1C#/H`#XK)$.2"N
M"L[_!3Y`+C'0`^+&C*0TSC2`GZI`KC/L@S<@+CSTPSB4`S00`S1`G#/<PSTP
M%,..JG.6:H>>ZH>F:HBNZHBV:HEFYXG&*DD"KG<*+DJ6ATKFZU\"YNWI+IGR
MKIGZ+IH"KYH*+YN:Z`*^*13.JT$J+W@R+U&FQ_.>;T$$YDV<`S50`R=80OO&
M;_M&P1'4K_W:+Q7(K_[N[S'<K_\>P2#LKP"W;RO\[_W*P@`+\!\8L/TF0P+O
M[Q0P\!%,P0/K;S)(\!$`0@7+;RQ@<"ML</P*`@8C`PBW+Q5(L!24,#4H`P9O
M@0!#&R>AKPRK[QW`@>PD!#5TPB8PPB%L@@__,!`'L1`#_S$?0,(0'S$2;\(<
M)#$3`W$FV$$31[$C%$(4-[$?/$(5,W$=:$(6)S$==#$20P(?@/$1'P(CD/$0
MZ\'JSJ(,HZ_Z)D(?9*+<K44FC-Q9[,&C`D66K<4T=,U9<`++J(4AD.Y/[,,9
MJ84WF)E:!(.LG$4BK'%?MO'YJB]/D%1&U/%:X+%:[+%:]/%:`/):#+):&/):
M)/):,/):/'(,2S+TCD8U-,-:"`,YK`4EY/%/W,/3J<4W9.Y/P,Q:$*Q:\(//
MJ,4XK--9-$-2!84FB&I&^"4KQR,E/[,T3[.T4;-11K,U9_,T.[,VIQ4V=S,X
MHR\WAS-(?3,YG[-1CC,Z$XLYK_^S.P^8.K^SD+2S/-<S6L6S/6\(/><S/Q,+
M/O>S?.PS0`_TCOPS03>'0&_$/2`""/`!/=!#(8``"(SN(4AT\KR#'(!`LQ;$
MJX``J9@#$8``"?3#.:0!"'"77H``*R'$.,#`KO1#-\``"%B--\0`".3;-]``
M".Q`0D`#"/C`+',J"(#*,TCT?<B`1(/`#0]$/CP"".!!="2"1#-#/C""1!?#
M,$CT'!#:0$S#3<]R48.`'_2#3X/`14"#".2`./2##4BT">8#)8"`'<1#55_U
M/F`"""S"+4*"1`O#/22UUL`#'(#`TZ&#&TAT/L@#'8``2<B#'8#`:1!#4A-0
M.=A`";#_3#BT]0TLD`YPU_SP6_+P@41+G3>D]5I+PPB`P,!\`PGDF^EH=3_P
M@$1S:[H<])DDM$9,`PTX@PH\PS2@0#6P@#%4@PE4PPL0PSXP@@VL0"8FPALX
M@P;T@R$(@3@,'2(`@3@,%"((P3G4TD'X`"5@0@OT`PXL@C$<S@XD@C.,=`\<
M0CEP=4&8@#.\@;_`71ZP"=SQ@9*\PSD8@@%4*D&(`]5]T791`PW\0CF$`#78
M`.I!@S?4P)'$MS/$01ST0WZK03]TP#.X33]\0#'@`=QP`#B<`W.2@Y3&0#`D
M^()OPCND0!&H7SQX`#4<!3W0TCE`W"40@3-D@##O`#A<`#YL_P(0H$"D_,(/
MJ("E:`(.=#>8KD$B!$,)M`0?4,.FO$$A3,!`2*@QO&$1^,$Y$%H*&`.(]T,(
M&(,B6$T+5,)(]\,[F`,D"(0(0,,YR,.7V+:8X/9&5(,(.(,TJ$`!&0,U&.(,
M$(,W*``>V(`<]X,Q2$`_[,'JV$0A)(M*07CM(00B"#JA'TX-!(,XC'0.+/%Z
M*0002'H_K)1-),E`S(,:#`%&?(,)"$.G:]`OD`,K[<`FC$`C7((,5--`P$,0
ML(E-*`*&6P`_/`*K:T`FM,%4<0`F;$(@#P0XH``PD(,(](.M#X0>J!\\;,H/
M7`(]3(`/"^A`.$,$\(,CL'H&&%$,I/]6#23Y"OAPD^%U/_1`)FP[515$,&1`
M/Q1!$6R",?<#/;!!$/3#!LR#SX'#FO>#+[2!DHB`(VS"!ZVRG8])<]P#$)2`
M./3YGP=Z/PRZ-U2`'7R`#Q#R0,1#"`B$HX].I(\.,>Q`#?!T0J##`N1!QV=Z
M/VQZK.>`"M3`2A\$/V1"!2!,58T.JI.U!%A"0MR#&HQ`->3\K-?Z)M@`#=S`
M"X3Z'6T"!9A9L`][L;.Z&^S`"2P[#NQ`I>)#&X@`-5"[M4=XMI\9MWO[`NS`
M#L!RJJ<`#+02NJL[NR=Y!L@]G0_$.SR`^M&[O:L/FT^`&^P[NUG5,$2`SQ3\
MP2?\#\#`18C_P,LG0IU//,4CAS#@`&WU.3T(=Z#3PW'W!1Y\P`^0?"+VP.HZ
M^CL,7:3#PP_V`SE@>4(``;<.>C-H.B-[NB5(0\\;!#W$@"-X1C[<]Y+H-^]$
M4$(8@[;]&PG0PX'3.CTP>`6,`SS4@"*'7`SH=?(/>SYP^"U>MX4S<S/8@&I0
M>_6SO;9WP#W0^`8<Q"+PP"R?>SP`^4"L.T&TN\[4GT&H`4"DZ=>O1Z9O'0;V
MLY`0#I"!11HE3"CCT,`-\13]&`B.1,)]B73T$T%.8DF3$O^=5+F294N7+V'&
ME#F39DV8"VWFE%C-@H,/U:0M^-"C'#4%'WB0'&@CV$E*#BB<Z+='_X('./T*
M2?C@II^F$!_8J&1S@$.0?C,VC(#4KX8&$8_Z;4(1(N+)%08\).HW(80+8OTJ
MA&`Q;&"$9RK)86#PX9FX!"!VA"/W6,>W.QY`Y.A6TH6!#A4I""9L0;`PMB%6
M-.4`(L2=@>4R+&XV&41E>"$H2"`&#P$('-7H'0@1`MC`31`D@.#G",*'(ON"
MA6"P@=ZP$`TTR-/D8/B[@7029-A!,`,(1?WPA#!@HY^>!1=J]"M"6D;"&@4Z
MZ.FW`82*XCD\2,".?G8((05.1/(@A#AF2JDD?N(IIQQ\]HFPG'L@E!!#"^^1
M*!\)X]D''PGAV>=#[_K9A\1]^I&P''H\>O^G''-8[`<=?CR2\!T6S0&Q1IV`
M;"G#?/JYQ\5S<BQGQP_1V6>?)FO"*4B;/I0P'Q7+D8<?++5,"!Y\3J+'Q7[$
MO)!,#8N4$,:39%2R'WAF)!).<XA\LAPB3^JQG'GZ.4=)%OV$LL^5L)P0RWBV
M!)$?(\M!M"0_]^RS'"C1F93%2BD%<:!"*524'Q<Q]/%3--.4L%08&2UG41=7
ME;!&"]'IQT(BY9$PUEHG[0=7)`>J-$L;+06V46`S+0>>!DWJ9@<0/-BC&AR8
MQ<.;')B]`QP=F*5#(D,PRZ$:/3"[@1I%,'AA($<PJT&:?H0+09.$BGD!A!$P
M*=(#<`:ZIQ(10*#_X3`(0LBLFBD)/JD:'11PIA](``[!W($H`0$$&9Q9!(04
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MQ`]/_!L=0ABA`6=&&*&8?O!!A(=O()><\H0VN>2&2_J)8)--QF'H\X$2\6$<
M/'(PO9-WJH<+@A%`N&%@XD^"O<7SRR:1?6#"!M"`AR:`D$`5F*9C_'/@`R$8
MP>$9;R,S:,0]+N&#+5G@<!O<!SS&$0P-W&,<X[C'/@QA@W'PPP+[X`<0O/>P
M'>VC"$XS"1SX@+UJ[.`!%9@`8WQ@"'J,XPW:JL`X[L`#<TAP(/Z[AY;RX;%+
MK,`;+!*'!=(`B6)PP'=,].(7P1A&FU#0'#C8`2>(`8P;9`(2)Q"&#3)!"1.\
M`QB74($Q),*)"5@"&.=``20TD0,T^F$$P"C'"O\`N8-Z10`8P%!*/_P@A$W<
M80(P6.(^#J&#<L3`$)L(`B(4TH]WU*!U#RP',$90B&)P0@>:@`0*^@$.<ACC
M`90`1OH0@8-$`($1)NBB&($93&&"D8+,P,$QA2"/7.(`&O-(Q#&?(8UC`L-N
M0#@F#IPA31P<(AY#N&8QQG%,/QPK!\<D3*_J@(,?^&(1"9&&7LK1`QS<(59%
M&$@C>@?!8ER3"/1X)@ZFT8],",,-URP.$2:%!VS^<I@-=>A#_T9!B$YT9'BC
MZ$4QFE&:2%2C'66H1T$:THYR5*0E50E"3)I2E0J3I"MUZ4MA&M,)RI2F-;7I
M38N'4YWNE*<]94E+?1K_5*$.-:1`)>I1D9I48!I5J4UUZE.!QU2H3I6J5169
M5*V:5:UN%298Y>I7P<I5KX:5K&5UZEC-FE:U^A2M:W7K6V7:5KC.E:XBE6M=
M\9K7B=Y5KWWU:QCY^E?!#I9_@27L81';-\,FEK&-)=EB'1M9R0))HGFH@`4L
MX(*!\4,#-,!1#"Q``0OH!1T3&`*.0,`"'/%#!"HHAP\P6P)IT&$"`<4$'7H@
MC0Q40+3/J`1F+7"(<(@6LYV0B`>`VY26.*D?L'P)"^0!R<M:0`6TLU$,)&(,
MLYP$&H43(#^J$;^3C",^_7"!=\:1`PMTP+HI<L00W##=&H2C)GJ`"TN&48$<
M_XSC&1Y`P32JP0(-S*8'%:`$-&SPR,F*]21NJ`@F-4()#)2`@>0004+X0`$6
M_$L$Q<D$!S9PB"#0@Q^:>`$1'/"&?C2B""]H1C\HL5T*(`D=&GA&"08R#@I(
MQ&/0D!0UF`$->MQC&LRX!TC>`8U]C(,9S#C'/9H\CGU`N1OYZ,"QYJ"??3!B
M!^!@!CVF88XFOT,8,_"&=]`Q9C)U@\G,X)-Y&R&-%(B#'$]B1I7[\0T<]^,#
ML;(#&^@AC?**<@/H\$&]\$&'-]#C&4(FLI'SX0TG0[G)S'@&/=ZP!F:$R,L3
M8@9]^Y$"<+2A#B0P!B5JX`-$3(,#A0!"-2:`CSNT8?_!8)6H@P>R/`\\XQ"(
MZX>%$T*!;KC!B)"``3I(H(D0<V5R)\;#!-[!8A?#>+M2ZL`S,I"(1.`!!>3H
MG`2TO:Z%\"$.)DB!"QRAB1BD@`^)R,`P+$".';!@!3^`Q@-8L`,ZMZ`&Q;AR
M/[)LG!WH8`34`$$>-J""(@B#`S8@!CZ"@((77,\8+QA"?ZIFWA-`(P,Z2(H0
M4E`#/.IY('U>6`\*T0B.B=(#_3CT0`SQ!D2PP`6,4'<*]N`,&Z3`W@]X001,
MP()#O,$#*GC#-'*0`A]0@P&%&`@_J.$#2I!`',%(-2;DP0%+V(`.'4$$K6O-
M8)/@NA^$*X<&?@`#&AP+V/W_&,<#AG""?EJ`&C6P00V^L>R!4(X(CF`#1%K\
MXA@G+B'7G@`;V``$&%0C;!%`_&CZ06X35*,3,0A"(LZAAT2$Q0+/2`$]YM%Y
M%=RC!<60!A`^X(=_!SPN`^]$.0Y.!WE40!@`\,'/<A`T&%5\"(]X!TY@)XT*
M0$(%Q6#`#E*?YSV;'!Z,8(,/P,YREX<MYBB(P0M@,(1#H",/C.C`#A3P#!7T
M`P;&8`8*WN"'>-!,`SMHP#-&D)!J\.`0\Z"ZU0^==4W(P`?C_WK8Q:XD<&T?
M$.$'W$`('`$1=*`2?NW"^H$'W@`2"H$&B,$"\H$.`"`1XB'$A*!#..'$'`$>
M*(`/_P*/V@:"`KSC'3;@Q@:"'G@F=22B`M!!\JJ!&"SO$,;!!W;I'CH/!>3A
M]\2O'V*@&%3`#F1`];!,RQ[!]6`O#[3%`H2A`^!H'[[!#VK`-'CO$5BHB7Q!
M&L8/!HKA`?H`$C;C&T0@'N"A`V+E$AH!'Y@A!!+B'5KNY?+!#MX`!=@`$HAA
M"/J`''B`$4X@$2`!&K[0&*@!_?P`'6AF!!`!$KPA_@;B!2"A0TC`&2XAU1*A
M&EKMU2:@'_X/`+5*HM[@`2R@`DZ@&&J@./9!#O2#'"!Q!+XA179`$RY`E*1!
M'N:!`ZB!!BX+!("A".!"#AR@Q12&$M*F'^Y`M"C`#:K!E_\&X@*&`>QJ,2$0
M@0(<0`Y.H!N*80:,X00J@!/`(0<RX0+0(0AX*PZD806$L!C\8`(:H!`\X%CH
MP`$PBP2&00=\P1Q"(`^JY@*$@08(D1I":P?2AQE@@`@@@1\P8""((02@01UC
MP!B2D4%TI0@H@`+:(!QH@!IDH`(R(!,6H2+DL!]^``)*<06>@1,Z0!V-`04H
M8!.ZP08J8!K240@-,07@`"H201QTH`*,81PZ8B"@P@(00=E$0!B*P00LX!*H
M808F8$`^$12M"K+Z"AXJT8'@H0U<0RJGDBM+8A]^(0\<J!K<`$6\<JJH\BS5
MLK'2<BW=DK#^(2[E<B[ILB[M\BXF\3(O]7(O^;(O_?(O`3,P!7,P";,P#?,P
0$3,Q%7,Q&;,Q'?,O`P(`.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>fs1nov09img3_celsius.gif
<TEXT>
begin 644 fs1nov09img3_celsius.gif
M1TE&.#EA^0'=`/<```````T/!PL+"PT0!Q$5"A<<#1D>#A04%!L;&QL@#QPB
M$"@P%RPU&2XX&C(\'2,C(RHJ*C,S,SL[.SE%(3Y+(R5`82=%:"E$9"A&:"Y(
M9RY(:"Y4>C)+:CA0;S57>C)9?CM4<4%.)494*$U=+$]@+E%B+U1E,%EK,U]S
M-V!T-V)V.&5Z.D-#0TQ,3%145%Q<7$!7=$%9=45<>$A?>TMB?6-C8VMK:W-S
M<WM[>P9SO@MUO0]XOA9UN"Y9@3%<@RUKG#9AB35HE2%SL3%OH`!PP`MVP@YX
MPQ%WP!)ZQ!E^QB%]P$]E@$YSB5!F@%5JA%AMAEIOB%URBF!TC&5XCV5YD&E\
MDFJ`/72,0GB017Z927**>7B.?WRN?A^`N"6#MB2"N2R'MRB%N2Z(L#>,K36+
MLAR`QR2$R"B'RBR)RC.-S#R2SC^3T%N>G$63IT*2JTR6H$N7J4^9K5*:IEZ@
MFVZ`EG""EW.$F7>(G'F*GGV-H6NFC&JEE&NGFW6KBG6KE4*5T$>9TDV;TE*>
MU%RCUFBJV7.PW'NUWH&<2H:B38ZK49"N4Y*P5)N[68^V;(2R?8BS=8FS>(^X
M>9*W:)>Z8)6Y;9JY8)V]:Y.Y=*"^89_`=J/`9J7":JK%<Z[(>;#)?(.#@XN+
MBY.3DYJ:FH.2I8:5J(B7J8N:JY&>KX&QAI6BLIFFM9NHMYZJN:2DI*NKJZ"L
MNJ6QOK.SL[N[NX2ZX(R^XJ>RP*FTP:ZXQ+"ZQK2]R+C/B+G0B[[2DZO,O;?#
MO(_`XYC%Y;?`R[K"S;[&T*3,Z*C.Z:W1Z[/4[+W9[L/6G,C9I,S<JL[=L-+@
MM-3BN=GEO\/#P\O+R\/*T\C.U\G/V,S2VM34U-'6W=+8WMO;V\+=\-7:X-C=
MX]GEP=WHQ]_IRLSB\MS@Y=_CZ-+F]-;H]=OK]>'KSN;NUNCOV.KQW>3DY.+E
MZN7I[.KJZ^#N]^+N^.OM\.[SXN7Q^.[P\NOT^O#UYO'VZ?3X[O/S\_/V^?;Y
M\/7X^_G[]?[^_@```````"'Y!`$``/\`+`````#Y`=T```C_`/L)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/"/^!'$FRI,F3*%.J7,FRI4N%
M(E_*G$FSILV;.'/J#+FSI\^?0(,*'6HR)M&C2),J7<I4I=&'ZJPIQ6<-G\=L
MV9IFM*9.J]>O3)\*5.>J*SY74@F^`&`U(=FL`K.Y<I4QUMRR$5L!H.M0EJR!
MLNYV)1CA0<&W":/Q%2@K5L)8?QNVFSLX)8`6$]NEC3QPLJMV_5Q%DS@9+D)H
M?*VYPG<6[]W5!/WV4]UVH"MH#J/V"XQ[]VW&O_NAQAT--%BM8D,#:-4O&P`<
M!5WA:/>)<T%9`$3%;=$"!ZALGT87_P3%G"$"!#APF%[8ZM-L]0\A&!8(X0`.
M%BXJ]Q,%JF"L[`G5`(![_<3RP`$)(2`!0J!H-U`-$>#PB7$:N4(@0=9\(M4G
MY4&$3WJC04`0/A!*Z)P-$D4#0'\)N0"`0#@`8(T-$$C8#@`U0H#B0/+U\XF,
M!0F`&4/XO'!#+)_<\$!C"-CP0"P&.@EEDT_:4$-MQRF5G"O+-?=<*"Z\T%\H
M+[2`(VXON%#>"Q(`N!N`K;``0`36U!"F+#\>H-TG+A#()W0"*3B0#3C(\D(T
M-H3I6#]ANH```#=`<RBC+]!U0YB68MH/!"+29Y@U$K"@3IC0X&!#-&F^4&!V
MIA889EL"(O\@D`T`(&!-HU2%:<T!$LCB0E6*?B*`G@+A`T`-PN&339BC99-J
MHX?><,-`EX;2#RAI@N+*HS=$TZ@Z;4K@[)@NH!A+F#L>I`X+H8B"PV+]W(BB
M+.H`\,"O^#0*[`N.)>J@<#B^T,ZRL6`[D)DPR@B`JM#<Z()P"$Q+GX@_6I,J
M;@"X<.ZX_8"9;C_J0!!-<?5:J;`-M%H#`,HG1P,!A5DFM667SN&PEBL"D`G`
M?S6T\P("H1S@RL^BN(D=`B\7C0-5UN"`@"L'1*".L+$(\(FPT)B&@`"<0J-@
MT09"\,D!T+``@376R)F-7JZT\``H",CRP-L'R)*--:#4S>E`A0G_M);*/1?V
MWR<0L/"?*!(@X+6&#P)P;"L'`'``TQ%(`,US^'P-@"P21(@`Y!`,9NP!$$"#
MSP,MU/!`-J@+^%_J"%0][0T[Y^QB+/:9617:#[`[8#^7B2*T`#:`LASQ";5R
M0SL2P%POZ<5E_,(#FEF\>L;MU'``Y.6I>(,$(J_8@@`#N9BPRES_E?'$`V5#
M,2A,VX"`<RW\&(V0PN.<;@1#@@RI@"J[`0!7IH["2*T?+(A`S)8R,^;4[&^0
M@N"T(H`C"+@B`K%S4S]:`0$!Q`U`T!C6YGC5#UH]H$;"$D!E$*#`0$5`+P9Z
MX<X>T$*$P?"$;.,4EUR1#0_NI4?LZP<$_Z$CN.44T7'X@$;D.@1`">`@%(G[
MT-;J!@!K1:Z*_=A:UP0U$)=%3F4'."'K8.><%\1(9:IR$:?`I#`<F`\?\A/`
M`[C$G(P9[WXMN*.0^`8!%CT(&JBB$#3J<S):J0-R7SQ6/\PD'P==#A3CLP8"
M(-FI1;ZH'S&Z&R%5]K!-51)XCF-.U1ZE(A?<\3+&.R&R!"(`%HSE`,@:(,M4
M-LN5(1!!"Y290>CH)9NU48+]Z)M`$H<=![5C-,0$T`%\IT17THI"PEI0H*29
M10F`C8;7;*'YV$;#'%KPA]]TQ=X\-9M0!3"83\I.$2,@M`(]@"T"$5`V)+`D
M"5`1BF3#(@*BUO\S+E8S-OV@'1H'`C<7C&9A9UP8HRZY4)7QZ45TE,]_ZE@_
M`*@HCQ;=8T*R<0/WR2)=N$G9RD1:`Y(BD'P$41$DR2>*%T3`-.;#)`"R\9>$
M/BP:32(((S'6)X55%(]W#!)FHO$`5?5C@`(LY,ENF4M=%B1M?7*2H11V@[6H
M@TW6$-[5HB&\M3@(/)]`P">RP8(6J`,'J-L<6J'T@!M\`C)C^Y<_PWJ[;NX,
M;I^`!N1$`<."LL`:)]QAT%PDSDK6YQ/X44?-T#G1(HJB,.")P)7B"8!V?+0?
MB<L&=PZ$'2M*(!2;"^O5P!.[@4A(`@*#T-6R%X&KU<N,"E,5Y*X&#1?_J>Q=
M!P@%5)$&U7JY8)`VV)X>^W>0=OGHK<624`1><"):.:MR"D/6;/,JD,NQH*WE
MG.E`IBL!%[3CM-[%$>$^-IOGS*IP&6T!<"\SR!IPB%J8$9"$F"2E6%!I2O)S
M#`L`U52B)&<VKFC%;_1Z%FM$@SF'S$J`6Z'@`)MF;>596SOPT8H*@Z85HPD,
MA@\,+\@09,'J@,S:NE)AJ4#FD"1NA50:@^(-.K@Q@`DP#_M!X17'(L&-:4<K
MU,%B"W>1.<?T37,J'`L=9T7$K0`-B#<HGGA5N"LZMC`+)&"FM4'#&JV@<&]B
M46("JW@WCE%-*\*<Y=\<F,R3Z0U"L,(8@NCX_S-,/G"\%DQA\7"9P0*9C("M
M,L@;8,DN`C9+H%U<82S1^,N'%G":^\%AX@18S>KXG&(JG&%71"8PE[;T?@X`
ML_X&Y;^>#K5"))=;42<$;#@)A<0D8H-_F?HGH'ZUK&=-ZUKW)-:VSK6N=\UK
MC^"ZU\`.MK"'39!?$_O8R$YVJ(VM[&8[^]E.A;:TITWM3U?[VMC.MDR8K>UN
M>_O;$>$VN,=-[G*+N]SH3O>USZWN=KL[V>Q^M[SGO>MXT_O>^!:UO?/-[WZ#
M9=_^#KC`C_(4"@H```=/.,(7KO"&,_SA#H\XQ"<N\8I3_.(6SSC&-Z[QCB]<
M/PN)QBH'3O*1/`4"CO]+N<I7SO*6N_SE,(^YS&=.\YK;_.8O![E"4%7RGG_D
MY#@/NM"'3O2B&YWF.D^,47W.](P`_>A0C[K4IW[TI".$YTW/ND6>3O6N>_WK
M7[?Z0;"N];*'FR`HEYQN9?&HE;<=['"/N^-R:XT.7DKE0O-:%=L4=+$;A.QF
M#SQ#GNY+]*"N!7):T@T2SYV4\Z\%;>*?G'#$';[S7>Z89WE59811E2/N`#]"
M'.0=1^46I+VL**?RY?U>$,`+_O4'(?Q:',>"3X""3W\5A9*N!@I:10@4K+7]
M0_D:"NP`0(F93W[*G2@A')A)Y2Z(D>/:=34YU0`4MZ=@-D#A@MK?_OFL3^G_
MTF%/_F*CW7&^3+D-QMS8RV"9P?^C:JR**0'BO:"DRL\_`%"KZE9<WG&=)PK"
MXCM5A&$B546RT`JR4#0`$'Y=-'[4I@_Q8`[?\`S,<(',X`NIL(&V(`S"(`W<
ML`_EMQ&REW(EQ3_MUP*M$`$1@')`$PT4E%0?A#@`P"ZA,'GZEWRMH((1$`II
MMWQ%0X.^@SBM=8"A8`,LV'8.*!"NUVSVX`W*P`N=P`F<L`F;H`F8D(66L`4<
MT(4<``)@&`,T(`6D\`K2L`XC6!%/9R4/\%EL:#@KP@((4'MS\R@E)1_'XB0R
M1(,CE8/*=P`&T@H/$`H4Y#B?T`(R!$4U"%HK^`"F_Z(PS^$"<W-%2\AH$#AL
M_'`/Y[`,NK`)C/")H!B*H:@%%5"*IGB*%7`!JB@#>'`+X0`/AI:&"<%U1\*`
M1Q(+TM<N&0,E1?,V7$9!-A`+#$@CDN-\?IA\3C(GL8"#CD,>CD.,$"`@RP$E
M9@):A@@EM-*`#]&$O78/Z?`,R<`)HCB.XU@)I(B*Z(B*%_`$I'`+US`/L@@3
MYS=T-^`*-X`#TMAR!'B,_"AUE<B-N<8/Y]`,O"".Y'B0H6B.Z;B0ZC@#>6`+
MX1"/L3>/0@<!+Y`F,,="_;B14/>/EVAK]]`-4E@)"%F2H*B0#)F2IL@!3S`*
MPA"+:?@4!C8R-%F3-GF3./^9DSJYDSS9DS[YDT`9E$*9DQ`!D+)F#\O@"9YH
MDDS)""BIDE!Y`2#P!+@@@A()<+)HE*'&#_60#$O9E$WYE%`YEA=``[;`#O&(
ME6FHE4TED,KPE6`9EN<XEG19BDW`"MP0DQ(Y$6RY0.FP#`89EW$IEG5)EE$`
M"VA)?FHY@GUY'/S@#)X@F)+IE'-9F'7)`78@#8IY$(\5`9VD$1`2`7[T()TF
M$*#09`N40/T!(>1U01%P3!%`%R3"EQ^92^BP"YHPF9))F)9)EB!@"O`H>/_%
M(:P1+_B@#I6A6,:AG/&"%=FPG`,A`>J`#Z)@+<V1#<=9+,<Y&#;P%X.A6)7H
M$^W_D!]6D5?X(`NKAHNLT0XL`$>RT$(I4IM9@I2YJ9N[69F]69<7(`,O&7C#
M>22XD207.1HBUP(V(!7\HQXW,#X2(#&5U#SQ!`WJ<``M$`L0>H1V$E*-,2TS
MT@*KQA37%PNH>5GQ`@%0,F$U@(NB,'(1T9A-@0ZZ8)^ZR9OY29<<0`H167;#
MZ:']<8B*A1DO4#PU,$%6T2";TC18=B$06D(-XTH(!!HW^)P+8B4$(D`PF10U
M8"2%4BR?P!?M$#%NI2QN)2$=4I3RZ17WX`R!B9!78`*+\(EM:@*BF`@F@`56
M8`(I\(E6D`BB2*,U2I95H)E:-YP=\EZ:)42?P%>C$0%6_]$TE7(MB%,;2UH#
M$NJD%VHMS!-0-[`C>N5>7D&IN[$C-\`9["D0+``:>'(#U>EJ#N&B23$.O0"7
M!WD%(Z``B,`(6#`"*D``HA@"%$`"#E`""<`(=_JF"8F??UJ89CFH!_%>`F&H
M0(J:C+I!H2`>[6`#\`*AK@`_I?JD'8.ISB0+GP0-U`2BN'%9H-H9TG2J^W&#
MZ@`-+-JJ9\H4X_`'7^`(3*D(B=``MZH")<`(!A"*#J``*P"LAY``M*H(Y8BL
MR5J7(%`*P>ES_^6#$(`9H>`8ZK!*+L`I_>$"5G&M$-`\<(2:&RLV>694WK5!
M0/8P>>4S/@(!T^H5+Q"-/G)")O_;,X-4.HP&'?B`6K2Y0,A@!D1`!&'P"$W)
MKXS@KP`;B@9P""<@`A-@``MP`@,0`(?0IPS;L'1Y`520EQ*[$:!P)-)AI$SG
MJD)!#\2`!$,[M'%`DB:)M$H;L*!(`0R@``6`!4FK`"/@`%=[K%J;K%%0#5^K
M$=`@+>X!2$UGMD!!#[.0!&L[M#G`!VY+CH=@`@8P`DG+`":`N8>`MY]8L(R`
M`B:P`G7;MR>9M7]+ETX@J"2WF.6GN#Y!#X:@MH\[M#S0!PB)""F0`BK`"+J;
M`F^*"%D`BL)+K+Z[NPKKMZG[ITXP#"7GNN0'NSNQ#[-;NX]+!I`@HX+II\M+
MES0@#*W_NY?QZ174:[W6&P>4H+U@R;W=.Y8PD`L#![VP)[TX00^_4`3F:[US
M,+GJBY#LV[Y020/.&W#R^WKT:Q/T0`NTF[^/NP.XV[\E^;\`K))-(+C^!FHK
MRA&M4`/79Q!X9A"RT52?T,&S4@,=D@T<+!4H_!?X<"%FVA3`4`8,;+Y?<`D0
M[+^H.\%C*05HV&__59W>`A%C%B"BH%>CV1PP69TB?!NML)JR$`UPX3.`Q%PO
M4+C>DA8M.J\_H0U".\/F.P:6<,/D*,$ZS)`78`?PX,/%I1U%>D+LV@ZFUS.8
MQ2D'@#1GP2E8G*[&=4))@AOP>@-G\ZUP3&,X`+-9\E$WL&,4_Y*I"*19ZE"/
M3CJ^2E$.:>#%#/P&_"O&E%G&?WH!>)#&^09JY/&L#A2M!4*DD`HR=%(0>JP=
MG6(#?EQ:(B(*5@(:*UJ:6B$**QHJ-9`6)-(8+Y,V(RP:/YL4]#`(ELS`/+`'
MF7S#9,S)"\D!K&"5]Q9K1@JM0C0:L8#*1MH.]P@*E='*FS(K?T&BLUQ[?.96
MUOD5Q@7+H=H^TH(`79$A2;*E69P4^S`+R3S#8(`*FGRZT/RG,L"Z]/9?(CK.
MV#PIVQQ,1?HOH*)FH(JDX\RDPK$C(A(*[@H8\^$5S@JJ)+I=+%*=IPJODGP4
MQ"##^\S`9&##__S,`9V.4H#+[?9?ZO]@`Q(P&I_0ABV0%<LB`370%=-ZK>(B
M`9]5&S40LC4`%Z]<SA;=KK=2()UC'4P!"@)0.=_!)LQ50O,D`?##:#<0%2R0
MU?=\%."@!BGMQ7#PSYO\TOEY`::`;Z!6G#XB"G)-8W*-)591UP/!&K71%GU=
M+(#=%A,&%GSMUW=MUR.BG<4\%/1`"&?MQ3G@!RV=PVR=DAH`OP7-$)HFODRH
MQ3B1MH_MQ3S@SV+LTI6-BC3@M?)6P()WP"Q1#F8=VEXL!MGKS)1]V@MY`:1P
MI>;&V2\\%(8@VY:<`V[0"+:-V_D9`P/\;JP=>*ZM$MK@N,+MQ3H@N1!LVLA=
MBA=P!S)-;LW_;7;/C1+[(`C3G<PY0-KJB]W9G8JWL-J^O8V>31/%(-WE+=HL
MK;WJO=Y.T,,S/7;`UQQJ5A(\QA!E>BW8MQX"4>#;51.N\"_;"B^S`<X@<YH"
M`>'R&A3'7-_[[`;W;9_YO=ZKP-S-"B32<1#\A1%X]JX,\4FGH\O+$QT(\4DN
MT<3ST<3\4::@)0OXH*H*NBAC_1/&@-(:3MULT,S;>]OKG8XR`,KJ-IQ\4B#0
M851C5@,"\%F?T%WD2M1M<>68X0I:'AIT<:W;4K'1P"(]*P&N8--<31\CTD)/
M;:'BLDH=)0$$(B(+.$S6I!+8V2D>G2[1<"FRD*G=*>/P#13RX-A#_Y[,/"#9
M,OKAV7T!L.!NA"HJ)=Y"Q`D!K/$".@XR:*-`[<(:LM#+UN#IVE&J*9I$.\*H
MH,$TGV`M+$Y-(M(>K%%#F,X?FU*X5O%2>HT2KWRNZ8*+W2D<??1;W;US\?T2
MQ[#`B>[%7<`%C8[D28Z.3L#DZ$:HFX*+$SW*?#X:U,$"UY7*NS&'8=TQI;X@
M?<[F3-A]$.#J;<XC^\$B-905[=$/194666HW+,'GOIYG$"`+>306JNH"O5S2
M.Y$/Y+WL^[S2'@[MT7Z*'!#I3=ZLS"%`1-0<*CC1"NV@X(Z>!('1U^),?MS4
MIMH5MO[J`H'M34QC\;Y![G$VGZD.]9/OL_^R[S0F+1#@L>TJ*B3]XSL!#OB+
M\/LL!T;.E([^Z'1`[=XM\;T4&D-Z\:%0`ZY0`Z,Q-1S\*?CXU2,\I.]Q?:Y4
MN*.Z(RM:`XUA)9\UT<4"2]=G%;8>3`*QTRR_*>T`"HYQ]:AI$AL,2ZU0N$.*
M&UU=0G^1#3A@#;%@`Y%"\#H1W$"_SSFP!S/*\`UOBB``ONE&TZLNH=65#>I@
M'%F#G6,!#8@+X%/O^>*1#::3%@:F+`/A^:`1#9[?%77O^0V39X-A^A_K^O'B
M^EFS$J3O^5EA#5<F$%C,^:C/:%C\V]/;Q8F?S%V`WH/I^(^?BJ;`V]KVW647
MWB-!##^?_,FL\$?__OR6Z02JG?3OW1#6_Q'[@,S:K_AND+[-[_V%>0&2W]OC
MSQ#E[Q'@@/SI;\DZ,`>3T/[N7Y<`,0I?/X(%#1Y$F%#A0H8-'3Z$&/'@/XD5
M+5[$F%'C1HX$H[WH&/(@,"1$3)Y$F5+E2I8M4?)`Q4CF3)HU*VFID%/G3IX]
M??X$&E1HA1CL1!Y%FK0A1:5-G3Z%*O%CU(O["+G$FE5KRBZ9:GZ=>7/H6+)E
MR0JCFE;MTK5MW;Z5"A(NPW%JMM[%NW*,);!?Q9H%'-BLG;F%GS(UG%AQU*F+
M#1HKDU=R7AUL*O6E^5?P9LX]03@&K1%Q:-*E*S8./6ORZKL\_%S&S$AS_V?:
MFR]L,YV;K6[>O0VB=OQN$&OB6;TXBBT;9VWF@2_`\AV]WVCIU1T#7PP.37'N
M+<=(BCV[^?BAA*WKIGY>/5SLBI$5Z1Y?I9SPR\G?#]IDX'K2Z?G_IZJ]Q("1
MKT"47NM+//P6U"F&:@`$S3\()TQ*P,+V*<1`#6%*T#X&/ZR`@UHH5$Q"$D_<
MR,*YZ`E$0PW'>`0L!4&\3P-34"S,1!QWC"LT>LQPT<`<Y*#$+P]I7#`/'M_2
M<4DG%U(1KG*"U#"'/6`+ZT@D[ZMBOR>I:O)+,3V2R[%CJ-RP#YNTW'*\*,09
M,ZHPXWPRRK<(1-/`+R[)C,TVF6OB&CH/&[30@O_L=(N6/#6$@R^99ORS-AFD
M,52I.2M%$=&V,CSI&$5-.D:;JTX21)LTC-!&&T&(*`+/18FH##9((^T,A%PP
M1>I27"G4=*U1B2#&C$!4.\8,)(PX20V2CCE#FT((0>(89%\UB0<]'O635LXZ
MN'77D'3U%L!>U0(DI4((U":0/X`T:0UC_M!N'%H(06:0-*@]"8R89M56,`V@
M"Y<C<`->;]RT[CTIB7=6U0888UPU`QA@Y(D8&$/((48;?$]RXQ)^^P5,@Q$)
M%HUD)PVFZ@R49FF1"&V0^,/5DY`I20U#RD%#XXU-DN-CD,NZX!63,QIX:.E0
MCDIEDX#91U0BTD`&&"#_24(#&62N0H.6,I`!1^>==?`CVY\!4\7HBXHVNS>D
MH=K.)".0.-8DN-TV*8F26(7O[;MW)H(')L9FKNRT)4)[\-S6?@IAOKLK8@C`
M`S<\HL(C)PUQI_Y8O+LC@G@<<LH=FOSSZ\I<#//,B4/B!PLZIRUHT7=[O6#2
M%3/]],F.4)UUVD2,?:'0>R_,\J96M5VR(CC7?7=<@$_H=^;?$EZI7XO?2@?D
MDZ^UV^<+<G[[M:)/2C7JM^+A>NPY`P$M[PGJ?OT`9T^,F/&U*A^#\VFC@5+W
MVW<?*O"10L;\L+*YU=VO,T[@1O_XUS^G_.\HY!!@2\IGP-I0`1X*9"!O'"@2
M_WGL+8(GF2`%:8,'!BXP@Q6"GV'HH;@/]LU\(A3,!6Z$P1.:9H,AL4H+J_5"
M&`:F`[8H80UMF$+#?.J#(>PA^O2W/R&6YH8A><\1>9A$P-#`*#1L(FB>V!'M
M1!")5-P,%3)HPBQR9(L<*4?+QL<#(("Q,Q<0'!;+J)@S;@1#\V.C&]_XH"#.
M<3%UW`A)J)='/6XK'V/TXQ^):!APL'!QA*0@!SAP@9QP(`,\N8`D,SG)"EQ`
M`SX1(R(3F1A`:B0?PSD=)`T8A6I4HPH58.4J0*`3$*RB&M)P`CS@(84+V,$4
M/A&:*$<9O$46T8,;X\$'>LB-G:2B`GD8A4Z@F9,GV/_B%5+PI4\XD$!A#I,]
MQ2R,-MBU,Q[T((GL>,4KGI"3&$@CFCG)0S5>H0H$;D,*ZWB%'7K2I1.2T9L]
M*LT^:H<O'OB`DCU<1Q1>D8><1&$8LX3G*Z*P#@Y$(0JVF,<H;(%)(/;SGW,I
MY4;$1U!E4O$:'!@%'H@BC1A0D@,5P,,H.'"-3IZ""N*0PD9W,@-LU-"?'WU(
M2#7RCB00U`-NY$`UWCF,5KX2%SD9135>6@4Z5$`8U?CE3O(P#Y\"%7K@-`PJ
M%Z4$'Q2R.1SHJ$>]VA:A:N1,B_JB63NS!#ZJ=:UJ:6M&Y.'(#06A@')]XRB:
M^-.[*B2O&9%97_\*6,[(0%#_0B1L81%R6(R,HVU]92QSS`-9R::%LE4Q!'P,
M%-?,"F:F68QL9P\%UL0T<K13+"U@-LM9U?J/M8F9Q;2Z0]K8`B:I94QM;3^+
MD7+P=36\[:U9\N"EA'`#!,]]KF#[(0$(0"`4&Y'%`R"`@'881!TV0,@-HF&=
MX*IVN!@AAFB)H\KD!H8&N&'(-GAB'@@4)!O0@$8V"&(-:Q#DOO@%<'_[D8V!
MQ`('_:C!`_JA#OSBH[__[6\-H-$/`#/7-.7M['FK8I?UPK:]8^$`*QPBWYW0
M5Q2BB(8+5.R"?LC"!C:013]6_(`$NT#!UKB!.OH1BQL0I+Z@8$$-LM$"!+?@
M!426_[`H6@`!(?<&PY+5\$5HQAKV?AAH5%C'B.?K8U"`(L79L`:+7?""%XC9
M&MEXP`T>8`U0B.(3K2"(@7W<CS8/&,G14`<+$/P"4:CC$S?0+V^>7-@H6^2.
MDV'C8JU<%EL]A,0ZH6]!7,!?,8M"%OV=M#4D(`M9X",;+GASG'ML`P6#`LY#
M1G!^D0P*D`QYPH*NK6VK0XZ!DJ^-BW;.;.,K25Z3L!\1J&XH7@#F&O2C'4ON
M<0WZ*XKJ(@`?K<#!?F*!``@<0+^F7C"+;8!G;4?#&LU^-7IB_91"2WF<]+LU
MKJMXP;18@P7X=0$^1''=,0WZKN4V=&YMK>[`@&")5%%'#?\$KHYVT+O>XV[@
M;4'S#C6V)`<%Y;=OXYA(>Z\5WQ?11F1<PH.C1GPP[!YEQ;UZ\8L<0[TJ2:;'
MS?($^`Y3Y$`E^44$B?*.JWPL,AC&1U_^T9A;)!^T.&;*;3X6$-P"J#O_9\\M
M(H]"Z%8(-1]Z4#@03)TCO"E*MXAP3"*$#41]*!Q(A85=;G6E8'WI?WBZUX4B
M0ZYZ%>G>-+M%RD&%@ZK=)QH@A=@[8HUH!#HC^(A&X"TL8.]VE[QD1R&%N%&%
M3]J=)QH8A>$S0@]@$*/RP-!&BVU@9(BH8[P(R08"7O"``QND]`:I\^$1?Y2X
M7R0<=FB\XT-T"KU7!!PI&82,L]'_CECTHQ4W``5!?G\#.`^_!1)@,_'M2^1I
M._@&.0X^-)[_"3J+HA\X>/[G8;UZD;3^(NS(0]W5W@%6U-[VN._'1\`K8U&T
M@OHN"(4HQ!P*`[M`'1"(A?91_>L=NR`6[?BQ&XB%4A.%&Q"%"(@%'7,R[NL^
MA8L.?#`%\1NZ&+B%?0B)VT.)W,,'=7`Q&:,T#PPS#^P'5SBP^RLV_R*R7\,'
M'INS.OLQ!'"%$7P`.%M`!NP([\L(56BIH;L`)_@WCL#`D\@]%W`%$I0Q5Y`S
M(G0%,QO!&F@':UA"^Y*`:&@!!6/!?O@QZ\M""8L&`_2-MQLF',P(88@""<0U
M#:"#QQ*)_W(8A#9L0V#H!V$K/14K/6%[@>L*!1V+AAJ(!ARXPX)HAQH@,_V*
MAAB\OAV;L`.3A0FS`3(+-W&S03-R0.O@!IF*N!A(!<E;BTE+&S`<)3'4"'BP
MA0[`M1X4!O/S'U3<%4],)%#<"&IP`C/,K`S`@RPC.U;T(U?<"'QX!1J0Q4+B
M@"8PNM7#Q3G218[`ACR`*+FZ`!HX!5LDQDB41#K!!UR@@MAS(Q"(*@MDP&(L
MHV,,B76PA2?XQ?NY@"D8!E6,-6_,(G`4"7C`A28H1];A@"J0!I"+1'9L(G<\
MBGP(!BH`@7GLEPN(@3SH*6DT"'T4(GY$"GP0ACQH@I=Z'!"``O]3J"N$Y!Z,
MS`B&5`ILL`4\\,5^X0`G*(5<"`>-1`B%K"&.;(IYP(9;L(,8:)-F+`5AX(9#
M4@Q[V(6=W,EF((@:`*]6>$2EN`'S:X?3.[(6Z#W3T\1^L`:#(Q24M`B6?`I\
M8(=J4(4IF"2!-(L+($@[@(5M:`><=(QTJ`E>((@'B(#K,T2#T#."V(^!\)*Y
M3(AL.$&_B\M^&(@\*X@'R(9/0(#QV@\%E$L*.T%U+!FI/(U)K)1]D*=1F`(:
MB`$0D"0-*,=-`H$8D`$:J()1P`5H-`VSI`FTQ$)K>`$<B,'Z0DT7$(`><P$(
M<`%9B(`($`!C^X39E+<("`5/([(7B`;_V@P^"<`'?+C-",B&V3P`:.#+.>L'
M&&L'`8@`5V`!!CL`VF2P&E`'ZF),R5',Q00>;I`&6TB%5!@%.S!/*9"".C!/
M.QB%5&"%7*B&*XH.T9P)TH0`=;B!%DA-ML1"@N!$=6B%5D"`$2R]XVR%*40U
M/E2'%(R`%>PQO0S0=UO._FQ.:&@'"2`(%F@':"@V#84&%O!#2W,*E3PAJ@P-
M=L#'_Z!/F;!/WP.`_41-"N5$Z03,'2M0"/B$3V@'5//-_1-.67A0=7B`VU3.
MM^Q/:(@`66B'MYQ.:`"O)HT`',@&4,#0IB#1##+1)EI11FC15GC1?A"`)8M!
M`0B^&7T`UERP_T]H@1;`AU!H`1?(AFPX@!8(3'4X`.MKT'90TQ:0TRHLTH)`
M@"6S@7:XT`S=T`Z]3FO8O+6TTNX$*$=M"GN05$G5!X+0,4\;B#@EL`'3,<+4
M5(+84?WRM$#3U$SM+@6TAS@=,%5=,/N*4\-3P$L]U7[@AU/-!@6T%$B%B"S5
M51RY4@;BU5X]D5_MGV`55@HA5O<QUF.%D&1=GV5EUO]P5N^!UFA=CVG=GFJU
MUO/`UN?1UFVMCFYEGF\%U^@05^`AUW*M075-O^UD5R9ZUW1]UPN;5WF=U_ZH
M5W>]U^<YU][9PWWUIGX%V($-5X(U6-0ZV(2U*X5EV.T1V(:%6,/P#__`K"[L
M)`@`2$$;$P#\&S``>-`P+0@!T%`;J*X7"#@`Z*Y0"`4)R(;MHK9V<(7J@@#\
M.H#J,LZ"P(>-K2Y<70AU&`@6>XCZZH?1JRX<,#Q9@$IL2XA6:$O[BD/K2PB5
M-;8JS0;J&E1`O`%HH+;JHD&+$-J%($Z.9;;=E`4(,-KC-%D<6,J(Y9&)I4$C
ME(47N`$!VS_?.TW].H!M:S$78('X(P@7LP$6B$&5U=`XO*Y"]3$.A<LJU4M&
M_5NG5(=8<(57BX48P[X5=$JF73!7:(6];`4=$UI.[(<WDX4$#+Q6Z+TVBS&G
MY%S_R@99<(75[8<'0-I06-UL:`7#DUK$G<[_%EM;40B^K^73=F@%`9O<.(LQ
M*&3:XL5"H8RSWK.&SDV_U`S!%_BVT6V%!F7!!F7;MDV(4+/1_C1".RN(+,1"
M()TN=TL]%Y.P^E)9"4C9PV7<F8U2',`!%)LP?$``^R6PM13`(?T$:'"_3R!!
MDX4`:\C13P@%5Y"`3S@P!#9:H;5>@G@SZS*P%["!-P.%%J"^O\Q1@F@S"<"!
M3UA*!&@%-_T$4,B&$8XVPS6VMX0VM36(>:/0?N#3!)[2'!7@'"W@3S@`!_ZV
M'(5='OX$%Y`\5_B$ZHV&'VL%41CA&./>[O75[WW;`XL`%Y"`!ZW;`WA-+?0S
M^,LSO]4\&X`&)";<__B=VO+]T"(D0740U0<H0I_UWUBH+_<;WCY,3??S,20^
M4A=`@.L50>Q=2Q[KT18`!0`8KR\.M!!N!_3MSU!PPID]TP-`8\3=,5<`A=\-
MWH)H`6O@X@>@XU5M`19@@=.$T9@=P2(F95!K2TSFS:&]WC>[`5<(!3B+8BD>
M5BHF"!(40/XB8?*5,6_+!ANXWD/&L[Z%6B"5L"6-/_AUX255XQ.T9'Q@7'R8
MXSHN8C"[@1B%`#[&0CZ&`+NTADZ6X,^K8`(M9%!0TX%X0C:MOA]=/_?5PKCE
M+X+8W2IUPGZ@88(`WAHF9_["A_J*!?F+!6M0!QE6351V/_\S:`+^6Z,=,/\6
M\TTFUMX>NV5<1M:$8+;J`B\<$#!1Z+WO(H@7V`^/3D%0+;9/J-C1':\E=H5\
M;MWTD]EVB`;JT\L7:%U\()UOFUGFL[XW)0@;^+0XK*X6NRXB*]MP3L$;D-GK
M8C%H``6/_BZ0EC%HJ"X!8UJ2AFJ4UEPB:P4(T#Z5QM#690&S1;#NZN>RKJX)
M^S:H-6L;9C';E;$XE`5D(PB@IK^_E=D6X]C["[Y?6[^+QNAFA519T-'*6;_!
MSNC"]CO'<`6>56P`>=C(INQOJ>S+QI3)QNS-K@C-YNS/!AW0%NTE\>S1-FWN
M^8?45NW59NW6=NW7ANW8ENW9INW:MNW;QNW<UNT5W>;MWO;MWP;NX!;NX2;N
(XC9NV`X(`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>fs1nov09img4_celsius.jpg
<TEXT>
begin 644 fs1nov09img4_celsius.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`!
M````/@```!L!!0`!````1@```"@!`P`!`````P```#$!`@`0````3@``````
M``"CDP``Z`,``*.3``#H`P``4&%I;G0N3D54('8U+C`P`/_;`$,``@$!`0$!
M`@$!`0("`@("!`,"`@("!00$`P0&!08&!@4&!@8'"0@&!PD'!@8("P@)"@H*
M"@H&"`L,"PH,"0H*"O_;`$,!`@("`@("!0,#!0H'!@<*"@H*"@H*"@H*"@H*
M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"O_``!$(`0L!
MF`,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_
MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C
M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-C<X.3I#1$5&1TA)2E-45597
M6%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ
MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X
M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($
M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B
M<M$*%B0TX27Q%Q@9&B8G*"DJ-38W.#DZ0T1%1D=(24I35%565UA96F-D969G
M:&EJ<W1U=G=X>7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X
MN;K"P\3%QL?(R<K2T]35UM?8V=KBX^3EYN?HZ>KR\_3U]O?X^?K_V@`,`P$`
M`A$#$0`_`/W<HJC_`,)%IO\`=NO_```F_P#B*/\`A(M-_NW7_@!-_P#$5Y/)
M/LS,O451_P"$BTW^[=?^`$W_`,11_P`)%IO]VZ_\`)O_`(BCDGV8%ZBJ/_"1
M:;_=NO\`P`F_^(H_X2+3?[MU_P"`$W_Q%')/LP+U%4?^$BTW^[=?^`$W_P`1
M1_PD6F_W;K_P`F_^(HY)]F!>HJC_`,)%IO\`=NO_```F_P#B*/\`A(M-_NW7
M_@!-_P#$4<D^S`NL<`GT%?F3^SC_`,%P/BW\0/B=X:MOB%_PK34M$U/QCXRT
MOQ?X8\(V5VNN>#=*T1)GCUF[=KV=7@E\I5*M!!EI5".Q(4_I2?$.F$8*W7_@
M!-_\17E_P*_9>_9V_9X^#NK_``&^'_A?4'\,:]JFJ7^JV&J1W%SY\NH2O+=*
M69<[&9VPO8'`HC"K&<I6O[KLNG-=6OY6O?KVL]5?N.'*UU6O96EMYW<6EMIK
MIH_EZR_X.*?V.-1^%WBSXI:;X(\47T/ACPOI'B&/3=)O=+O;F_L-0U.'3HB%
M@NV%O,DL\;/;W!BE56'RYXKUOP1_P4Z@^(GCI/A7X9_9&^)?_"4V/AB'Q#XN
M\/WW]F6\_ARPGN98;9[@O=A'>5(6G6.)G81E20"<4V^_X)B_LIZO\";O]F+7
M/$'Q'O\`P!/8V5E9^%;OQ%>/:Z;;VE]!>P1VXV;D"2V\0!)8A%V9P:[/QY^Q
MQ\`_&_Q=3XYVFH^,?#OB:3P_;:'JNH>%]2N[(ZMIT$ADAM[H*A$BJS-@C#8=
MAG!K;DATB]WOVL[7MYVO;L[/H0[N#[__`+.W_D]K]XWN?/L'_!PY^Q7?-XDG
MT?0M?O[;1/"_B+7-/>QO=-EGU.'169;I/LRW1GM'8(S1"Z2(2*-P."*Q?BQ_
MP73U%M'T>#X"_LQZX^O?\+2\%^'M?T;Q?+:1M_9WB"W6ZMI[=H;S;YKQ,`N]
MMJ.#Y@`YKW`_\$TOV4X_AUXE^"NGZKX_L_`?BFTU>WOO`MIKUXFE0)J1D-UY
M,6S,>6ED=1N(1G)4"J6N_P#!*O\`8BUY=4DET#Q7;76J:CX8U`ZA9ZG>1SVM
MUH%NEOIDT+;?D9(T`;@AR22.:=*--3BYQ;2Y+^=I7E]\=.WH6^6TK?W[?-)0
M^[WF^M[;H]`_::_;:\+_`+-&L^!/`=]\,_$/B3QC\1+FZB\/^$M":U$^+:T>
MZN9))IYHX$2.-""=_P`S$!<YKY^^#/\`P4O^(?[7G_!03X;?#;X$6>HV/PHU
MOX//XRU*:6RL1<W5PU[-:&&X\YVDB2&2%HR(1O:3G)CYKZ)_:!_99^!O[2D?
MA2]^(+^)(-:\$W4EQX9\4Z--<6NI6;RV[6\V)E3D2Q.RNI!!SG`(%9OP3_8B
M_91_9X^(6A?$OX2>"]2TK4?#G@%/!VEHAN7A73%N7NB&1E.^5II'=I3\S%CF
MHIPM-2E'9OITY))?^3.+U[-WZ$3UI-1W:7W\R;_\ENE;OMU//O'_`.V?^TO\
M0?VF_C'^S[^RWIG@73(_@?X0L=2UW4?'6G7EZVO:E>6TEU!90K;7-O\`8H5B
MC`>Y;[0=TG$.$^?YTT+_`(+T^)+GXSZ9\6M3^%FM3_""]_9ITKQ]K&@:1;VD
MU]H=U/K-Q97-P\\KQ&:&-8U^1/F8*65,G%?8_P`;?V)_V?/CAX^UGXFZAJ7C
M3PWK7B;PT-`\5WO@W5+O36US3ANV0W7EI\Y0.ZK(-LBJY`;&,</\5/\`@DO^
MP?\`%GQ!9ZOJG@[Q)I-E:>!M/\'2>'_#U_=6>G7>AV=VUW#8S0HGSQ^<Q+<@
ML."33I1Y8QYHZ^G7EJ)OS3;@TNG*[.^LM)^S=TO+UWIMKUTGK_>2::=HX5I_
MP72_8SU/]HF']G[17U.]>X\7MX8AUFVNK)M^IBS%UL6R\_[:T)!$8G$'E&3Y
M=V0:S?"__!>K]DCQ)^SU+^TE)H][9:-+X@L=$TK3[OQ)HXOYKV[N)((DN8!>
M%M,&8G=FO/)55!)/!Q[%X:_8>_9^\`?$'5_'WPIU[QSX/77]<76=:T#PSJMU
M;:9=Z@(5A^T-;^60&*1Q[@I"L47(.*YK7/\`@F!^QYXQU37O%WQ"B\9^(_%6
MOW.E7#^--8U6Z?5;&339#+9-:S)&H@\J0EAA>23G-"A'2\7TOWZ7MTOO;96M
M>[NGGK_7?6U_*UK^=[6OIUO[-'_!0;X,_M3_`+,/B7]J/X>VE['I/A*XU:VU
MNREGMYWBGT]6:94EMI)(9U*J&1XW96#`@U\U^(?^"C'[7/PE_8L^`GQX\;ZI
MX5;Q'\=_'=M#<M>^#[O4;;PSI=]!-<V\,5K83PSWLD4:1J6WAG+,<#@#[*\"
M_#'P;X-^'VI_#C5/$WBKQ19:P;C^TI_%LL][-,DR;'B+&,`1[>`@``R?4UX7
MX!_X)L_#RR_9N^'_`.SA\7?B[XG\0V_PE\4'5/AKXAT6PN-*U#2X8A(EI#*X
M:47#PQ2M'YF%#@*=@(J5!\[?+I>GWV3_`'B_[>TMY)JZOJ_L_P#@?XK]V_D]
M^[:=G;3YA\3_`/!P#\9OAMX4_9S\=_$/X1>$DT?XB>*O%.F_%:[M$NUDT2RT
MB[MK<WL,+R^9:G;<>;+!<"22-5P<$55\)_\`!=7]KGXJ_LC>.?VH?!OPO\!>
M'CX;^/\`I?@G2-'U_0K^Z>YT?4OL?V6ZF,=]"8[A4NUD8#*L,(`A^:OK_P`+
M_P#!,']AOPQK/A+7W^'VK:M=>$;SQ#=P-KSW%ZFISZV(QJ4E\DJ%;HRB)!AA
MM`&`,<5G_$'_`()4_L7_`!$\.>*?"-Y;>,],TWQE\18/&^OVFBZI<VZ3:O!'
M`D$B@1G9'']GB98UPH*YYSBM::@E^\BWM_Z7!M=/L*26V]K:JSDXZ<J[_E4Y
M?G[T+[_"NSO[=\;OB9\7?@]\-K/Q;X.^!]_\3-1MWC77-*\+WD%C<M'Y9,D]
MK#=2[9#O`Q`9@V&^^Q7G#_9&_;A_9W_;?\,:[XC_`&?_`!;-?2>%]<FT;Q/I
M=_826UUI.H1,5>WGC<<,"#T)&.]<U^V9^S/JW[5?PST3X06WCK2XO#UI*7\1
M:?XP\*:QJ*ZX%C5(DF^P:EIY:/\`UC2))YBR,4.%V'=TO[-GP[\7?!?PA<?#
MWQ-J'@"+088D30-'^&7PHO/#5O8`ES-NC:^NU?<60C8(]I#$[]PVXNG+EG=7
M?3IV\MM]+7N[WMH0EI&WS_KOMK?Y7U/GKQ#_`,%%/VD/V=_VB9_@[^T'!X!\
M56ME\+->\4:V_A+P[J6@/IMYIT*3K9VTNHW4RZNDB%E,ENB&+`=U4?*:?[)?
M_!0C]J/X]_%?P/\``3XKR^#=)OOC'^SDGQ*\':]X0\/W$;^'9I)(D^R7$=W=
MW"7NU9XW$@\D$QLI3Y@5]FT3]@C]FZ+QUI?Q$^(FI^-_'VHZ%X<OM#T$^/=5
MNM233K*\C6*Z6-6C&6EB01L[[F*YYYS5#X*_\$_?@5^S-?OXT^!.N^(X_%>G
M?#X>#O!FL>,1=:Q!X=TM7\R.W@MSY68A($8KO#,(U!<`52BE"THMZ/96_P"?
MMK=G[U+6^G*]7K?23O)N.EVM]O\`EW?OII4TMKS+316I_LQ_M=_$_P"+G_!.
MWQ/\:/B1<0:1X]\"6GB31O%6H:9IB7$/]K:,]Q!+=P6[NBNKM`)1$75<MLW`
M#->+?";_`(+K_#+0?AWX1TGXG^"?'7BO4_\`A!/!>M^*_'%IX?T_3K4)XAE6
MWMIWM%O9#$?.90\,;2[0Q*EPI-?2O[-G[)7PV^`7[((_9+U7Q!JOB*#4].U!
M/&'B"73)K>XUN]U!I7O[LA0WE-+)-(0-S%`5&YL9/GMO_P`$B/V";7P_+X8A
M\(^*!:3>&O"^@NIU.\S]C\/SK/IJYV_>6107;JXX-:1C%5WSJ\;PO9=N;GMM
M9-M66FF^R)2@Z5E=.\K>2<H\M][M14M[Z^K.Q_:E_;"\<?`S]KS]G?\`9[\+
M^&])O-)^,.MZW9ZY?7RRFXLX[.Q6YC:#:ZJ"S'#;U;CI@\UC?L5_MR_%3]I;
MX%?&3XJ:W\+K"[U;X<?%'Q9X9T+0/#SR1-JT.E3,ENK-*TF)I<`,P&W)X7M7
MHG[0W[-?P9_:4O/!^M^-+CQ)INL^`=:?5/">O^'9;BTO-/G>W>WDVN(R"CQR
M$,K`@X4]JY#P3^P!^SA\./#&E>%?`OB7XCZ3#INJ:[J=Q-IOBK4K>35;[5M_
MVNZO3'M%S+N<M&S#]TP#+@BL8PE[&<6G=\UG;:[BXOY6DOG<IM-P=MK7\[<]
MU\[P^[[_`"#_`()M?\%3O%?[9GQ>M_A9\3/'W@GPSXPC\/W%]XH^"NH_#_6-
M$\3:!,!`\:I/>W3QZC"JRL'F6"#=A71=I./>_P#@HG^U7KW[&W[*>N?&3P/X
M>L=9\5/>V.C^#-%U)G$%_J][=1VUM$_ED.4WR;FVD'8C$'BL"\_8!^`6MZG>
M>)_&'C[XGZWX@G\*7'AW3?%.H^)KT:GHUC.RM,+*XA1&MY'*)NE7Y\+C=@D'
MI/C[^R!^S5^U#X;\#>#/CUX:U3Q/HO@#7;;5]*T?5UGGMKV[@A:*-[V.1"+P
M!7?*R9!+$G-75@I\J2:6E[=N9WLW=WY;6O?7=M+6:;<9.3UWMZV5KVMHY7O:
MVGFSYOTO_@LY?:C^R+X'UV]^$UY=?&KQKI_BBPNO"7A@0FUT35M!AN3J,LKW
MDRJMO&UN'569G994`#$YK"_9Y_X+M>$-*_91T'QC^T=X)\1ZSXQTWX0>$O%_
MBZ^T"PM(K:[.N:FFFQ+`C3+M9)G#NI"J$!VECQ7KMS_P2$_8)M[VZO\`P3X2
M\2^$GF\0ZGK%JGA&[GL(M/DU&S^Q7T%M%'%Y<-O-#@-"J[<@,,$9K/UW_@C'
M^P%KGAO1O"(T7QK9:=I'@[2?"[VUAK5Y&-1TS3+Q;VRBNOD)E,=PJN&X)Q@D
MCBM(J#=YQ?O.+=EMI/F4?*[BEU=M7HAI15EK97MW:YHVOY\BEY)O;=GC?P[_
M`."O'[5H_:ZM_@1>?"NP\6Z-K_[3/BSP/:W$$<%M<V.E:=I:7D$<1,\:O,"6
M9WD#!D!5?GVBOJ7]B;_@I+\(?V[/$'B31OA5X>N[%/#6I7ME=IK&M:<M]YEM
M=/;,TFGQW#7ELC,A9&FB0,I'<XK+D_X)G_L?1>+X/B%HMCXNTK7[3XFW_CVS
MUG3=3NXY[?6+VV%K<LA*$")X1L,9!&.E=G\,/V3O@G\,_CI??M*OJWB[Q'XV
MO="&BIKOBBZGNI+73_.,QMH5$:JB&0[CP2<#GBI48\D(N+TC9OSY(Z^?O)]M
M^:[V:K>])N&FOX<\W;R]QQ^:M9+4]KHJC_PD6F_W;K_P`F_^(H_X2+3?[MU_
MX`3?_$5AR3[,1>HJC_PD6F_W;K_P`F_^(H_X2+3?[MU_X`3?_$4<D^S`O451
M_P"$BTW^[=?^`$W_`,11_P`)%IO]VZ_\`)O_`(BCDGV8%ZBJ/_"1:;_=NO\`
MP`F_^(H_X2+3?[MU_P"`$W_Q%')/LP+U%4?^$BTW^[=?^`$W_P`11_PD6F_W
M;K_P`F_^(HY)]F!)J'_'[IO_`&$XOZT55FUBRO-3TR"`3[CJ49_>6DB#H>[*
M!17=ADU3U+CL=I11170,****`"BBB@`HHHH`****`"B@G`SBDW9Z#OB@!:*8
M\H4X"DTHD#'`_&@!U%%%`'#?M$_M(?!K]E+X6WOQE^/'C.'0O#]BRQRWDL3N
M7E;.R)%0$L[$8`[FO'?%_P#P4C'@#X=Z9\7_`!E^R]XVL/#OBCQ9I/A[P1YU
MS8K?ZU<W\LD<<QMFG`MK?Y8F5Y)`[";[B[<GVSXR>$?B)XW\,GPWX$UCPA;P
MW:R0ZQ;>,O"<VKVMW;NA4Q>5'=VP`.2#N+@@XVU\A_$W_@D)\1_&?A"W\"^`
M?CQX)\!:5;^-M,\4PZ;X4^'VII:VU]932S*UM;S:V\5IYCRDOY2KG8G'RU]/
MDE+AR=-+,)\LG)7?OM<EU>RBM);ZWFFG:T7J<6+EC%?V"Z/M\5G;=[7M=67>
M_0[./_@K[\+=2U;PKX1\*_L^?$?6_$?BC5M;TS_A'-+LK%[G3KK2IHH[M)R;
MH1X`F60,C,I0'G.`:5E_P6O_`&8-;\0ZKX=\(^$_$FM2V5CKUSIR:7-I\L^I
M'2`3=1I;BZ\Z%BJN8S.D:RA#M)XRSX7?\$P_B#\(/&'A+Q[X.^*7@`:OX.EU
MB?3[Z[\!:K*]S/JC(U[/<YUS]](Y1>3C:``!BM;X9?L`_'WX/:W<WGP\_:&\
M(:?H]UJ5]?R>$4\#ZH=*$]WN,["$ZUG:S.[;-Q4,Q(`KU:D."%%J#N[.UW42
M<N:5OLO11Y+?]O)N]F<ZEF?,FUIS+^6_+]ZU?7[UV,#XV_\`!4GPCKVE6,7P
M%U_6],A@\3>"X-3\4IX8M-3M)%UR0&/3]DEW"4E\HAI)!N\H,"`Y^6NBN?\`
M@KW\`+/3K_Q-=^`/%\>@K8^)9_#NNM:VWDZ^^AJS7L5NOG^8C85]AF6-7V'F
MN/\``G_!(K6OAO\`!Q/@7X2^(/P^M]`7X@6GC(HW@35GF?4[:2-X"9#KF3$G
ME(HC^Z%7%6K#_@E!XELM2U">7X@_#RZT^\MM;AM?#]WX!U5[#3/[7&-0:UA_
MMS]RTH+#.3MW-MVY-:SCP-[-TU-VBY6=I)M.,;7:C>_.G9-N*C>RN[BIO,U.
M,IKM?;HY7MKU5K];Z7LD;/B'_@LQ^SCX9\,ZSXHU3P%XOCAT?2/"M_+OM[55
M9=>4M:J9#.$B$8!\UY&5%[,U>J?%3]MSX??"#]CS4_VSO$WAJ^O-`TJP%W/I
M^@ZG8:A-*AF6(".:"X:VDY8'*RD=><\5X?\`"?\`X)9?&WX()K$OPS_:KT?3
M;S6]+TO3;W4QX0U&2X^Q:?&\=K;JSZP0J*DA7IDX&3Q7?WG_``3OLKK]@.Y_
M86BU_P`-PV-\62_OHO#]\+>>-KGSW8Q?VCYWG,V"9/M&"<G;@X''C:7!L:M-
M8>;<?:0YOCNZ=ESZ-*UFG:SDW?[-M;PTLR;_`'R^SY?%;UZOII9>MEAZE_P6
M'_9VT#2[I?%?@_Q#HNMV_CU?":>'];N=/M)'NVLTO1*UQ+="VBA\APQ:252#
M\I&[`JG=?\%G/@'!X'\%_$&T^$'Q`OM.^(EG,G@R33M+MY_[2U:*=87TA2DY
M"766+`N1$R(S+(0IJCJO_!+7Q_J6KZGXGA^+G@:SUG4?&4'BF/6[+P+JJ75C
MJ<5HMHLMNW]MD(I@78R$%6R<BJOQ,_X)2_$SXUM87/QC_:"\.>)[K1[&6'0;
M[5O"FL--I,TDZ3->6I36U\FZW1H!*HRJJ%7`KKITN`^>'/)VTYM9W^#517+M
MS]6[V3WNK8\V;\FB5[:;6OS==?Y;;+OL]3KO@9^W=^T3\6?'GQJ\)K^R3=7#
M_##Q/:Z?IVFVFO6,-U<QR6\,TD<C-<O&]P%D9U"[8V"A2ZL:]._9F_;9^"7[
M4VN>(O`O@>YU+3?%W@UX8_&/@[7K`V^H:-+*N525061N0PW(S*2IP2.:\<3_
M`()O_&E-5\;:G_PT)X8"_$5K63QG:P>%-9@CU*6"..(2L8M=5U9XXPDFU@'5
MF!'->S?LO_L_>*?V=M)_X0BTB^&6G^&(;7;::1X!^'D^C/\`:!L`EEDDU"Y$
MQ**0Q9=[$@E^"#Y>9+AN6&G*@US\L.51YU[RC%3;YKIIR4FDE%ZIN7V3HI/'
M<Z4EI=WO9Z7=DK6UM;6]O)]/$?$G_!77P!JUCXE\.^%/AGXKT:^BN_%VA>&O
M$FKV]F]C<:UHEM)))&4CN'E"MLW(70!@"#@\50^'G_!7;P=X.^$?PDF^._AO
M5-4\0>-?"?AR\U[5?#:V<D-E<:ILBCDFMUF\VWC:9L#*`$?=W8KG_`?_``1L
M^(WA/Q/K?BGQ%^T;X4\22:KKOB/5+*SU;P!J"VVE2ZWE;PP1Q:RH#[#L61MS
M`>]61_P1MUZ&&RLM.^,'A"SM+2PT"TGL[3P;JR17RZ*X?3FG']MYD:,CKD;L
M\@U[BAP!%*FZEU>+;2G?[2DDVKK1I[6<ELEJ85)9JVW"/\]MNKCRM][)/S5W
MZ'L?P]_X*3?"KXD_$C0/@]H?P[\5)XIUGQIK?AV]T.X@MA-I#:4`;F\N<3$"
MW(:,HR%B_FIA>>+_`,0/^"@GPS\#_M4-^R!;^$]0O?%:Z-;:B#/JNG:=!.D[
MND<=N;VYA:ZDRO*0JY&X9[XXWX%_\$]/B7\(_P!N+Q?^W!JOQ5\!ZAK/CG3;
M33M=L[#X<WEHT5K%M,@MY6U641R2F.$N[I)_JEP.M;?[1W[$WQ=_:"^+-CXV
MU3XW^'I?#NB:[::OX?\`"&N>$KZZMK>\MT(CED,.IP"5@[.P^55Y&02,GQ)T
MN%OKL8QG^[]G>3]_2H^B7+=J.RVYK7<EL;.68>RJ.WO7]W;;SUZ[-ZVWM?0\
MY_9X_P""NFJ>/?@EX.\4_$O]GS6)_&GC34-?&C^&_"4MH4N++2FG-Q=![BZ`
MC5%B5"'<,\C?(I7FM?4/^"T7[.B2OJ/AWX;^,]7T*U\)Z)XCU7Q#9VUHD%A8
MZG<_9HF>.6X65FCE!$BHC$8)&[%<_9_\$C?'6D>&M,\,^'?CKX6TM="U75+W
MP]>Z?X.U6.YTI=161;VU@D_MHD6\OFL3&V[!`(((K!OO^"*GC#4/B!)XE;X\
M>#+?P\_A?1=";P-8_#S4(=-EMM+G,]L)<:UYLV9"&8,^&(R<Y.?;=/P_K8B4
MY3Y8MMI)5+6YGHM']CE2UMS*5VTXVPG+-HP:@K[V^'NK?AS?+ETNFW]^6MS#
M>VL=Y;/NCEC#QMZJ1D&I*BL;=K2QAM7\O,42H?)0JF0,?*"3@>@R<>M2U^<.
MU]#V%>VH4444AA1110`4444`%%%%`!1110`4444`%%%%`&7XG_YAW_84A_K1
M1XG_`.8=_P!A2'^M%`&I22.(T+GL*6D?.T[>O;-`'RW_`,%3_P#@K#^SY_P2
MD^!L7Q;^,(;6-4O[Y+;0O!FF7T4>H:F2?G>,/]V-%R6<C:.!U(KRO]L__@X!
M_9Z_8S^`'P3^+6L_!SQ=XL\2?'7PO8:]X3^'WAI8I+^&UN;:&?=*Q./E,RQ@
M(&+N#@8#$?*'_!VI_P`$[/@YK?[-/BS_`(*/ZYJFK7/C'1;+0?#F@Z=YH6RL
MXGU)1+-M`R\CI(4Y.`.@ST\Q_;L_9[^,2>!?^"<O[9?[*WQ(\`CXG^$_@KX3
MTW1O!?C7Q!;V3:ABPM9()H4G95F7?-+&XR",H1GG`!]NVW_!S!^P[/\`\$Y[
MW_@H7+X9\410:?XJ3PQ=>`9(81JB:R\3S+;;M_E[3%'))YF?N(>`?EH_9?\`
M^#DG]EO]I#]G/XS_`!PN_@OXU\*:O\#]"&K^*_!&N1P"]FMBQ13`VX`MO&PJ
MX0JQ&>#FOYZKWQ?KE_\`L1?&SP!\2/#>EZGJ7CS]IK1TL?$<%Z4TW2]5AAU1
M[JYB9>&5DN`@)^7RI2W4"OIW]G#X97/@WXA?MV_L`_M&?M.>"(/&_B#P1I]Q
MJOQ[\5:Q<G2WCCU&P$EM*T:.X,S7\(&%)5X2F"`*`/U=_P""<O\`P<\_LQ_\
M%(_VM?#W[(/PV_9V\>^'M9\16M]/;:KKLUD;:-;6TEN6#"*5FRRQ$#`ZL*_3
M*-BRY-?@'_P2I^*/[9/_``3^_P""I_P+_8&\2?MJZ+\;/AI\1OA5:76FP:!&
M9-/TFV:Q>6V:T=U$@6,0J!(P3S(Y&+QHW`_?R+&S&3^(Z4`.HHHH`;)]WFO"
M-;^+?[0MM^T?XOT7P;H^G:YH'A?3-+>7PE@0WUU'<)*SW-O.3L+AD*B)P%;8
M?G4D5[O)P,Y[]Z\&^''BJWO?^"@_Q+\,6VDW3?9/`'A\W%]M7R4D,MZWE<G<
M6VN&Z8QWSQ0!PG[77[3/ACXJ^`-#^%_PN\=ZYX;\8ZAXWT:&XTN5IM*O+6%K
MM$D-R7,;K;DLL9DB+Y>2,`'->H?\*3_:2\$N7^%_[44]_`ARFE^/="COUP!P
MGGP-#*/=CN-<]^T5^S?\3/C[^U'X&U#5!;1_#GP[I=U<:M)'>[+FYNV=-MN$
M"Y*-LC8OD;0AQRV1]#@`=!0!X]'\4_VMO!J!/'O[-VE^(XHU'F:CX!\4H9)/
M?[)?)#M^@G<_RIW_``VQ\%]'86_Q,;6_`\O`?_A,="GLHD/H9RIA_'?7K^!Z
M53UR;3K32Y[O5(T-M!`TD^]`P"*,L<?0&AZ("KX7\<^#_'&FKK'@OQ7IVK6K
M<BXTV\2=,8SU0D5K`Y`/J*_'77O"/AV_^$L/QA\#Z7+X;\8_%#XHQSZ?KWA6
M>33;J".^U4R'#0,IPMA&X&<X&.E?1^C77QZ\(A$\&?M5^-X(X3^[M]7NH-20
M_P"\;B-G;\6KZ./#./JP4H-.Z3L[K=7ML>.\ZPL)-23W:^X^^Z*^*]*_:<_;
M8\,A=GC/P+XGC7_EEK?AZXL)9/\`MM;3.J_]^3]*Z32_^"@_QKTA4B\<_LF&
M[.?WMUX0\;V]S&!ZA+N.VD/TQ^-<E;(,WH[TF_2S_(Z(9K@*FTTO6Z_,^L**
M^;+'_@IC\+(B_P#PF/PC^(^@A.LEUX7-RGX&U>7-=#IG_!1O]C:_$27_`,;+
M72I9>!!K5C<6;@^_FQC;^->?4PF*I/WZ;7JF=<:]&?PR3^:/<J*X/PQ^U#^S
M;XRF6U\+?M`>#+^8@8M[;Q+:M+^*"3</RKN89X+B)9H)D=&&5=&!!'J"*YWI
MN:[CZ*3<OJ*-R^HH`6BC(QG/%`(/0T70!11D#J:"0!DGCUH`**:DL<B"2.16
M5ONLIR#3@0>AH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BO'/V@OC
M%\;?#GCC0_AC^SOX+TG7O$,]I)K&L66LWC0(--BE2-D20$".65Y-J.V5&QLJ
M<52M_'_[2GPD\1>'M3^/.K>%]1T;Q5KD>EW$&@V<L(T*XF#?9MLLA)N(V8+&
MQ=4;>X(X(6@#W"BF0<Q_>)YZDYI]`&7XG_YAW_84A_K11XG_`.8=_P!A2'^M
M%`&I3?-3K3J^.O\`@J+_`,%$OB/^P=X@^&FD^`O`>C:W'XWU2YMKS^U)I$:W
M6/RN4V=2?,/7TKLP&`Q.9XN.&PZO.5[7=MDV]?1'-B\71P5!UJKM%6O\W8]>
M_;S_`&(_@O\`\%$OV;]3_9=^/+ZH/#>K7UI=W1T>Z$$^^WF6:/#D'`W*,\<B
MO%_VQ_\`@AI^Q+^VW^SI\+_V<OBQ8Z[;VGP@T.VTCP7K^EZB(M1M[.&UBMA%
M))M(D5D@C)!'WER,<Y^8_`/_``7U_:U^(U[I5IX0_9:T+4VO]6N89QIL=]/Y
M%O$4R[>6#@G<>OI52'_@O_\`ME3R6^A#]DK0X-=U+5S:Z=H]TE_'/Y2@%Y'0
MC=@&2,9QC[Q[5]$^!^($VN2-UO[\?/S\F>-_K1E+BG>5G_=?EY>9]'S_`/!O
MG_P3DE_847_@G^?AUJ(\*#7EUT:R-2/]J_VJ$,?VSSR/O^6S)C&W82N*H?LU
M_P#!NE_P3;_9L^"7Q#^!VF>!]8\16'Q0TU+#Q7J7B+4_.O'MHW,D:0R*H\G;
M)B0%>2R*3T%>"^(/^#@/]J[P]:Z]X@U']E?1[31]-G%I87E]!?Q?:IF;"'+J
M!MV)(Y/8;1WK!M/^#D#]HP>&9O$FH_`+P:BS2"#2HHKZY/GR`Y=CS]Q%&">[
M.H'<BX\!\1R5U"/;XX_YBEQ7DL79R?\`X"SZG_X)S_\`!`']@[_@FG\9+OX^
M_!K3/$.L>*I-->QTS4O%&J"Z_LN"3'F+;J%4(6'RER"VW(&-QS]R(_)!]>*_
M(_1?^"_G[97B'0(I_#?[(VCZQJ=V1+#::/!J%P+>UQ_K)=BG:7.-J_W06Z$9
M]0_8D_X+-_'W]H/]I'PI\#/C-\#=#\-_\)7<S164%J]TMY&L<4DC3R),!LC^
M3:,C+$\8`YY\1P;GN&HSJSC&T4V_?BW9*[TOY,UI<2976JQIQ;O)I*\7:[VU
M/TC!!&112)G:,TI.`37RQ[PRX=(XC)(P"KRS$X`'K7P[X/U'XK?`N_\`B=_P
M48T>_P!`U;PGXZ\71W&HZ'J&ER1:G)HML\6GVDEM=*^TDJKS)"Z;6$HPP)S7
MTK^U?XQU32/AE'X$\*S%->\<:I%X=T-D;#1R7`;SI_I#;I/-_P!LL9&<UT-U
M\%/ASK?P>'P+U[P[!>^&6T=-,FTV5<*\"($`XP5(V@@C!!`(((S0!U-G/'+:
MQRJ&4.@(5Q@C(SR*EW+ZUX7%^P\OAX-/\.?VHOBSHEPHVVIN/&#ZE#"F!B/R
M;U9591CJ?F[;L5-#\`OVM[(_8;/]MZZEM-I(EO?`EB]UO)Z;U*IL`Z#9G_:H
M`]M$B$XS7B__``4/^(MU\-?V-?'FLZ1/LU+4-'_L?1P&(9KR^D2S@"XYW;YU
MQ]*B'PH_;@T-!?Z5^U7X8UBXB+!+/7OAX$@F3'R!GMKE)%?U8$CT3M7@/[?W
MC3]JV'P/X.7X\_`_2+'POH'C_3M7\3>+_!OB634+&*V@29E>XMI;>*XB03^0
MVX"1(RN]FPN3MAH1J8B$).R;2_$RK2E"C*25VDSS+XU_#+4+'X$Z9X8\!Z6U
MU>>$-0T:^TT6\@65([&YA>9HNFYVMTGC"D@-YA!ZFN]\(^+-"\>>&;+QEX8O
M/M&GZE;K/:S!2,J?4'D$'((/(((K0AG2>%);>0.CH'C88(8'D$>Q!%>.?`C2
MO$?@OXY>./A;X9\2+>^"-&,5VME>686;2=2O2UT]G#(I_>Q;7,QW*"GGJH)`
M./V&WLJD;+1Z?=M\K'Y^KR@[[K7_`#/9****Z2!<E1\I_`'%-E5)XVCN%#JP
MPRNNX'\Z6BBP&-K'PV^&_B*/R]>^'VAWBGJ+O2(9/YJ?YUA6_P"S?\#M+G:Y
M\-_#JRT1SR9?#<DNF/N]=UHT9S[YS[UVU*IP"3TQ6,\/0J_%%/U2+C4J0^&3
M1\@?%CXD?%[P1^TSXG\$?#S]HGXE:7I>BZ'I'E6B^/;^XC2YE^UO*P\^60DE
M/(&#G`6K&C?M3?MC:$5;3/VN_'38Q@:A<6MR/QWPUR/Q"U0ZU^TG\3]0,.-G
MB:"S#>H@L;9,?@=WYU'G/-?=Y'PQD&)R>E.OA:<G*[NX1O\`$[:V[$5\PQU*
MJU&I)6MU\D>H0?MZ?M[60*6_[4%U,IZ"[\-6#E?Q6-?UK3@_X*0?M^6Y4GXX
MZ-(5`XD\'0D-]<./TQ7CE%=DN!N$9[X./XK\F3_;&9K_`)>L]EU#_@JA^W_9
MZWH&D6WQ(\(2OK7B6RTSR_\`A",L5F?8S*!<C+*,O_P`U]":U\8_VX=8TF[T
M2?\`:+\*K%=6\D#O'\-@&"LI4D'[=UP:_//XI:AJ/ASPH_Q`T0)_:'A.XCUS
M3]_`:6U)E*GV9`R9_P!NOT"T35+?7='M-;M?]5>6D=Q'G^ZZAA^AKX#B/A#(
ML%F*C2H*,'%-6;WN[[OT.^CFV82HINH[W\AO[&_Q<O/V&O"5Y\'/%O@?Q7XE
M\,B>"70]8T%([E+-1;QQSI);O*)8MTBO*%B5T^<XP>#[GH7_``4F_9ZN-:BT
MWQE8^)?"%C=3^59:[XKT1K2PE.TL,R[B(<A3@2["3P.:\8!4`C;VJ&]TW3-5
MMS9ZKI\%S"75O*N(5D7*D,#A@>00"/0X(Z9KY/%<*8*O*4X2<6]MFKG91SS$
M4H*,HII?>?:]E\1_`&H^&['QC8^--+ETG4O+_L_4TOHS!<^80(]DF=K%B0``
M>36LMU`Y(1\XZXK\VM0^`G@+Q=XE3X?^!/@_9>(M;U4236_AJXN732[4,?WE
M[+$-T5JI)YF6/S&+':"QKZ$_8_\`^"<.C?L]>,H/C#XI\;W\OB%K=@WASP_J
MUU!H%E(X*EDMF8?:9`AV">8;B`2%7.!\?F65PRV7)*JI2[)/;S['OX+&SQBY
ME!J/=O\`JY]2!P1N_G2@@]*^?/BE^V-XT/Q1T3X3_LU?"[3?&-Y>ZXEKJ>H:
MGXA-C:V]LK'[5/"4AE,XA"E3PBEV"!F8,![]'*.=W7C(%>2>@2T5DZUX[\'>
M'-8T[P_X@\4:=8WVL7!@TJRN[U(Y;R0*6*1(Q!D8*K'"Y.`36IY@`R5(]J`'
M4444`%%%%`!1103@9H`**;Y@S@`UQ7QY^/'A3]G_`,`S>.O$UE<WS&[M[/3M
M)T]HS=:A=3S)#%!"LC*&8O(O?@9/:@#DOA.LUS^V-\6[^ZF5O)T;PS:VL5RG
M[^.(17LA>,CC[,[R,%SAO.BN<\!*Z[]HOX97'Q@^#&O>`=.O?LFH7=IYFCWO
M>UOHF$MM,#V*3(C9]J\^_8/U;7OB=X!U?]I#QIH\-CK7C_79KJ2P6Z\^73+.
MW)M[:PE<*!OA"R;E4;0\DG4DD^XWUQ;6=K)>7DZ110HSRRR,%5%`R22>@`[T
M`>??L]_M":1\9]&NM,U30[_0?%.A/#:^)_#VK636\MI=O;QS$(&_UD1$BE9%
MR""#7HX.1FOEC5[/P+^T]^T;X2^+W[,V@Z9+-X9U6-_%?Q-CM]L5Y9K%(G]E
MPL`&NBPD#$Y\M,(<N<`?4T8(0`GH.U`&9XG_`.8=_P!A2'^M%'B?_F'?]A2'
M^M%`&I7YQ_\`!;?X;W7QA_:4_9>^&%M(Z?VUXQO[:66-@&CC*VY=QGN%!(^E
M?HY7YT?\%L/BE;_`_P#:/_9K^,M]8SW-KX6U_6M2N[>VP))(8K>%G"YX)V@\
M=Z^DX2=59[#V7Q<M2WK[.5OQ/%X@]G_9<N?X;POZ<\;GSC_P4_\`BU=_L>>,
M(/V*OV5=0N?`_@_P'X$6[U(Z!<M;7.KW]V5B22XFCP[D`EN3RQ)["H_^"4'C
M_P"(GQD_X*+>!=4^+OCV]UNX\&^`[G1XM2U9_-N;JYFA-P\+.?F<1@N-QR0%
M4=ZZK_@J9\`+K]JSQ_HW[6_[,>GR^-?#GB>UL$\60:(@GNM-^PQ2RI%-`N7#
M2&55(QPT8!ZBN:_X)2?`7XM_!S]OGX?ZU\<?#TWAI[_P]JVH1VNI.@FN[VYB
M#R+LSN01QA5^?!XXZU^B0G@7PG.[7MO9SYKVY^:SYKW]Z][[]#XYPQ*XABK/
MV?/&UOAY;Z6Z;6,;XR_\%"OVB?A+_P`%*?&/A'P]\1;[5/`NB>,[NWU[PWXG
MD^TV#67G#[1^[<-Y2HK!(]N.PQ\U>J_MJ?\`!,/X,>*/^"A/PDB\'6EKI/@S
MXD0/+<>&-/41*LL/^D3>5&HQ%$T;%WQ_%@`<\>7?'[_@G9\?_C%^W1XX@'AG
M_A'?!>M_$*?5_%?C[6[B.WLEL/.\Q(8W=OW@"@L0!RY&3A:]#_;._P""EGPA
M\/\`[>GPF^*OA35)]3\%?#&.:SMI-+PS:J;@"&YN(]QP;>.-0%?K(PPO`)I>
M_P"WPW]E6Y_8RY^6VKY/<YK:<SE>W5+R!.*HUOK_`,/M(\O-?;F]ZU^G+OTN
M<%_P5G_:-\5?`C]H&7X!?!?Q#=>"_"?@ZTMDTGPWX1O'L&U6]:-9'O+UX2K-
M"@*JJL27/08!-<!_P3"^*?QB_:+_`."H?PP^)'Q1U>XUS4=)BDL[O6;B,+(T
M26EP(O-;@._S$#.6/'IFN]_X*G_L?>)/V@?CW_PVY^S]%=>./A]XYT>SNC<^
M$(#>W:W*Q"-8A"G*;E53O;A,,#DX!Y/_`()L_"OXU?#S_@IG\)_#_P`0_AI=
M^&+:W:YO;?0Y`,V<4EK.JR3\DB9\<[_G/H!Q7?AY8!<*2Y''VOL9\U[<U^1\
MZ?VKWWO_`)(Y:RQ7]O+FOR>TC:U^6W,N5]K6V/W@CQL&*'.$)]J$&%&*\W_:
M]\37WA/]F/QQKVEW<D%Q#X=N5AN(92C0LRE=^X?=VYSGMBOPD_53#^'*#X\?
M'&7XW!!/X5\+6]UI'@YY>//OA,\-]>HO]SY/(1SRP$A'RL"?9`H7I7/_``JT
M71/#GPYT'0_#R6RV5GI%O%;?9`HC*B,#*A>,'KQZUT&Y?[P_.@!:*`0>AHH`
M;(VQ<X[U\=_ME?'0_'CQ3?\`[+'@A;@^&])NU3XCZS&0L-XX59!HT9SN8MN0
MSD#`3]WG+L!]A76!"2Q``Y)/:OSC^$IL]6\2?$+XA>'<VN@^)OB-JEWX>TJ-
MB8;6WCE^SR2)DG!GGBGN&P=I\X$`9->[P[@Z6,S)*HKJ*O\`=:QY>;XB>'PC
M<'9MV_X8[1%2':L,2(J`!$10%4=@`.,5X+K/AGXD?L^?%:P\4Z?\08KKPOXR
M^)*KJ=C<Z>!*IO83'NN+@DEA')%#%`!@`/M.217O5<U\8?AGI'Q>^&VJ_#[6
MD95O;<FSNHY6CDM+M#OM[E&0AE>*54D5A@@J*_2Z]/GBFMUL?'4Y<KL]GN=*
M1@[3V)!HKQSPMJG[=.C>&+&#6_AI\.]1N+*Q1;L-XUNUNKYE`7&[[$8DD8J6
M+%MOS@9!!-=5^Q-\&/V@_P!K_6OB/=?&GXH7G@#4?!>LV.B6>E^")K6]L97-
MHEW)<,US;EF8BYBC*Y&#$W&&%<6,S:A@**J58RM>VQTX?!5,54<(-?>=S177
MZO\`\$\/VA[(1#P7^U_:S;<^:/$O@*&;=]#;30FL34/V._V^=#OC'I/B+X1^
M([4+Q+=RZGI$C'_=6*[`^NZN*'%.43WDUZI_I<Z)9-CX_93^:_4RZ!C(4GJ1
M52Z^%_[=GAQ)6\0?LBVNIK$?];X5^(%G/Y@'=4NDMV/T.*QKWQ;\5_#D$5UX
MT_9"^+&EIYF'DC\/6]\J#N2;2XD;'OMKLAGF4U-JR_+\['//+L='>FSX-G^*
MGA>+X@^-KOQ'JC6L]YX]U8JTUK*%98[AH<AMFT_ZO&02*M'XO?"_/_(_Z6H[
M%KI1G\S7ZU?\$M=/L-:_86\$:_J>AJ)-36_O2EY:8D437]Q(`P89!PW0U[W<
M>"O!MVNRZ\):9*,$8DL(VZ_5:>$\5\=@</'#K#0DH*R?,UHM/,]67#5*J^=U
M&K^1^#=O\7?A9=8%O\2M"8DX'_$TB'Y9//:M&/Q=X4F($/BS2GXZIJ,1'_H5
M?MIJ?[.G[/FM!1K'P)\&W80$(+GPO:2;0>H&Z,XK#OOV*OV.=0`6]_9.^&TH
MY^]X&T_OU_Y8UWP\8JWVL&OE/_.#,GPM"^E7\/\`@GXP^)(M'\7^%]3\-P:Q
M:2+J-A-;'RKE6/[R-D['_:-?7O[)7C63XA_LQ^!/%EU([W<_A>TAU(R+M(NX
M4\BX&/\`KM%)7U7XZ_X)D_L+:_H%]%H7['OPPMM4:UF_LRYF\&6WE0W!0['=
M(U&Y0VTD>F<8KY5_9;T'1O!7P>L_AGH^B1Z>WA'4;_0]2M8&!A%];7,B7+0X
M`'E-+O9.%PC`8&,"9<9TN*\3%*C[.4$_M<UTVO[JV_4Y,7E4LMI7YN9-]K6_
M$]"KG?B[XPU#X>_"CQ-X\TF"VENM%T*ZO;:*\DV1221Q,RJ[=@2`*Z*OG+_@
MI!`EUX0\`6=Y<BXL[GQ['!<Z"\9:/42;*[8&3^$I"$:?:P()C7N!73&G*K.-
M.+LY-*_:[M?Y7N>?%)O78\<MOBQ^TEXW^%IL8?C]J6B2>(8H-2O[WPU:?8;B
MZE8+(OGRQN)9$0':L0D5`!]WKGW_`.%?_!0U_%?B&;0?^"CNG>)?$>BVL2)H
M"_#_`$VX71[B+`WG4[6*<S7$N5^ZP>$@YVY->#*JA`F!\H`_PIP]1^!K[+,_
M#OAO,<,J7LW3DOM1>M^M[W3OYW\F5AL\Q^'G>]UV>WRLM#]%?`7Q@_X))_M7
M>+-%TS1[GP3<>)+C1ET;P_H6LZ>=/O[&WB9Y$@MH)51[5P2S*8@KX`P<`8W_
M`(E:'H_P7*^&?BQ_P4&O=%\.O'YDNCZM=VEOJ;VB[A'%!=`K/DE0ADPTC;2`
MP8YK\L/B#X9T3Q/X1O=/UA;>-4MVEM[V>//V*5%)2X4@@JT9PP*D$8X-?67_
M``31^(VL?MP_'^TC_:+^"WA#Q;+X9^&>DW>M:[?V?VUM&U:WG\NSM[=Y0REI
M%CFO';<6#R1J>8Z_%>,N#)<*U:;IU/:0G?5I)JS6^O6^C/K<JS59C&5X\K7S
M/9/&D7[-%I\/KKXF?#G]D[QS_9V@S)J$OQ/MG@L=;BGC7"O!<:M.MW=MM<QX
M;*L'*KN)`IO[)?[37[1GQ%\>Z5X?^#^@6NK^"+VZAN-=@^)OC6U/B?0T9095
M,%JTASD%Q'(`RG(.T'Y=_P")_C_XR?M7_M,^&O@/X7^$E\_P.@U"2[\2>/;>
M0(;O4=+G2:*"%L_+`+J*-2X&Z1HV"D*":]R^/GP"\"?%GP??SR^%-.3Q#:V4
MSZ%KXB,-WI]UL.R2.XB*RQ_,%)VL,@<YZ5\,>P>E45P'[+_CC4?B+^S_`.#_
M`!GK%[//>7NA0&]GN,;Y9E79(YQQRZL?Q%=^"#T-`!102!U-&1US0`V5S'&7
M`S@9Q7S;^T'^V-XT@\57?PO_`&<XM)DOM*;9K_B368))K2SFQG[-#'&P,\P'
M+#<JID`G)('JG[5'B?XF>"_V=/&7B_X.?V>?$NEZ%-=Z9_:6?)!C&]R<`_-Y
M8?;GC=MSQFOC/X71Z6/`>FW^D33R1ZE!_:,DUU(&DFEN3Y\DCE<#>S2%C@8Y
M&,#BOH>'LJHYEB).M\,>G=_Y'D9MCIX2G%4]V4_B)\2/VBQXZ\$>(?BQ^U!X
MDG\*77C2RTOQ9H_AB"/28Y(+U_LL3(\`,X5+B6$L!)G;G!XKUW]KW]F/X$^&
M?`.E?#;X<?"*P?Q[X]\16VF>%_%^KS/=WNG7D1-X+N:^N3)<F.(6Q?8K$N0%
M&-Q(\A^.?A/7?&/PQOK+PA?6MIK^GS6^J^&KV]W>5:ZC9S)<VTC;025$D8S@
M?=)'>O>X?BSHG[0FJ_LR_&"XL/LEOX@EOM46S=B1;WG]DRC83WV$RJ"1VK3B
M7+J6!Q,'1CRQ:_%?TB<FQ53$TI*I*\D_P?\`3.C^!%Y;_`_XZ_$KX%ZHQ@TN
MY<>./"I`)465V2E_"J@=8KR)Y"!_#>1=\UA66OZA_P`%`M9TTGX>ZUI7PBTN
M=KJ[G\1(;-_%\C19MQ!%%+YOV-0ZR%Y0@D.%",NXCSW_`(*=_%#P8/\`A'9/
M@W\7+-?B!;7;Z5J\&CN;N6Q\,W<L,>L7%P8-SVB16^95G;`21`<'''V/X1T[
M0-)\-V&E>%H8(]+M;&*+3H[7'E+`J!8PN.-NT`#';%?-'LEJPTS3M/M4M-.L
MXX(8T"1Q0QA%51T``Z`=O2K"@*-HI1CMC\**`,OQ/_S#O^PI#_6BCQ/_`,P[
M_L*0_P!:*`-2OS#_`.#A[2SK6O\`P=L59P&CU]<*,_>BMDZ?\#%?IY7A?[8'
M[,FE_M!W?AN]O/@UX3\63:.+U8YO$^I75O\`8O-C3;Y7V?EMSQJ&ST"C%>UP
M[CJ66YQ3Q%3:/-VZQ:ZM+J>7G.%GC<OG1CN[?@TS\)K#Q'XFT'4KC6O#>M:K
M8K+)+*T>F7TMMYZO<&=A^Z8$D@6<0S_SVK(N;_QMJ'BQ?$;^)KJ[U32[B>"S
MU&749"UUJK'?=W32%LBW@'?.,)&O<U^R=O\`\$T/!<&I6]O#^RE\*Q8K-&?,
M.K:EYD,7G8(`[N(EC(/`WJ!P%%4M=_X)6?"Z.>;1?#O['?PKDT4V[6D*3Z[J
M22&WVF0(V.`&N,%P/O``GI7Z;#C?*%)^Z[^L=O\`P+Y?U<^)?#.8V7O?A+_(
M_%[Q'XIO)M#LE\2:]JNI:##+(^EZ=?ZA,QUZXSM>]E4GB'/"@C)!V#&6(S+^
M.6RU3^W?B)!)J>MWA4VGA]0<1+T03*A_=JHP$MUYQP=H&#^W-_\`\$L?A5-X
ME'BVR_8\^%RWD96)6N=;U%BD8WJK1%?E3:GEA1M!4Y(/2D\#?\$H_@YHFKZE
M>:A^R#\,+3[383)#>66NZFUPTK2DKEVY16CQN92&SQ6ZX\RBG#2#7HX__)??
MU?=&3X5S&4M9+[I?_(GXIQ>)O%7@^_\`^$@\7?$37K2\NH\IH'AS6I;1U4`;
M$F,+JEO&!P(U!<=,+UKZ!_X)(>(_'7C_`/X*/?#/5;Y+@Z9::G=N44O]GC;[
M'.-Q=R3+)S]YBS'G)K]#T_X(^_!]9U@C_8N^$#*%!:YDUC5=A?;&22F[+`L9
M>I[+ZFO4O@3_`,$^?A/\/_C1IWQ;D_9N\&^&[K0+?=H5YH^I74[PS.LD<HCC
M=A%"FT@C"YPQ!]:Y,SXVRFO@*M.,&Y2A)7]W2Z:V4K]?4Z,%PUF%+%TZCEI&
M2?VNC[M'U%'C8`#7@_\`P46\0:#%^RWKOP\O"9M2\:;=#T.Q0G-S<RG/SCO$
MB*SR9R-BMGK7O$?"`5\9?M9P:]9?MDQ'Q5+)+97?@I7\'`MNC@,<Y6_`'\,C
M&2U)(Y*@<XXK\LRK"QQF84Z,G9-_EJ?>8ZL\/A932O9'E>A?`;PIX'?[5\(]
M?\1^`;G(,G_"!^(KC3;9WV[=S6D;?96Z9R8LG\379:#\8/VW_A\R#PU^T'I/
MBJWC*C['X[\-KO<=\W%FT;9]]A^E2^]`QW-?IN(R;+,5K4I*_=:/\#XZEC\9
M2^&;_/\`,Z?3O^"F_P`2O`=QI.D?';]D?5[FYUK5(-+TR]^&>MVVJI<W<K-L
M3[/=FUF3Y59CM$N`I.:]?L_V]?V;(;Q=*\=^)]2\&7F_:UMXXT&ZTK:V,XWS
MQK&?J&(/:OG?X*>&_P#A8W[</@71YHR]GX'T74?$UTA4E1<RH;"T)[9`FNB#
MV(K[DU#1=+UBW-IJ^G074++AHKF%74_4'(-?F^=87"X+,)4:%[*V^NI];EU:
MMB,*JE3=_D><?'S]H+P/X4_9A\:?&CPEXLL=5M='\+W=Y;7&E7L<P>00L8E4
MJ2"S.5`'<D"OD/X1>$I/`WPMT#PC-CSK#28(K@C^*78-[?4N6/OUKZ<^*/\`
MP3>_8L^+-M<1ZW\"-*TN:Z='N+SPJ\NCS2.CAU9FLGBWD,JGYL\@5Q6L?\$T
MM2TPF3X6_M8>-]/"[C%9^)DM]9BR>?FDF19V`/K*37;P_FN$RN<W53O*RNNQ
MSYK@:^-4?9M:7W/.@">G/XTF/<?G6'^T;\+OVP_V2OAIJ7Q9\07?@'QYHFEF
MUBD@T][O1]3N9I[F*WCCAC9;B%W9YD`#21C)[5Q4W[1WC+0#*OC_`/93^(M@
ML)'F7>D0V6K0'/<&WN-Y'_`,^U?>83-L#C8.5*3:6^CT/F:^!Q.&DE-;^:/4
M0"2%'<@&O4?^"6.E2M\&?&/C^:-,^*OBCK-[$XQN,4+QV29/L+7CZU\LWO[9
MWP#TNQN)_$/B34-#EM[-[AX/$?A^\L&554MR98@O;^]BOM3_`()S^%9O"/[%
MOP_LKJP:VN+W0UU&ZC?J9+IVN&8^Y\S/XU\YQ=B:<\-2A!WNV_N7_!/6R*C*
M-:<Y+I8]MHHHKX0^G"LOQMKEKX7\':KXFO?]3IVFSW4N3CY8XV8_H*U*\O\`
MVV/$`\+?LA?$[7`"6A\!ZJL:A@,NUK(BC)Z?,PYH`I_L#Z7<:+^Q7\+;"[@,
M<W_"#Z=)*I'.YX%<D^Y+$GW->N5\Y?";XK_MC>"_AKH/A/5_V$[B3^S-#L[6
M,Z7\1M,<?NX$0[A-Y14\<``_6MB]_:C_`&E--91>?\$]/'D@8$@V7BK09<8]
M?]-&*`/=:*\(L_VT?'8<+K?[!_QIM`4R&BTO2[@9[@^7?G\^],O_`-OOPQX=
M\N\\=_LW_%[P[II?%UK6K^"Q]DLE[R3/#-(409R6P0!SVH`]X)`?\/\`/\J_
M.+X,D?:O'W.-WQ;\48_\&4U?<WA+]HOX$?$"#3+CPE\7/#]X==>:/1XEU.-9
M;QHFVR+'&Q#,5/4`9&1GK7Q9^R7^PSX^^-/A#Q7\0%_:Y\8:(FH?%;Q4ZV]C
MX=TWRY`NKW"[T>6!F*$`8/M7M9'F%#+<8ZM6]K6T]4>;F>$J8R@H0WO?7T9T
M)!`R>]</\=_@/X2^/_ABU\/>)-2O]/N=-OOMND:KI<XCN+.X\J2+>N00RE)7
M5E(((;\1[_IO_!,RY@N/.U;]L+XCW*XXCBMM(B&?7_CR)I\W_!+WPU<1R1S?
MM5_%O,H(=H];LHR`>PV6@Q^%?5OB_`+:,K_)?^W'B+(L8G\2_'_(_,OQSX"^
M*7P&U[_A'OC!;?;-,FNDAT3QI8VPCM+TN.(9D#L;><G*X/R/C*MG@"_='TK[
M,_;]_P""97AKPE^R9XL\>>'OC3\4?$>I>%K.+6K'2M9\4^?;3R6LJ39DA2$>
M:`JL=AX)`Z<$?%.C:YI?B'2(-=T?48+FUN8P\,\$H96'L1W]J_6^!>*'Q%A:
ML9M\U-I:VYFFMW;?5/7[SQ<TRZ6`E&]O>[;?(76M%TSQ'I-SH.M6@GM+R%H;
MF$L0'1A@@D$'!^M?>O\`P1I\!V7@#]D'QE\4_#$.G)>:MX@U!;2T2$K]BBL$
M-M#;NW<#RC)@<#S.YR3\&W>I:?90&>]OH(4'5II0H'XG`K],O^"./B;PMXC_
M`&`_#&F>'7AEET;4]6TW6WC(99+U+^=Y6W#[^[>K9_VL=J^>\7IN.54(I?%/
M5^23LN_4]'AB*>)FWT6GWGJO[$6GV>F_LG>`Q:;LW>@17UP6[SW!,\I^ADE<
MCV(J3]KV;XK1_`36_P#A2^F7]WK,K6T+QZ0D37J6CW$:W4ELLS(C3K;M*R!F
M`W`>PK._9?<>&/%WQ,^#MB2ND^%O&:G0;?.5M;2\L;:\,"G^%5N);G:G\"%`
M.-M>O;25R6/KBOP`^V/E[P/I7QF_9<\%>!/'OBWQ6\/AE]0L=%U[P)':P^3H
MEM>2+:V312!?,>9+B6W$S%B',DA```KZBCSCIBO"/VPM2\1?$DZ+^RO\.=*M
M[C6O%%[;W^IZA>2R)#H6FV=S'<->-L5B9#+"D<2<9D;)("DU[FD@@58W+$XZ
MD]:`'R.J=:^+OBI^TC^TS\0?B;XG\&>&O'5O\/+3PSK3V*V%II,5WJ4R#!CN
M)GN`8D29<2(L:GY&&6W!@/6?VA_VP+[1-,U_P=^RWX#E^)GCC1=/:>^TK0KN
MW>'2^>!<LT@Q*5#F.!<O(T94[`2X^;_`_P`,/VT/%\MWJ7A?]EC4H-0UG4#=
M:OXE^)GBBTTPW4K*%,C0VQNID55"HD:IA54`8Y)]C)HX!5Y3QK2@EL[ZOR2W
M/.S&6+]DHX=/F?5;6ZW;+OB>;XU_$VR31/C-\>+_`,1:&KH\WA^+2;>SM;W8
M0R?:/+!:5=P#%"0A(&01Q6C'#'$JP0JH5!A0J@`#L!CM[>_?K71:!^PK^V/X
MC,<GCGXY^!?#$9D)DM?"_AZXU&15[`3W3Q*3[^2*ZO3?^"8?A6Z@`^)'[2?Q
M-UQRC*RV'B`:-$2?5=/2)F_X$[5]/3S_`"/+H.&%IOY*WXO4\6659GBY*5:7
MWN_Y'FBJ690,?>&?H>W\NM>._LXZQ_P3QMO`C>%_VC?"GCCQKKVA>/-:CA\/
M"SU[5M,TEQ>S>3"EI$6LX28G3"[<%9.>#SUVM1_&CX`_%'5_V?\`Q1\-/%/C
MZU\.Z=%J4?C'PPD-[+'I4\DD=LU_;!DF6XS#,&\I)-PBWXRV*\%^'O[6>A6?
MC_XM6OPZBO;K3KCQDMXNI3:-(ZV4PT^VBNE:W9HW9O,B5<2-$H;=N<$8-YC7
MRO.J%.]6UG>RUEMM;<G"4\=EU67N:OOMOO<]I^*G[>/[)'ARPU;X`:G^R)?_
M``C^%M_#IZ^+O$5HECH=]#!>W$D<-Q%9V(D+0>=;JDQ=ED"N,Q$$Y]3_`&6O
MVC_VO/BO^T5HNE?#OPK<^(/A!I7VW2M5\87\2V:7MN,2V5_%'+#&SN598RT+
MRI(N&*1FO,_^"<_[('Q!_:K\53_M%?M__LVSI::7<RQ>`[3Q9K"LMY;K=":"
M:72(HA"JJ4216FDE?>H*A0`Q_22TM(K.)8($5$10J1HH55`Z``=!7P^,^J*K
M;#I\J[[OS/IL/[=T[U;7\A\2[5QMQSWIU`!'4T5RFYE^)_\`F'?]A2'^M%'B
M?_F'?]A2'^M%`&I3?+0]1T[TZB@!AA0C!S^=*8E//-.HH#0;Y2=<<^N*/+7K
M_6G44!9#3$C#!Z>]`C4<?H:=10&@``#`KX[_`&TY[^^_:W\,Z=K/_'GI_@6Z
MN=$&W`,\MU''<L#_`!'8D`('`#`GJ*^Q*^:O^"DV@2VOPY\,?%[3]#G>7P?X
ML@N-7U2U'SV6C2JR7S.`<O"5$3.,''EJ^,H"/1RFO##9E2J3V3_X%SCQ].5;
M!SC'>QY12A5."3WKG_A9\4/!?QG\!6/Q+^'VH27>D:EYGV.XEMVB9PDCQL=K
M<@;D./48/>M\,R?,IQ^5?KL9*4>9:H^#:DM.IWG_``3<\.-K_B;XI_'B>+,=
M_P")8_#>C2%3DVVFQ!)V7/\`";R6Z3CO!GO7U@.E?,7_``33\::#H_P=;]FF
M_1;3Q1X&GG;5(M^1JD5U<RW":G&>K+,TC%P>4E$BG.`3].@Y`/M7X[F,JM3'
MU95%:3D]/F?H&$5..&@H.Z204445QG0?+'_!4'5FU31_AE\(HBQ7Q#\1K6^O
MD63:&MM-C>](;'4>;%`?J!7G2ED(93@KT8#G\ZVOVUM77Q5^W!X9\-1LCIX/
M^'ESJ$P)R4EO[I88R/0[+689]"?6L6OTGA.A[++7/^:3?W:'QV=U.?&\O9+_
M`#."_:G:[E_9Q\:V=G83W4EWX<N;-8;:W:5\3(8F8(H);:'+<`G"FOK?P)^W
MW^Q!J%G%H7A[]HCPM9K:1QP16>H7HLFC4`!5"3A#C`QP*\%JKJ?A[0=?A-GK
MNAV5["XVR1WEJDJD'U#@BM\YR-9K.,^?E:5MK_J9Y?F7U",ER7N^Y]N:#\1/
M`WB=8SX=\9Z3?^:H:(66HQ2EP>01M8Y[5LAP6P&[=*^*O^"?O[$/[+'Q(_9K
MB^(/C[]GGPA>7NO>*M9U&VO8='BAFC@:_E6%5DB"L`J(``#P.E>RI_P3W_9X
MTJX:\\"7/CCPK(RX)\+?$G6;(?\`?"76W\,8K\RJ0]G4<+WL['V<)<\%+N>X
MUXG_`,%$!+>?LE>)/#-LA:;Q!<Z?H\"Y^\]W?00`?^/U%!^QWXST".5/`W[:
M?Q?T\2\B/4M:M-55/H;ZVE<?]]5S?Q5_8^_:E^(7A*Q\(2?MIF]AL=?L=6CD
MUSP):O(\MI<QW$2LUN\0*[XUR,#-04?2FU2!E?PHQQC->'VOAK_@H7I=BR?\
M+:^%>K3C.QKOPA?VN>._EW;C]*W_`-E'XM_$3XP_#^_U;XI:5H]GK6C^)]0T
M>\&@RRM:SFVF,?FH)1O4''1LD8H`]1V+U[^M-FMXKB(PSH&1AAE8`@BGT9!Z
M&@#SWQ%^R9^S%XJ?69]<^`'A"6X\0R++K=ZGA^WCN;V51A)9)D42-*H^[)NW
MKV(KS/\`8%\,?\*1;XA?LJIK-]=6G@?QG--X<&K7DD]RNE7X%W"&D<DNJR//
M&K'D^6<DG)/T=D>M?.G[0>J>'O@1^V'\-/C[K>N:9H>C>*;?4?!WBB]OIUMX
MIG-NU]8R2R%E#-&]I-&F_*J+B3!#,`0#Z+HKRK5_VW?V/M"FD@U/]IWP1&\1
MVNJ^);=\'T^5SD^PK/'_``4&_8J8D1_M*^%I"!D^5J&['UV@XH`]?NHHID:*
M9%=77#(P!!'H1W%?FC^V1^PG^QY8_MQ6VOZ%\-]#UVZ\;V%WJ7C+P_=IYMOI
M,D"QI'>1*K;87G=U1H=N)-K29!0AOL#QC^WA^QU=^$M6CD_:1TFS4Z;-_I-K
M<M',OR$9A+)\\O(*JN6)Q@&OD7]F+P!I_@?X0:+>S>#;72M<U;38+OQ%*(<7
M5U<LN3)<R,6>2;!!8L3ABV#7TG#&$J5\=[1.RCOY^1X^<XE4<-R6UEMY>97L
M_P!C/]D73T"VG[+WP^!7H[^#K)W_`.^FB)_6MCX4_MF_"K_@G%K'B'X)2_#R
M^FTOQ%:R^)/!'AWPOHRK&;PN(KN!F4+%;1L_E2!W(`WN.2,'L@"3@8_&OEG]
MO73!;?'+X<>(E?!NM$UJQV^I5K.4?^S?E7Z)/)L'G%6EAJVD93C=JR:UMIH]
MSYC#XVOA*CJ1=]'O<[/X;_\`!5K]J;P,FLZEIG[./@=-6\3ZU+JVOZEJWC&Z
MF,DS(D4:(D-JH"1P0P1*,](\DDG-4$_X+7_M[S?$#4?AS_PAGPNBF.CQ:C97
MGV2_98$,KQM'MWC>054Y..M>,#!SQ@9(Z]LUPVOB>Q_:(\/7"(OE:CX8U"WD
M)ZYBEAD7_P!#/ZU];4\-N$\-&+]DW[R3O.6S:71I=>PXY_F<V_>2T>R7_!/I
MOP9_P4G_`&S/"'Q?O_C;XDT_P-XMO+[2;;2SHYLI],CM[>.5I'$,RO,=S%B?
MG4C(7H*O_M"_\%)/VH_VB-/O?"%D;'P'X6OV47%AH=W)+JCQ`?-"]Z-@57/W
MO+0';\H/)KP[:N<[1GZ4C#```_"O2I>'O"5'%QQ$</JK63E)QTZM-N_WV\CG
MEGF9SIN#GOY*Y]&_\$9]>TWP%^U]XH^'6GVHM;7Q1X#BNHH((ML1FLKD@G`'
MWMESC^=?J,L2,HS_`#K\)OV;OC;X3_9Q_P""HGPK^+GCSQC>Z9X;B\,:SIWB
M69MQL[6&>(&"1PH))::(+W[5^D]__P`%D?V2+FPUN]^&MOXK\7Q^'-(_M+6+
MG2M"-K;6EN69$=Y[YH$`9D*C:6R<``D@5^(>(&!E1XHQ$J5-J'NZI::Q2Z:*
M[_$^NR6K&674U)W>OKNSZTP,YI)1G&%R>U?F=X=_X.&]'^+'Q=M_A5X`^"UG
MX0TZ\:&&'QU\2?$8AT^.:5`\8>*U2215(*@,[(-S*"1N&?=?VMOB9^U7\"?V
M?M7^-7C?]I'1X5^S$:%I7@'P:@:[N#$\D:"YO)9E2,A&9I"A"H"P!(`/QE6A
M7H22JQ<6]=58]:$X35XNYH>,=5\<_L_?ML:[H^FJNIZ7\>8K1-,_L-C)JGAB
M_M+,6CWTMJPV266T1.\X8,K[5*$'-<+_`,$X?^">?@+X4^*/&]O\3O'&K>/-
M<\'^/3%'>ZO'#!;7MPUE:70OIK6)0LMR'G<":0L1M&W!&:\C_8,^,_Q2_9%.
ML>,OV@?`%SX_\0^*M2EA\6>*M-U;[=JNFZC;"#[19Q(ZJL]F\,UO?1K;[2RR
MS$1ML7/WO^R_X+UW0?`TWCOQM9/%XH\;W8UOQ$D@PUO+)$BQ6WL(84CCV],J
MQZL:B,YPORNU]/D$H0E\2N>EK$J``=!T%.HHJ2@HHHH`R_$__,._["D/]:*/
M$_\`S#O^PI#_`%HH`U****`"BBB@`HHHH`****`"O.OVMO`?B?XG_LR>._AW
MX,MS-J>M>%[RSLX/.\LRO)$R[`V1M)SC.1UKT6HKZ%[BREMXYFC9XRJR)U4D
M=1[TT[.XFKJQ^;_[.?@OX;_#KX66W@;X76-[::?I5W<07-EJ,DAN+2[$K&>&
M02<JRN2-O88ZCD]S7,?#7PM/\-IO$'P>UA-VL^%/$$]IK=Z2Q;4II0MRE\Q8
MDL9HIXW)))#%ES\M=/7[)@9QJX*G-6UBMMMNA^?8B,H8B<7>Z;WW,76V\8^#
M?$^E_&GX4MCQ3X;9V@M3)MCU:S8#S]/F]5D`RC'_`%<JHPZ$'[;^#/Q@\%_'
M3X;Z3\3_``'?&;3]4A+*LBE9+>56*20R+U21'5D93R&4BOCX9!Z_I1\'/BXW
M[*GQ>D\4W[.G@#QE?Q1>*XUR8]'U)ML46I@?PQ2$)%,1C!V2'HQ/S7$V4>WI
MO%TE[RW\UW]5^1Z^38_V4_83>CV\GV^9]V4V1L"FV]S'<J'B(*LN596!!'8C
M'6JWB'5;70]&N]:O6Q#9VLD\I_V44L?T%?GU]#ZL^$->U]_'_P"U7\7_`(B^
M8SP6_B6U\-::7C``@TVSC$F#W_TRYO`1_L5H8QQZ5Q'[.=Q/JWPIM/&-\TDE
MQXEO+W7;EI6W,SWMU+<9./:1?RKN-N.6./6OV'*J/U?+Z5/^ZO\`-GY_C:JJ
M8N<^[8E9/CSQ#!X0\"ZWXON<&/2-&N[YP3C(AA>0_P#H-:P!(R`>GI7!?M.0
MW.I_!?4O!NGQO)=>*KNQ\/6L48^9Y+^[AM=H^HE(_&NG$U51P\YOHF_N1E2C
M[2I&*ZM+\3[6_8B\#S?#G]D3X<^#KJW6*XM?"%D;I5.?WSQ+)(?J68G\:]3J
MOI&FVFCZ7;:181!(+6!(84'\**`H'Y`58K\6;<G=GZ(E96"BBB@8A)`)Q]*^
M/_V1_"7[6/B;P1XC\5?#;XV>%]'T;5/B/XBGM+'4?!SW4J#^TIER9!<+NR5/
M85]?R,%4L>@&:\5_X)YO#=_LC>%=6B0`:A-J-YD?Q&74;F3/Y,*`&-X`_;^W
MX3]HKX?E0>"_@"<$C\+RJK>#O^"CRRD)\;/A:R`_*6\&W@)'OBZXKWFB@#P<
M:1_P4D1L#Q=\'F4-U.D:D"P_[^\?TKD?VC/@7^W)^T5\++[X;^*--^#2EI([
MO2;]O[2D>QOH6$EO<JK`C<CJ#CD$$@\$U]34C#((]J`/#?V2]>\"?&GP'>R:
M_P#!C1-,\1>%-<N/#_B<6VEVSVDVJ6A"7$MK(JY>%GR5+*CCD,H(KV"#P?X4
MM@1;^%]/CW?>V648S^0KP:UTN#X2?\%(M-\.>"[^>RTKXD_#O6-9\3:.FW[-
M<ZI87.F017H7&4E,-PZ.5.'`4D9&:^C*`/`/^"AGP0UKXM?L\'3O`OA"'5-4
MT'Q'I>NVVEI"F^[6TN4EDCCW#&\QA]HXRP`[UX#X6\7>'O'&D#7_``SJ(N+<
MR/'(""LD$BG#Q2(?FCD4\,C`$'J*^^GB#MDGC&,8KXA_;R^">J_!;XHI^T5\
M,O'$-K)X[\1Z1H]QX(;2E:/5KT>:9KCSBP,3K9132'&-QMQDG(%?3<-YM]2K
M>PFKQF_G?9?(\;.,#]8I^UB]8_=;K\RIZ>]?-O\`P4,TJ0ZQ\+/$\;'$'BJ_
ML9,?W9M*N9?YVHKZ3;87)4C;G@BOF[_@H%XGT'6H/"7PFTMO-\0Q^(K;7F=2
M1_9MC"LJ/,_;]\':W52<D3.W\'/ZI@.?^T*/*KOGCIUTDG^1\A=<K]'^1Y,K
M+CT]J\W^.>OZ+X)\:?#[QYXAOVMK.V\075G<2JC-A9].N2`54$D;XH^W;/2N
MK\7?$KP!X`:$>,_%=EIOGF4QBYE"[M@W/],#U[D#J0*YGP1X3U+XA:[%\8/&
MNJW[6QOOMOA+P]*RI#IT9A,23.JC+3.C._S$[/,P!QFOU'%U/;)4*+3G=/TY
M6I7EY:+3=MZ=3BI+D;G+;7YWT_6YWFBZMIOB/2H-<T*]CNK.YC$D%S"VY&4^
M_P"!_*N9^*7Q0C\$:%;/H.B76MZIJTLMMHUAIJI(99EBD<LQ+*!&NP[B"3V`
M.:KZO^SS\(]5NKB^7PO)9273E[DZ5J=Q:"20G)<K"ZKNR20<<9/K7+Q>"/`?
MP4^+5CJ]Y>2Z7X9.F^5X?MI[PC3]-OW8B8A7.V-YD*8.?F(8]348FMCX4TFH
MQ3:3DG>U^MG%+TU>MO4=.-&4M+M[VL=O\/OA^OA>.37->OI=3\0:A%'_`&MJ
MUT%WN0O$487B.%22%1<#)W=2:J>/7\+R>+=*T]O#5[K7B:ZB$.A:1:1SR)=R
MF55B24("G^M(V&0'!!*\@UUDE]96UG]OGNHDMU3>TS.`@7'!W'C'UP/TK[<_
MX(D_"&/5/#_C7]J'5[5777]6CT3PT)K<_+96&XM.I8#(DN99B",C"*<U\UQM
MG='AK(N:G&,IN245)7UWYFGNU:]W]JQWY3A)8_&6DVDD[M?E\]CTW]CO_@F'
M\,?AA\"3X0_:>\$>$?'_`(AU?Q%)X@UF74]!BN;6TNFAC@CAMUG#'9%#$D>X
M\M@DC!`KP3]K61?V>O@S\7/AI<?"+XCZ)H>G^(OM?PIT_1M%GO=#MHX]-,3B
M&>)G>UBF\Z<L@"+"Q4QC(:OTJ9>"5."15>_AAFLI8+BW$BM$RLC#(88Z8K^8
ML1B*V*KRK5I<TI-MM]6W=OYL_0H0A3@HQ5DC\R])T/XN_&'X?6EY\(X]:T.3
MQEH?A0VEOX7T'^U[+5VM?*@37%OWC1-,ECA!CFC<"0?8H@"Q8!OT[@5DA16?
M<0H!8]_>ODG_`()A_'C3=0^&\OP-\;:'J&@>)+'Q9XA32]*OM$N+>.>RCOY&
M0QS21JD[!)%+D8;DDJ!R?K>/`C&!CCO6%[ECJ***8!1110!E^)_^8=_V%(?Z
MT4>)_P#F'?\`84A_K10!J4444`%%%%`!1110`4444`%)("4('I2T'.#@4`?(
M'[=/A^V\&?M&>`_&NBP1(?&5K>Z1KJ1S?O+A[:$W%M,4QR(P)4+YR!(@P1C'
M)'KT(KZ8_:._9@T+]H.+2-3'BK4?#^OZ`\O]CZWIR1R^4DRA)HWAE#)(C``'
M@,-O##G/R[\4O#?CW]F77;;1OCOKNDW&DZDC'2?%ME;26ULTBG!M[A79EAE*
MD,N&VL`V,;<5]WPSF^&IX=86K*TKNU]O2Y\QG.!KRJNO!75M;;^I:J#5--T_
M6].GTC6;**ZM+J!H;FWG7<DD;`AE8=P02#4EM<V][;I=VEQ'+%(@9)8GW*X/
M<$=0:?TK[1I21\]U/2/V%_CGJ'AO4_\`AD_XDZK+/>:=:O<>!=7NWRVIZ8N,
MVSGO<6V0A_OQ>6_7?CD_VYO^"AWPIO/`/Q)_9;\"Q>(!XXNV?P?I-Q-X=G%A
M<ZK=+#&\,5SC8S1172RL3@!58Y.TUQ?C'PS>^(+.UO?#NJ-IFO:/?1ZAX<UJ
M'_66-Y']QA_>1@2CH>'1V4\&N*_9E\9Z[\5=/\<?%;Q9H,>G:CK_`,3=6N+S
M3ED$@MIX1#9OM8<%2UNSKWV.N<'('P];AFG/-;)M4Y)R5NC35UZ:Z'T5/.)K
M`ZZS32^5MRK9?L1_LWZ'8PV?A7P7=Z%)#:1P+=^%/$-]I3L%4`,1:SHI)QGY
ME/6I(OV;O%>AM#_P@?[5'Q(TZ.'_`%=KJFHVVJP_1OM4#.P]BYKU,C/445]E
M]6H=(V]-/R/!]K4>[N>5_P#"$?M?Z)$XT?X]>%-<)?*CQ!X+:!L?W=UK,H_'
M;6)J.K_M:ZK\>OA3X$UOX3>"=86;QW;ZI;)HOBRYM&N9-/AEO%1Q/:N(U+Q1
MG.3R`.,Y'N`)!SGIW]*F_9^T^?Q%^WIX/MD=#%H'@G6]4N(V&2#+):6T9'UW
MR?D:\C/$J&5U9*3VMN^NG7U.W+;U<="+2W[+IJ>]6/[27[0ND6TC^.?V#_&X
M\L\/X6\2:'J*,/4"6]MY/R0FD;]N;P/I5@;[QQ\%?BUX=*MB6+4OAEJ,X3W\
MVTCFB(^CFO:HP-HP/QIV`.@K\M/MSQ:'_@H7^R$1&-1^,$&FM(<;-8TN[LRI
M_P!H31+M_&NGT#]J[]FGQ3<I9^'?C[X/NY7^['#XAMRQ^@W9KN[[2],U./R=
M2TZ"X0C!2>%7'Y$5RGBC]GSX#>+DQXK^"_A74!@C_3-`MY,?FE`&U<>+-`OM
M!NM4TC7;2ZCBM9)#);3K(``I.?E)KS7_`()_Z,VA?L0_"BU+`M/X"TR[DXYW
M3VZ3MG\9*^2OV=?V4'^)_A7Q'\5?"O[$7PEUG1?$GC;6+C1);CQE>Z9,+)+N
M2"*,PPV;1HN(B0H8CYZZ^/\`9"\0>';2+2K/_@F)X8%K;(L-M!X9^-EU;)&B
M@*H"LD("```*.F.E`'W.K9."1^%!;!QCK7QE\*_V>?V??&OQ<?X&?$C]CWQ9
MX`U:3PU)KEE<_P#"TKFZCNH(IXK>15DM+]F0AYD.'"Y&>XKU=?\`@G'^R]:D
MR:=IWC"UE(P)[7XF:XDB>ZL+S(H`]UW-G.1CVIV<C/M7AD'_``3Y^!MM<+<V
MWB[XH12H<I*GQ@U_(/KS>=:NG]B+P"%X^,WQEZ=!\:=>_P#DN@#GOBWOM/\`
M@I7\%[OD+=?#SQA;$]CB32I`/?[M?0]?#OQG^'&L?LK_`+</P6\>^!K+XK_$
MZ:^T+Q78+HVH>,CJ+0N8+)PT?]H7")$,1ME@V2!WQ7N-K^TI^TUJ,:36?_!/
MSQI&K<@7OC#08B#W!`O21_*@#W&N0^-7P.^'WQ]\!W7P\^(UA<3V-Q*DT4MI
M=/#/:3QG='/#(GS1R(W(8>X.02#YU<?&_P#;<O9671/V'[.VCSF.36OB;9H<
M>A%O'+@_0D>]9OQ#^/W[9/PO\!:K\3/'GP/^&.D:/HU@]WJ$]]\4+E!'&HR1
MN_L[:&[#G!)'---Q=UN)I-69\N_%CXA>&_V.OBCK/P<_:`^+UH;*RCL[CPQX
MCUA!#<:C;W'F@0RJ@Q--&8CN>-0I7#-M.0?B3XLZMX9_;)_:"U#XT_V9JD/A
M?3=+D\.Z2MOXE>)-3DMKR<2716U==T;<&,LYX)X%?67_``4+\:_$+_@H5XW\
M$^'/@!H'@&PLO!ECIGB/6];\4*\VJ6]S>6\S+IT,EN&\M%4YF&1N8!>Q%>:Z
M!_P3[^,>H:M!-XR_:$LM%TV"!]^F^#/#T0:68N#O:2[$H"XW<*H)+9.:_9.#
M\7AWA(8K,.:3BW:*C?FT24FVTM+M6\DSXO-*5*CB91H-*^^^G=))>AXQX1^"
M/PQ\$WL^J:3X=\^_ND=+K4=3G:ZGG1W#E7>0G=@A0">0$49XKK8;=\`0QG`X
MPJ\#VKV:V_X)U^`)9EFUWXW?$>^]4BUV&S0GOQ:01D<_C6HG_!.S]EN29;K6
M]"\2ZPZ<9U?QQJDX/_`6G"_D*^_AQ7@Z$>7#X=I>L5^5SQ'0YY7E/^OG8^?=
M7U33-!M)+_7=2ALX(HR\LMS(L:HH&226(`&*ZC]C_2/V,OVD=>O/%7[3?QD\
M/0?"_3%C2/3KC5HU'BBZWMOA*JWG&VCPF["@2,VT,5!!]FO_`-C[]AOX<VG_
M``E7B+X(>#+.&U(+7^MH)54^[7#L"?8YS5/PYH_C+XE+<V?P1\&:!\//!!!B
MT_Q`F@QIJ6IC;AIK>T*(MO%DD)))\[8#!,8)^<XCXAS'-\"\)0M24]VFW)KM
M]E)/KN=V!AA\-556:YK=]%^MV=%\-O`G_!"[PUKB^+O",WB3XBI!J"#1=(-A
MK>M6-JL;-MA@MHH?)EAC<''F"0*R@9!4"OHUO^"DOAFVTY].^%'['_Q/U&*T
M`2V^TZ9IVC6Q'8!;R[CE`'M$:\B\-:)X*^$/@BR\+Z;-;Z9I.GQ>7&US=JBD
MDDL[,Q^9V8EF)Y+,36U;W%O>6Z75K,DL4B!HY(V#*RGH01P1[U\$^&:==J6*
MKSG)=WMY:W9ZSSNI35J5-17]>AU6K?M[_M<ZVL:>%/V:/"&@K)G?-XB\<R73
MQCMF.VM@"?8.1[UR>L?&']N?QJ-NN_M%Z-X<BD1MT'@_PC'O7TQ+=O*>/[VP
M=*ER2`0?I2H,N!NQD]<?YS7;1X9RFGO!R]7_`%^1RU,XQ\_M6]$?.EW^T)\>
M_A)^TOIWQHO=)^,WB'P[X!NYD\1^*?%4D%U%J4#)FXAL+0SP100LJY-WLR&4
M*`!DG]:]!U:TU[0[/7+#=Y%[:QSP[UVG8ZAAD=C@]*_+_P#8Z\+ZK^T[^W#K
M\GQ"_9Q\3ZEX'5X5FNKWQ@S:)#-I[OY-S]FB;RK@22>41&P)#([-D*!7ZD01
MK%"L2*`%&``.!7P><_5EC7&BK):=+?*WZGT^7>V>'4JCU?K?YW'T445Y1WA1
M110!E^)_^8=_V%(?ZT4>)_\`F'?]A2'^M%`&I1110`4444`%!(`R:3=@XKC?
MC#\6X/AII%C;:9I$FJ:]K^H#3?#>CQ,%-Y=&-Y#N8_<C2.-Y'<\!4/?&0#LB
MZC&6Z]*19$8;@?TKQ>^_9K^)WQ4L#%\:_P!I'Q(UE?E3K'A#PS:6-GI<D8.3
M;B4VS7NTXPS"X5F']T'%3?\`#+/B/X=-%?\`[./QHU[P]Y!P/#OB"^FUC1Y8
M]I`C$5PYEMP"0089$Z8(8<4`>Q[E]:`Z$X#5Y$_@;]LW2E%[IOQV\':G*_S2
M6&I>#)8(8SW5)(KDMM[#<":S/%7B+]KWX6^'+SXL>);SPGX@L].MY+C5O"6D
MV,UN\5O&-S/;W3LQDDV@G:Z*IQ@$=:`/<<YJAXD\.Z5XKT>XT'6[-)[6ZA:.
M:.1000P(XSWYZTGA7Q%IOB[PWI_BK1Y=]IJ5E'<VSYSF.10RG\B*T*`/A+XA
M_`F__8[UK0?`::_<:KX*UAS8^&]0U`+]HTZ[5&D6RF=`H='16\MR,Y4J<G!I
M5&>F*^B/VX?@=X]^/7P=M_#WPQGTT:[I'B?3=9T^#5YFBM[DVTX9X7D16:/=
M&7PP4X;'&":^>+_X2?MN:+-Y=Q^RI;ZJF>9M$\?6.![XNO*-?>Y%G]".#]GB
MZEI)Z7ZH^6S+*ZKQ'-0A=/?U(-0U&QTFPN-5U*Y6*VM('FN96.!'&BEF8^P`
M)KS#]EFU\7W-OXH^(M[I%KIGAWQIKG]O>&M+,ADNX%FA19))C@(HE,:R+&N=
M@8@DG-<_^VO=?$^'PKX<^&/Q"_9L\;Z;>Z[XNL#9Z6);2:WUN."59+BT>XMK
MDB)&CW,Q?Y2%VGAJ]SCCAAA2"&)(U1`JQQJ`%`&``!T`Z8]J^DH8BAC:GM*4
MKQCU7=GCU:53#KEFK-]QYQGBDHHKO,`'0_0UTG[!>EIK_P"V'\3/%QM"4\/^
M"-`T."X[+--+>WLZCW*26N?H*YQ=V?EZCFN__P""6&GI?Z-\7OB*)G<ZW\6K
MJWB+#CR;&QL[-0/^!125\QQ94Y,L4?YI+]6>SD<.;&M]D_T1]5IG:,^E+0**
M_-CZ\*K:Q=P6&EW%]=2!(H+=Y)9#T50I)/Y59KA/VH=>@\+?LU_$+Q'<W/DI
M8^"-6N#+G&S99RMG]*`.*_X)KZ>FG_L)?#"1`?\`3?"T-\Q/4FX+3DGZ^97N
M!Z'!KS_]E#PS'X+_`&7OAUX3BBV#3O`^E6^S'0K:1`_KFO0#C!R:`/$7N%N?
M^"C%LBGBT^"LWX&75X>OI_J?TKVX'->(_%WX=_&?PC\<U_:3^"GA;3/%=]/X
M33P[?>&=2U,:?B);IITN8[@JXR"S!HV'("D'/7-T;_@I!\`;,66E?&#2_%_P
M^UFYMQ)<:9XN\&:A!'`0563_`$I86MV17;!<28Q\QP#F@#Z`HK-TOQ?X9URQ
M&IZ'KUG>6[,%$]K=)(A)`(&5)&>1Q[BI=5\0Z+H5NMWK>JVUG$\JQI+=7"1J
MS-T`+$9)["@#Q;]JQ;K1OCU\`?&-I*`4^(UYI,J$<M'=Z+?D_K`E>ZKTKP;]
MK/5]-U;QY\"I],OX;B-?C7$C202AP&71M6#*2.A!X([5[PASGCO0`ZN=^*5Q
MX"LO`&L7_P`3X--E\/V]A+-JJ:PJ&V,*+N/F"3Y<<=QBNBKY[_:*1OVE_BS9
M_LCZ+9I_9^@WND^)_'>IW2YB%M'=>;;6"1])GG>`[PWRI&I)R6`H`^&/V</C
MW^S[?:+J_P`6[?4+32]4\>:U-K%[I.EZ',J6$))2ULU6&$#$5ND2[L?.=S'E
MJ[BY_:I^%L6OZ=X6MM*\87=_J\DJ:5;V7@#5I3>-$F^01E;;Y]J_,<=N:_2>
MQT+3-,18]-L+>W50`J0PJH'TP.*\3_:`MS+^V?\`L^Q,H80W/BB?<3R,:5Y?
M_M6OIJ7%.+P^'C1I4XI1277_`#1XM3):-6JYSD]7?H?,H\8_%"^N4M_"W[)?
MQ>U;>H(D'@A[)/\`OJ_>`?YZUQG[1'[0OQD_9PC\.OXW_8T\8V"^)[N>WTJ;
M6->TB%'EBB,K*WV>[N&0[`Q`=02%..AK]0PO'&*^4/\`@LU\.9O&/[#^K^.-
M-M6DU#X?ZW8>)K783GRH)?*NQ@==UG/=#'J1Z5UX#B?%ULQHPQ%E3<DI66MF
MTG9N_0RKY)AJ="4H7<DG:[Z_*Q^;'BCX]_M!>/\`XIW?Q#U_X5>!FMK:WBM_
M"FF:[?SW\>E=#+.46)5DF=OX\C:HVC()-<_XX_:\_:/\6>.)_AE\5_C#;>$=
M$N(+>*Q;PGHKV9U>27AXQ>2F7RU&1'M5D<D\8XK9'E21B2*3*.,HPZ,".OT-
M5M;T33/$FBW7A[6[=;BSO(REQ`Q.&!_J"`0>Q&1SS7[Y'A3*Z7O4XWDG?WFV
MGY-)K[^G9GQ"QU5OWMO+H8T?P/\`A-'%Y$W@2PN@!AGU%6N7.!CEIBQR?KSG
M-;?AL_%OP)HL?@WX9_M`>)O#GANWDWV.AZ5':LMIGDI'+-%(ZQYY"9VKDXP.
M*X^V\8:S\)[VR\,_$?51=:)<'R-.\4W+8*2#_5P78`VH2!@39"L1AL$\]_#-
M%/"LT4JNC+D,IR"#T(QU&,<UZT<NRC&0Y94(IQW5DFG\K77X,KVU>&JD[/YG
M2_#O]I_XZ?!N[V>*]7OOB'X<>3?<QZA)"NKVBD_,T4JJD=PHZ^6X5N#M?H*^
MG/@MX@TC]LKQ;X6\*?#&7Q!)X8U-VN_%NKP:5=V1M[!87/D"=XU\J267RX_D
M._;OP1PU?-?[/?P,\5?M+?''P]\)_#?AZ74-,76;2[\;SQRB.&UTA)5><2.>
MAE5?*5!\S!FQT)'[.:+HFGZ%I\&CZ/90VMG:PK#:6MO$$2*-1@*H'``'``["
MOQKQ"S'!91COJ.7JTG&\]=(M[)=4[:M/1)JR1]+DF7_6Z:KUMD]/.W?R(/!G
M@[PQX!\,V7A#P=H=OIVFZ=;K!96=LFU(HU&`!_B>3U.36K38T*+@G)SFG5^0
MGUX4444`%%%%`&7XG_YAW_84A_K11XG_`.8=_P!A2'^M%`&I1110`4444`9G
MBZ/Q'-X8U*#PC=6T&K/8RC2YKM&:*.X*$1LX')4-@G':O'?V2/`G@N\M3XYU
MC6O$>L>-]*:33/$?_"6:U)=S:7?#'VE8$)\J!)6Q(K1`*\;)CY0%&Y\5_COX
MYT7XJ6_P0^%GPR;4-?O-,^W)JFO7PL=,6$-M;8^&DN)%ZM'&I*AE+$`YKYY^
M*'A#]J;3OC;J%[>?#[Q5J'B:^U#0)="\9_#:.33M*%N)U^VV]\IO0LZQQA@&
MFC8E6^4'`P`?;RHJG(]*6F1,6)W9S]:?0`8&<^M0:AIMCJ=A/INH6RS07$+1
M3Q.,AT8$%3[$$BIZ1NAXS0!Y+^QM>7>E_#"\^$&L7#/J'P\UZ[\.S-(?FDMH
MF$EC*?\`?LI;9CVR6';CUNO&M(D/@/\`;7U'2E!CM?'O@R.^''RM>:?*L+'/
M]XPSQC'I'FO9%.<\]^]``R!NI/YTAB4]2>:=10!S?Q,^$7PV^,7AB7P?\3O!
MUGK6GR\F"\BR8V[.C##1N.H=2&!Y!%?,?Q'_`&-_C/\`"-);_P""^K3>./#T
M663PUK%VB:M;1]UM[IR%N<=EG(8@8\P\5]@8!ZBD**2"5''2NS!X_%X"IST)
M6\NC]4<^(PM#$QY:D;GY_>'/&V@>)KF?2[:2>UU&R.W4-'U*W>VO+1AU66&0
M!EY[X*GL3FM;\*^J/C?^S)\(/CW''+XY\,E=3M5_XEGB#3)FM=0L7[-'/&0W
M_`&RC=&4CBOGOQ'^QG^UQX7FD@\#>,O!WBVS0YMI=?6;3;MU])6@1XBW^TJ*
M#_=%?;X#BO"U8VQ*Y9=UJO\`,^;Q.1UZ<KT7S+SW.:DE6"-IV8*$4L68\#'-
M>S_\$M='N-/_`&+O#6MW:()?$%YJ.LLR?QBZOIY5)/<[66O"_'_P<_;ETCPQ
MJFFV_P"RS!K%S)I=PMM<>'O&]DZ&4QL$&VZ\E_O8[5Z%\&_$_P"T!HGPJ^%?
M[+_PC^%GBGX?ZEH^F6UGXFUWQ=X22\L8(;>S_>>6\=SY<A>?:H.\'!)Q7E<3
MYEA<;3I1H34E=M_H=N38.OAYSE5C;8^N**\6UO0_V]K#2KR#PY\0/AKJ5PUK
M(MG<7VAWEJR2E2$8JLLBD`X)'?I7GWP9UC]O'XB:'-HD_P"TSX)M_%WA\BT\
M5:+JOPW=6@N`#^]4QWJ[H9?OQR!0&4]`017R)[Y]55X?_P`%*+E+?]@_XJ1-
M/Y9N_"%U9H?5IP(0OXEP/QH^R_\`!1'3+':OB#X1ZM..COIVHVF[GT$DF/SK
MA_CE\.OV[_VA_AP/@YX^^'?PXLM+U#7-,EU;5M)\67C.EI!>PSS!89+7YF9(
MR`-XY;K0!]/:)IT&CZ-::1;`".UMTAC`'\*J%'Z"K5-CW!`'.3W.*=0`PPIC
M&".G0U!JFC:5K=A-I6KV$5S:W$313V\\89)(V&&1@>"""00>M6J*`/!?$O\`
MP3)_8B\3ZMHVJ7'P,L;./0X98;73=)NI[2SECDC:,K+!$ZQR$!MRL1N5E4@Y
M45?\/?\`!/+]DG0YS-J/PN'B!$3RM/MO%FIW&K0Z="/NPVT=T\BP(N3@(`>3
MR:]KHH`^=OBU_P`$^/@VUI9^-/@CJ.H_#36O#5U_:NER^$O+%D;J.":)99;"
M56MI'$<TJA]@;Y^2<`5S7[.'_!4?X(>-O@7X,U_QOJ/B^^\27GA#3+GQ')I7
MPKUR2#[=):QO.4,5F4*&0OM*DJ1T.*^I]2@^TZ?/;[<[XF&`0,Y'O7C?_!//
MQ';:I^Q_X$\)3LT6K>$/#=GX=\0:;.A2?3[ZR@2WD@E0\HPV`^X8$9!%`%;3
MO^"AWP#U<R#2_"_Q0G\IL.8_@SXCP/SL:Y/]BWXG:%\2?VH_CEJV@:7K<5O/
MJ6BW*3>)_#EUI=ZNZQ">2L-U%'(8%V95]N"SR`9KZ@XS7S]\-1-XR_X*"_$+
MQIX3,<>C^'_"&G>'?$,@5F-]J@=KI%!)PGD0S`'`^8SC.-G(!]`UXO\`%_3S
M?_ML?!F3Y?\`0_#WBVY^;_<TV+C_`+^U[.QXX->-_$VZ6#]MOX4)<.%6;P?X
MKC@+'AI-^DMM^NU2?P]J`/9%Z5@?%/X?Z3\4OAMX@^'&M1AK37]&N;"Y4GC9
M+$R'I]:WT(QP?UI3C!H`_!O_`(0_Q;\*-?U+X'_$>T^R^)_!<\>F:Y:%PV"L
M:M!,I'#1S0M',C=U?G!R!/N_V3^5=]^VYINM:=_P4.^-$OBFUMTU&]UC2KBW
M>V!V-IW]DVL5KR>=V(9-X[.6(X-<#DG@8_.OZXX9QM;,>'\-B:K3E*"O;;M]
M^FOF?E.9484,?4IPV3?^9%?6=CJ=G)8:C8Q7$$J[98ID#*P]"#P16+^SK\,/
MBGXY^..A?L;>!M\DFMSB71/$LML/+TK2E9C=-)N^222V7&Q"07#H.2#6\Q51
MYCE0%&=Q/2OL/_@B+X3T?Q1\2?B=\6UEM[@Z1;Z=X?LV`#E"\9O)G5NP82PJ
M1W\H>E>3QSFU3),BGBZ$N6J_<B_\6_W)-KLTO-/KR/#K%XY4Y*\=W\C[4_9G
M_9@^%G[*_P`.8/AU\,=+=$#>;J6IW4GF7>I7!'S3SR'EF/0#[J@!5```KT<#
M'>@`#H**_F"I4J59N<W=O5M[MGZ5&*BK+8****@84444`%%%%`&7XG_YAW_8
M4A_K11XG_P"8=_V%(?ZT4`:E%%%`!1110!YW\>?A!XC^)=QX<\4>!?%\.C>(
MO".K/J&CW%Y8_:+:8O;R020S("K%&23.58,&52"<8/E7[0'QI_;$^&'PDUGQ
M)KL_PR\+RV%I+<VOB`ZO+<+=-$"PM8[69$S+(`1G><9X!.*]0^-_Q*U^QU2U
M^#/PQ"2>,O$.GSSV$DRXATRT0K')?RD\,$>1`L8RSNRC&W<1E?#/]BOX/_#G
M4=-UB8ZMK\^DZ>UOIL7B759;Z"TDDV&XN(HI25269HU=VYYR%VAF!`/2O!VM
MKXE\+Z9XBC4JM_I\-R%=2&7S$5\$'IC/2M2F11>4,`C'8`#`I]`!1UJ-YU23
MRRO/M3O,![<T`>/?M3P2>%/$_P`-/C7"`H\.>.(+#4Y/2QU-&L'X]IY;5L]@
MK$\<U[$G<=NU>?\`[4OA:;QS^SKXQ\.V41:ZDT*>:R`ZBXB7S8B/<.BD'U`K
M;^%WQ!TOQY\/_#WBN#4(7DUK0[:^1%D`9EDC5BP'7&6Q^(]:`.FHJ&XO[6U*
MBYG2/>X2/>X&YCT`SU)]*DWC..WK0`ZBBD9@*`%HIOFC&0,\9ZTZ@`HHHH`*
MX3XM_"C4O%<UMXX\!:G'I/B_2%)TO4V3,=Q&3E[2X4<R0OC![H<.I!%=W2,,
M@CVH`Y'X._%"W^)VBWDL^E/INKZ-J#Z=X@TJ9PS65V@!9-PX=2&5E<<,K*?8
M=?7B>I:M_P`,]_M`>)_B9XWLYD\)^-K;3(WUNWCW0Z1=VR2Q'[4!RB2*\>)\
M;1LVN1P:]+\>_%'P;\-_A_J'Q,\4:J(](TZT^T2W$"&4R*?NB-5R9&8D!0N=
MQ8`=:`.@W#IFEKQ2']H#]I>T)U3Q%^Q1K?\`9COE5TKQ9IMS>Q1`??>`R("?
M1$=FKT+X3_%[P?\`&3PJGBOP>]RL8G>WO+*_@\FZL;A&*R03QDYCD5A@@\=P
M2#F@#J:***`"BBCIUH`;*NY",`_6O!?AI"WPU_;G\9_#SPU*+C1_&7A6'Q9J
ML:(&;3M429+-MS]<3Q!&53P/L[D``UWGB/\`:C_9^\*?$RY^#7BOXK:1IGB2
MUT;^U9]-U"X,.VTW!?,\QP$SEA\N[=@YQCFOG_X(_M3_``UE_:,^+7Q/T'PK
MXSU6PU34M/TVP.B^!M1NTNEM+;#W:3K#Y;0OYN%"L?\`5EL?-0!]=R+(=S1#
MYMN%)/&:^6O@/X=_;S^!'P_D\(1?L\^"=;UF^U[4=4\0>))?B$\/]J7-S=2S
M-/Y?V-BAVLBA,D(JJH)"UW^L_M[?`.UTY+;PE>ZKKWB2ZG$&F>"K;1Y[75[R
M8YRBV]VD3(H`8F23;&`O+=*[7X.?'WX>_''1I-0\'W-W;WMJ=FJZ#K%F]IJ.
MF29(,=Q;R`/&<C@X(;@J2"#0!YIX-_:._:3TO]HCPK\'?CW\%?#/A_3O%VFZ
ME+IFJ:-XIEO66YM$CD\A@UO&NYT=V`SG$3'M6=^VO\7_`(2_"GXO?!/XF>+O
M&NG6S:)\0+RROHS?QK+';WFAZC'RI;.//6VX]<5\[?MR?L::/X6U/3/B'XQ_
M;ZUK2-:TGQ%+XC@TVSOI;+4-9M\O"`[I<DN\)N$1)$6&%%XD4KFOIC]E3]D+
MX0Z+\"O#MM\1?"?A#QAXB2$3ZEXE_LNVN7NIO,=XF:8)B5T1E0R`#<4+8&<4
M`?*/Q\_X*9?%'5OB=IFJ>&OVB;SX=^`_&'A%=0\*6EKX+L[_`%>.X@D\J]MK
MF&19I8YU=E956-E,8)[5ES?%[QGJUS_8GQ/_`&VOCI;6][;+<VNH:II0\.Z?
M>1DXS%=)IT(Q["0'ZU^C-A\#/@_I?C&7XB:?\,=!AUZ=0LNL1:5$MPRA`@&\
M#.-JJ.O11Z5N:YX9T3Q/I,VA>)-(M;^RN4*3V=Y`)(I%]&5LAA]:]/"YA1PT
M5&6'A/NW>[_3\#BKX2I5;:JR5^B>B/R6^)?[$/\`PL;Q9:?%SX2?'+4AJ%[I
M8M-2U/Q;J=YXB&HP(Q,,BO+=90H2X&T[2&Z<`UQ&C_LC>*?$7B&;PK9_MK^&
M9;^!F6>PTSPK`TRLO#`![AOF!X(YQWK]"K+_`()A^'(OBKXGUAOB[JFF_#W6
MKR&XT[X;>&;&+3K:Q(A5)X_M"9E$<LFZ5EB,>6<\X)!]+U?]B+]FZ?X1VGP9
MT#X;6.BZ5I3>;H,FE1^7<Z9<"0R+/#+]\2;R2220V2&R"0?KJ7&\\'1IT<*I
M1@MTI-)=^6W_``$>)+(:E6<I59)OH[7;];_\$_,'QM_P3=\>>(O`>HZ%9_M4
MZC_:5U:-%&9_"=@MHV[@AQ&HD"X)'#9SS7U1^P9I'A3]EC]H"/X:>$M#TK1M
M`^(VFCS[33;%+>'^V[.%<,JK@!I;</D$9)A'-0^,/"OQ?^!_CJR^'WQCTRRN
M;35I9X?#?B_3YP(]1>,;Q%-!C_1YC$"V`2IV-M/056\7>'&\3:/]EM-2EL+Z
MVN(KO2-3MCB6QNX6\R&=/=7`R#PRY4\$UZV.G'B3+I251S=M')MV:Z:MV//H
M2K95BTI1M;>RW3]#[_$BD[0>?0BEKQW]E7]I:3XS07O@?QUI<.E^,]!BB?4[
M*&3=#>V[C"7MN3UB=@ZE?O1NI4_PD^Q5^65:52A4=.HK-;H^UIU(58*<'=,*
M***S+"BBB@`HHHH`R_$__,._["D/]:*/$_\`S#O^PI#_`%HH`U****`"BBB@
M#RW]H?P3XFOM<\(_%GP'ICW>K>"]9DNKFRMF"SZCITMO)%<6B,W!+,T,H4_>
M:W49!(-:'PM_:1\&_%'Q1-X*@\.>)M"U:.S-W%I_BOPU<Z;+<6X<(TD0G4"4
M*Q4-M)*EER.0:]!V)DG:,GKQ7E_QM^"GC[Q]\1_"_P`1_AS\3HO#%[H.FZGI
MUQ<OHR7KM;WC6K,\*R,(TF5K1`KNKJ`[`HP.*`/4:SO%7B?1/!OA^\\4>)=4
MALM/T^V:XO+J<_+%&HR6/X#MS7@OQ1^*O[9'PKD\-^#TTKP=>?VGXML-$MO%
M-_/+YFI+*Y9G-I&%6&001RLQW[2ZX5<,`-/]KO0]=^/=OIO[.?PR\:ZEI>NI
MJ]GK&KZEIL5M+;Z?9P2APMXES#+'*DI`"P!0[E=VY55B0#QKP+\:O^%A_M7^
M(OCG\:_BMJ'AW3O`QLH?"_P]TR[N#<7'VZT=XH[FUB9OM,[QNLGE",LK.@S^
M[Y]/^&WP5^*?QBD\1?%3XG?%;XG>&GU#Q'<S^!]%?5HK,Z/8_*(#):Q)L=B0
MY\NX\P[2`PSFO7])^"7PMTGX@3_%B#P/IO\`PE%W;QPWFN"S43RJB!5)/8X&
M,CG``Z5UOEQ\'8/RH`\8E\(_MIZM`W@JZ^)?@FRL8X_+?Q3#H,D][>H<Y)M&
M<0Q/ZG<ZGG"KV\:L_P!A'XY?!F6Q\8_!=O",.N:%!+!IE[HAO+:]DMG*EK9S
M?37,,T)\N/\`<MM5=HV/'UK[-"J#D**"JDY(%`'RS\,I%_:1\92>'?VM)6TK
MQ7IMH8=$\&-;SV#VS#[^IP.6*3S'`VR022I$%(#Y+5Z?X<^*&O\`PCUNW^&O
MQXU<21W$HB\.>,Y8Q';ZGZ07##Y8;H#L<++C*X.5'2_&KX467Q7\*?V7#>?V
M=J^GW,=]X>UR&(--IM[&P:.5?521M=<@.C,AX8UQH^)KSO\`\*<_:Y\":5I[
M:N?L]EJ32)-HVN'`/EHT@!AEP-WDR`'@[&?:<`'L$<YD0.F&4C(8=#7D'Q%T
MC]K;Q=^T%HZ^#M<TCPY\.O#]O]LOY5<3WOB:[:.519,K)BVMD;8S2*2['I@`
MUR_Q>^&&F?LH>"I?CG\(?'OB/3H-!N[>6\\*WOB.XO-,U"R:9$FMHX+AG6!]
MCLT;1;"'50?E)%?0]NRRIOQQVS0!\X_`G1?VXYOBQ8Z]\8[V[M++RYSXDMI-
M2L+C29EVGR(M/BA1;B)E8@M+*?F4$$$GCZ.GN8K2V>ZNY4CCC0M([L`J@#DD
MG@"I-JCMUZUD?$'P3H7Q'\":Q\/_`!+;&73]:TR>QO8T<J6BEC*-@CD'!.#V
MH`9X,^(O@GXAP7%YX&\5:?J]O:W+6]Q/IUVDRQS+]Z-BI.&'I6W7SG\*?@3\
M<?A!X^LO&FJS^'&T7P_X8N;">U\*V$D5[X@1%4VOG18$7FH%;!7DLYY`-<EX
M%_X*$?$R+XJZ;X9^._PZLO`NDWNCWNJWT?B1)K*]L;:%-PVK*<739PI$0(R&
MQGN`?7-'6N'^%?[1?P5^-%K%+\./B1I>HSR1[Y-/%R$NX#W22!L21LO0JR@@
M@@XKN*`(;NPLK^VDL[VU26*5"LL<B@JZD8((/4&O*H_V-/A=:>);*_TO7?$5
MKH-EJ,>H)X'35=^C-=QMOCE$,BLT85\.(XW6+<H.S->MT4`-5%'(/Y&O&_CI
M';_!'Q_HG[0VAK]CTZ;4H]-^(*PX$=S9S?NX+J5>FZ"8QGS.#Y<C@DC&/9JH
M>)_#>@^+_#U]X7\3Z1#?Z?J%J]O>V=P@9)XV!#(P/4$&@"Y%+YO*D$8ZT^O)
MOA)XFUWX7^.+?]G#X@ZC<7S365Q=^"=:F<R/>V$#('MYVZ^?")8UW-_K%PV=
MVZO5W8+@]?3%`#9[F*U4RW$BI&HRTCG`7ZFO$]'_`&Y_A[\4[S4/#W[-GA77
M/B%J%E=O:R76EZ7-;:2CJS([-J,ZK;LJ.K*PC:1]RD!"0<87Q/TW7/VMOC[J
MGP`U2[N++X?>"/LT_BQ=+UJ2-_$-Q<0LT=C+Y(#1Q1$!W0O\X905(->[>!O`
M/@KX9^&;;P;\/_"MAHVE68;[-I^FVRQ11[B68A5``))))[DDT`>??"W]GRUE
MN=3\?_'?1-"UWQ=KMZ+B[E6Q$MOI\,9(MK:#S5SB)"`9,`NQ9B`"`/5([6&)
M0D2[0```O'`^E/"J.@I:`(C8VK2B<P*7'1BH)%<=\3O@#X#^*=S#J^I3ZKI6
MK6V1;:[X=U62QO8T/6,RQ$;XSW1PRYP<9`([:B@#QFU_8`_964:M%K7PY;6X
M=9M8K>YM_$>IW&HI$D8;!B^T.YB)+LS%2"6.>M;W[-?[+W@']EKPSJ'A7X?Z
MUKE];ZC>K<S/K=\LS1E8EB5$"(BHH5%Z+ECDL6)S7I%%`!1110`4A4'K2T4`
M?&O_``6$^(>O_"3P9\/_`(F#P%JNO:!H/BUKK6HM+P&BD:VD@MV=F^6-`\Q8
MLQ"_)@D9S7(^'M7.OZ#9:Z=/N+3[9:1S_9KI`LL6Y0VUP"<,,X(]:^S_`(R?
M"GP9\;_ASJWPK^(6DB^T?6K7R;VV;/(#!E;CG*NJL/=17P_>67Q(^"GQ$M_@
M;\<X;$7DVGB;PWXCMKW,>OQHS+(-C*ICN$55=T&[Y7W`D"OM.$\PI4W+"S=K
MNZ\WUU^X^<SW"SE:M%7MN;GP_P#B%#\`?CYI'QCU%4;1-4M8O#OB:5^EA!+<
M!H+S/9$F8*YZ!)-Q^Z<?=-O.+A1(C`JRY4@YR/6OA*^TZRU>QFTG4[5)[:ZB
M:*>"4961&&"I'H0<5[__`,$Z?%VO^,?V5M%N/$>H274^FZEJ>DQ3SL3(T%I?
MSVT6XGJ1'&H)[XK/BW`1I5XXF/VM'ZKK]QID6)<Z;HO[.WH>Y4445\>>^%%%
M%`!1110!E^)_^8=_V%(?ZT4>)_\`F'?]A2'^M%`&I113?,)^ZA.>]`#J3(!Q
M_2FM,%`.T]LCTKY=^.O_``4R\(Z/\7!^S7^R9X+D^+WQ*M;AU\0>'M#GDCM=
M#C1-W^F7HC:&W=R5159AD[LXVF@#ZC\V,MLW#([5YU\6/VH/A1\+;V7PI<>)
M+>_\4>1NL_#-E*&NIV/W01TC'<LY`5<L>!7CGB&S_P""DWQ_L-%O=.@LO@W;
M7>EL=5TZUUZSU"ZM[GS67$K_`&282(8PC)Y#Q$$MN;H!U_PS_8(\$^'M,2'X
MM>-]5\;2M+Y]S9WP6WTZ6X/+3/;Q_-<2$Y.^YDG;D@$#B@#CO"S_`!9_:!\8
MQ>-O#=[8ZWJ5A<DV7B2ZB<^&_#+$%'73HB0=3NP&*FY.(Q\P5E!*'Z#^%7PK
MT;X6:%+IUE<3WU_>SFYUG6;U@USJ-RWWI9".!Z!1A54!0`!71:;IMGI-E#IN
MG6D5O;V\0C@@@C"I&@&`J@<``=A4]``.****`"BBB@`K-\4>$O#OC70KCPSX
MMT2VU+3[M"ES9WL*R1R*>Q5AC\>H[5I44`>5^&_V//@SH&N0:Y>V.JZV;"0-
MHMGXCUN>^M=*"G*K;PS,R(`>C$%AT#```>I1*R#:WX4ZB@`HHHH`1P2N!7SW
M^V)^PEH/[1FKV_Q5\"1>'=&^)-GI3Z38>+_$.CS:E%;6$@E#Q_9%GBBE<":3
M8T@;878@<XKZ%HH`^4U_9O\`!7[&7AG1_P!HOXE>//'/Q)\0^$[.TTJQMKJ>
MRS+=7L\%EF!/*B(+O*H`EF8*I.3GYJ]R^&W[0WPL^*&H2>'=&UN2PUVU.+[P
MSK=L]GJ-L>^Z"4*Q7T==R-U#$5P_[3-AIVK?'SX0Z)XKDDNM#O\`7KM9-'>4
MB":^AMQ=6L\BC&\Q/"64'(#$'&0*H_M?ZMX(\4VH\"^!-)DUKXK:>%O?",6A
MVRRW6E7*'?%-<R\+:VS,-K^8P#HSJH<\4`>_AE)P#2U0\.OJ\VCVD^OV\,-\
MULAO(8'+(DI4;E4GJ`<@'TJ_0`4C`E2!Z4M%`'DO[3WASQ)I;>&/CMX*T*[U
M35?`VJM/+IFGV[SSWFGW*K#>1QQH"SR!-LBJH))BP`2<5U?PT^-7PO\`B[9R
M7'P]\9VE_+;8%Y9,K0W5H_\`<F@D"RPMGJKJ".>*ZYE#C!]:X7XE_LU?!7XO
M72:EX^\"6MS>Q\)J-M)):W6/0S0,CD<#C..*`.3_`&8+>RT7Q_\`%?P]JL$<
M6OR>/7U#4B%"BXMI[>+[)*%[#RDV$]VC;\/9ESM&1VKS/X5_LM^$?A-X_P!2
M^(VF>-_%FK7M]I4>F00Z_KSW45E9I(TJ0Q@@%\.S$22F20`E0X7BO30,#!-`
M!1110`4444`%%%%`!1110`4444`%<!^T7\!=$_:%^'K>"]5U*;3KNWOH+_1M
M9M$5IM.O(7#QS(&X;NK*>'1F4]:[^BJC*4)*479H4HQDK/8_._XF>)[W]FWX
MH)\"_CIKJ7NMWNG'4?#FIZ'H5RT>LVP=8RJPQB4QW"N0IB!.\$,O4@?4G_!/
MCX=ZW\-?V7=#TSQ1I.HV&K:G<WFKZI9:H&6:&>[N9)V4HW,7W_N?PYP>:]DE
MTNQFNTOY;.)IX@1%,T8+(#U`/:IHXRIR37I8[-\5F&'A2K?9Z]7ZG%AL!0PM
M64X=>G;T'4445Y9W!1110`4444`9?B?_`)AW_84A_K11XG_YAW_84A_K10!J
M5\QZA_P]<\(^+(O#&@O\(_%^CW=]=SOXHU**[TN73X&2<P0-:QM()V1_LX,B
MLNY?,^4'!KW?XE?%[X7?!O2(_$?Q9^(VB>&=/FN!!#>Z_JD5I#)*02$5Y64%
ML`G`]#7&_P##=7[$N=W_``UQ\-?K_P`)O8__`!V@#.T?X4?M1>+=5GG^,'QX
MTNUTPW]A+!H?@[0!"DT"6KQWMK<37+2.\4TTFY2FQXQ$@#'+5U_P'_9N^!?[
M-'A`^"/@3\,=)\-:=))YMS'IMN`]U*>LLTAR\TAZEW8L<\FL#_ANK]B3.1^U
MS\-?_"WL?_CM*/VZ_P!B4=/VN?AJ/^YWL?\`X[0!ZKL'&">*=7E'_#=G[$W_
M`$=U\-?_``N+'_X[1_PW7^Q/_P!'<_#7_P`+>Q_^.T`>KT5Y1_PW9^Q-_P!'
M=?#7_P`+BQ_^.T?\-U_L3'I^UU\-?_"WL?\`X[0!ZO17E'_#=G[$W_1W7PU_
M\+BQ_P#CM'_#=G[$W_1W7PU_\+BQ_P#CM`'J]%>4?\-V?L3?]'=?#7_PN+'_
M`..T?\-V?L3?]'=?#7_PN+'_`..T`>KT5Y1_PW9^Q-_T=U\-?_"WL?\`X[1_
MPW7^Q/C/_#7/PU_\+>Q_^.T`>KT5Y1_PW9^Q-_T=U\-?_"XL?_CM'_#=G[$W
M_1W7PU_\+BQ_^.T`>KT5Y1_PW9^Q-_T=U\-?_"WL?_CM'_#=G[$PZ_M=?#7_
M`,+BQ_\`CM`'J]%>4']NO]B8=?VNOAK_`.%O8_\`QVC_`(;L_8FZ_P##77PU
M_P#"XL?_`([0!VOQ(^%7@3XM:%_PCOCS0DO;=91+;N',<MM*!A98I%(>)QV9
M2"*K_"CX.>"_@WX>DT#PE'=RM<W+W.H:EJ5VUQ>7T[=99IF^:1L``$]``!TK
MDO\`ANS]B;_H[KX:_P#A<6/_`,=H_P"&Z_V)_P#H[GX:_P#A;V/_`,=H`]6"
M@'(I:\H/[=?[$PZ_M=?#7_PM['_X[1_PW7^Q.>G[7/PU_P#"WL?_`([0!ZO1
M7E'_``W7^Q-_T=U\-?\`PM['_P".T?\`#=G[$W_1W7PU_P#"XL?_`([0!ZO1
M7E'_``W9^Q-_T=U\-?\`PN+'_P".T?\`#=G[$W_1W7PU_P#"XL?_`([0!ZO1
M7E'_``W9^Q-C/_#77PU_\+>Q_P#CM'_#=G[$W_1W7PU_\+BQ_P#CM`'J]%>4
M?\-U_L3=/^&NOAK_`.%O8_\`QVE_X;K_`&)_^CN?AK_X6]C_`/':`/5J*\H_
MX;K_`&)O^CNOAK_X6]C_`/':/^&Z_P!B?_H[GX:_^%O8_P#QV@#U>BO*/^&Z
M_P!B;_H[KX:_^%O8_P#QVC_ANS]B;_H[KX:_^%Q8_P#QV@#U>BO*/^&Z_P!B
M?_H[GX:_^%O8_P#QVC_ANO\`8G_Z.Y^&O_A;V/\`\=H`]7HKRC_ANO\`8F_Z
M.Z^&O_A;V/\`\=H_X;L_8F_Z.Z^&O_A<6/\`\=H`]7HKRC_ANS]B;_H[KX:_
M^%O8_P#QVC_ANS]B;_H[KX:_^%O8_P#QV@#U>BO*/^&[/V)O^CNOAK_X7%C_
M`/':/^&[/V)CT_:Z^&O_`(7%C_\`':`/5Z*\H_X;K_8G_P"CN?AK_P"%O8__
M`!VC_ANS]B8G`_:Z^&O_`(7%C_\`':`/5Z*\H_X;L_8F_P"CNOAK_P"%Q8__
M`!VC_ANO]B?_`*.Y^&O_`(6]C_\`':`/5Z*\H_X;K_8G_P"CN?AK_P"%O8__
M`!VK_A/]KW]E;Q[XDM?!_@;]I+P-K&JWTA2RTW2_%5K<7$[8)PD:2%F.`3@`
M]*`.T\3_`/,._P"PI#_6BCQ/_P`P[_L*0_UHH`\E_:JLK2_^,?P,MKVTCF1O
MB/<YCF0,I_XDVH=B,5SFJZ-\=_BI^T/X[\`?#+XH>%O!^C^$$TN.&"?X=PZG
M+<O<VWGN[2/<1[<'Y0`N,"NG_:@X^-7P+;(X^(USP3C_`)@VH?XUE?#OXD_#
MWP1^UW\9K;QIXYT?2);A_#[P1:IJ<5NTBC3L%E#L"1GC([B@#D_CQ\./VN?@
MO\$_%WQ?@_::\(:D_A;PW>ZJFGS?!ZVC2Y-O`\HC++>94-LP3VSFK_[6G[>7
M[-?[%?C_`.%_PW^,OA$?:_BE;:N="N[6Q@\E;C3[:&=H7+D$-+YX5.OS<'&:
MWOVV?CE\%M3_`&.OBIINF_%WPQ<7%Q\/=8C@@AU^V9Y7-E*`J@/DL3P`.I.*
MXO\`;U_X)F:'_P`%!]6^'WB+Q!\1I=`A\&^$O$FGVIM;+S+A;K5+:S2"\BDW
M#RG@>U#\?>#$9%`'?_LY_M>_L>_M)Z'X13P7XS\&P>)_%O@NP\36O@*[U.Q_
MMNVL;JWCG1I;16,@`21<MMV^]>1_`;_@J[^RM\7OC)J?PF\<?";5?AY;0SZ]
M'X=\6^,["U@TC7_[&NGMM2,%RK%8S"5#LLI0[&!^OG_[&'_!".;]DS]I#P-\
M:9OVA;36],\%:;:R1V/_``B,4-_=ZE'H%OHCLUYYA;[(8H/-$&W(D8G<:9X>
M_P""(7Q7C\4:QKOBS]LDS6NE77BN[^%FF:7X3C@31+CQ!?FZOI;MVD9[L[`D
M*[3%L&77#A2`#Z$\`?\`!0/]@KXD?%3QQ\,_#/Q3\"S1_#_PYIFMZ_XA_MBP
M.G):7VXQ.)P^W:`(RS'"CSHQGYA7I/CO6_`UW\!]:^*WPS70=0MO^$3NM4T/
M5].B@N+>X`MGEBEC=04D0X5@1D$>HKXA^`/_``01\2_L\?"'QKX`\#?M-6%M
MJ7C?PM966I:M#X/7S$O;;6)[]9%E:5I?)>*<P/\`/YV56195901],?!W]FJZ
M_8Y_X)IQ_LQW?BI-=D\'?#?4;`ZK%;-"+H^3.^X(S,1]['+$\=:`/F+X?3?'
MCQ=X`T+Q9J?[6GCM+G5-%M;RY2WTKPZL:R2PH[!`=))"Y8X!).,9)KTG]DO5
MOB79_M<:1\-_&GQ@UOQ?HNK>!=9OYK#Q'IFD[8KBVNM,2*1&M+&!@=MU,""6
M!R..!7E/P<^*WPLMOA!X3MKGXF^'8Y(_#&GK)')KENK(PMHP007R"#QBO1OV
M3/&'A#Q3^WGX8B\,^*M,U)H_AEXD,JZ=J,4YC!O=%QNV,=O0]?0^E?IN=99D
M]'(YU*5.*G96?7=7/SC)\QS6MG$*=6I)Q;>CVV9Z=^UE_P`%)OV#_P!D_P`$
M>+_$&N^*=$\3ZUX*LTN-:\'^"[>+4M4MM^"HFBA#?9LJ3(6F*`(K.>`37$?$
M#_@KA^RG\.OVDF_9CU/X+Z]<:PWA>/58-3AT:W^QR7,MDE\ECYA;(D-NX<R$
M>6,$$Y!JYK__``1C^#?A[X5?&7X7_L^?$?Q!X2TWXQ>$K_2M0T&\F2_TS3[N
MY+,;V%743AM[RLR&8JQE.`H``BT+_@D3:V'_``40T/\`;@UGXRB_TK2?#26<
MW@F?08V2ZO1HO]C-*TS,?W!MR6\K:3O/WL<'\R/T<]R_9O\`C?\`"/\`:8TB
M^UWP-X$\FSTQ+..YGOK")<7,]LERUOCKOCCE@9CC:?.7:3SCY@_X*D_%?XO?
M#3X]>#OAY\(?B3=^$-.OO"5[J%\NB:/IDCW,R7,4:;C=VL^%`8\*!ZYKV[]E
M']@_Q%^S7\7=>^)EY\9I]9B\0123:A8BT:%9;R8Q&5BN\HL2&$M$BJ/+^T2K
M]P(J_-7_``6*\0Z#H7[5_@*77-:M+%'^']^L;WERD08B^A.`6(S^%?4\%87!
MXWBG#4,5%2IR;NGM\+W/'S^M6P^4U:E%M225FM]T>.+\<?VKBP#?M9^+NHZ:
M'X>S_P"FNOM7]C/]H"QM_P#@F]9?M2?M&RMKEQH]IJTVM:G!X?B>[O$M;^Y@
M0+!:PJ'E98T7:B#<QZ<U^>R_$3X>[U_XKW1.O?5H?_BJ_0__`()-:;'XJ_X)
MM^&=-M;V,1:@_B"*.=/G4K)JEZ`XP<$8.?>OT#Q2R3(<JP.&EE]&$)2DT^7J
MK:7/FN$,?F.,Q-58F<I))6OZG%^`?^"P_P"R3X]^(OPO^'%G\$/$EM-\4/!D
M'B*QO9]"M_*TR.=+Z2WM[D!MXE==/NCA5(4Q@$Y(KV/]FC]JSX)_M0ZS-H/@
M_P"&DUE<6>G->:G]OLH`MJAEV0@D9#&5?,8%<@>5(K8*XKP7X.?\$2[GX5_M
M!_!/XUR_M&/=VGPG\(V&E:AHJ^'D!U>XLAJ2V\RRF0F%"NJ3[TPV2B8(YKTG
M6_\`@F'I7BOX[^(OB+XD^()'AOQ2D]MJOA_1XIM.D33S!+#'90RV\J"*,F=I
M)&50[/#"P*L'+_BQ]Z=IXU_:Q^`'@C]L3PA^Q3=^!;JY\3^+]#NM6AOK?0?]
M`LX(5<A9;@KL\Q_+D(C4E@$+$`$9\H\*?\%</V-_'/BWQ3H'A;P+=7>G>#O'
M5SX8UK7X]/MS:K)!':%[B/!)FB#WD2G:"0HD?&U":ZOPU_P2L^#OPQ^(_@'Q
M'\'-<U71M"\'S:]/>Z5J&M7FI7%[-J=E#:,ZW-W-(\6Q85(7E<Y(`))/FGP.
M_P""&O@G]GWX7?%+X0^"?C]XFO\`2_B'XDL+JRN/$LHO[O1]/AM8K6>"*5@&
M$\T*R1FX7:VPQK@[.0#[&^'4OA/XA>`M'\=Q?#^WT]-8TV&\2RO+.$RPK(@8
M*Q7*D@$="17X;_\`!6[_`(.!?VY?V*_^"@/Q`_9I^#'A'X6'PWX9N[>+3FUG
MP4]Q<D/;QRG>ZW*!OF<_PBOVN_9:^".N?L^_!ZQ^&NO>,O[:N+:XGE:XCB:.
M&)9)&<0PHS,R1J#A06.*_ER_X.([:XD_X*__`!AD6%B/[1L_NJ?^?&"OT[PD
MR3).(.+OJN:TU.E[.;LVTKKEMJFGU?4XL?5J4J'-!ZW1]$_LM_\`!S3_`,%%
MOC!^T[\-_A%XO\'_``?.D^*_'^BZ-JAM?`4D<HMKJ_A@E*,;HA6V2-@X.#V-
M?LGXI_X*9?LI^%=3^.VE2?#Z_=O@)HEC?>(+BYT5+9-5DNS<I%;6)E"^>YEM
MFB!'RLY"J2:_EB_8%MKD?MW?!(M;2J!\7_#!R5/&-6M3FOZK_C3_`,$\M>^*
MGQ*^,7Q0\._%JPTK4/B7X5\,Z;I<>I>%8-2@TJXT>>ZFCEDAN"8[A)&N`"A5
M2`I(;.*]/QFX>X>X<S[#T,HI*G"5*[46VG+FDMVWT2)R^K5JTFZCN[F-\//^
M"D_P&\=IX=M[OX`ZOI-]XD@M!I^G7-M92R&ZN'@(@+12-'Q#<12^8&V'YT!W
MHRU[K^T#\2_@Y^S=\(-=^,_C[PL)M-T"Q:XN;31]$-W=W!Z+%##$I9W9B%`Q
MU89(&37SKI__``207PU^S+\*_@'X=^)VF3S_``W@EDNKV_\`#Y2'7+AI6FCB
MF6"1)%M8WFN,0K)_&#D$9KT'PG_P3!^`?@C4M2^(.D:KXGOO'6J^%+C1]0\5
MZWXMU"Y%W+-9_9I;N2T:;[,'?[Y"1J`Q)7%?CQWGC^E_\%I?V/-9^(/AKX<V
M'P7UY[OQ3X"TWQ'8W#:9:B"*74+0W=K8R,7RKM"I9I,>6F/F88KZ/_9H^/OP
MF_:?LM6O_!WP[%K%HLL-O?O>64.U;ME)E@4KG<8R!EA\K!E*D@U\\?!S_@C!
M!\.OVB?@_P#&CQ5\8]+UW3OA/\-;3PQ!I+^";6.YOGAL'L7+W>3(UK(DAD:"
M3?AP-K!<@^M_LK?L)>(/V</C-KWQ3N?B\^IV^MQ7?FZ7;6)MXY))YXG0.H<H
M([:*W2.!45=OVBXSD,H4`M?\%!=5U?X=?`6+4?AK?Q^']1U#Q9H^F-JNG:;:
MO/!#<7L<4IC\^*2,,58@%D;!YQ7AA\!?%_&!^UY\0_\`P7^'/_E17M'_``5$
MO;;1_P!FFTUO5)Q#9V7CSP_<7MT^=D$*:C$SR.<?*J@9)Z"O`O\`AKO]ET]/
MC_X3_P#!U%_C7X_XCYCQ'@LQHQRZ=11<+ODO:]WO9=C[WA#!Y1BL+5>+C%M2
MTYNUO4]&_9)\5>+]`^*OQ+\+?$KQOKOCO2?#?@G3-<LX]2T+3Y;Z.21]06:*
M%;&T@,I9;:/:A#,6X')KSJ'_`(+M?LAVFM:#X3\8_LP^/O#^KZCJLUIXATG5
M_"\$=QX<C6>RMTENDW[OGEU&S3RU!D4RX900<=E^PWXUTCXN?'WXM:M\%/'F
MF7;2_#O1+.PURW47=K:WHFU4KO`($FPO&S(&&00,C->3>%_^"!/Q4GUWX<^)
MOBE^V)8ZMJ7A'5)I/$NHV/@H0W/B*W?6K'6@TLKSN?M1N[&,-.V[,7R!1C-?
M?<)5L9B.'</4Q;;J-.[EO>[W/E\[IX>CFM6%!)03TMMLCZU_9N_:L^#'[2WB
M:7PEX3^&<EI>6>DOJ&J"]LX-EG&SQ?9U+*<.98Y2XVY"&*1'VLN#F_M;?MH?
M"#]C_P`;^#/#/C3X`>)=8TSQ9J<%G=^*]!\-++IFAF>\@LX/M4YPJM)/<Q*L
M:DN1EMNU21FWW_!.!+S]IO4/CG!\4IK+1]5+0W7AK2[9[18K$6LD7V.)H74(
MDLMQ/-,VW>SK"05*DGS;XA_\$7K+3?B%X$U#]F#XPMX4\'^'->DU?Q+X2\5M
MJ/B%-:NVA:WCF#W=Z?)>&-W:$@$1RD28)45]$>4;?A__`(*S?L@>+O%/C;PY
MX.^'M]JD/@?X@OX5O]3M]-MS;W,L5M]HGN(&S^\C10P7'S2D?)G(KZ1^#GB3
MP!\:OAMIGQ3\/>"H(=/UE)9M,-S9Q;I[;S76&X&,X2:-5E4'#!9!N`.0/F#]
ME_\`X(N^$?V3M'^-'AGX?_'/Q!J>G_$R33CX;3Q0POY/#@M;);8.&;`DF^_L
ME4(R)L4<IN/NO[&?[*^H_LB_#V\\`77Q%N=?M7NXAIRRHRK;P10K"K$.S$S2
M[/-F8$*TKL5500``S\K_`-I']N3]LG3?VF/B;X7\+?M#ZCHNDZ%\1=8TK2=*
MTWPWHABMK:VNY(8T!FL))&.U!DLQ))-<OH?[?W[;VE^)=%NKC]IK5;^)_$&F
MQ3V5]X8T(PSQ27<,3HWEZ>CX*L>C`\]:XK]JW6=/T#]K[XQ6.M2/;3'XM>(9
MECFA<%D>_E9&''(*D$'OFN-T+6=-U_Q5H&CZ'+)=W<_B;2A%;6]O(SOB_MR<
M`+T`!)/M7X%7S?BV/%LJ,:E7V7MK6L^7EY[=MK?@?VK@>&?#&7AG3Q$Z.&^L
M_4U)N\.?VGL;WWOS<WSN?M!\3/\`@H-\!/@U^U)J_P"S-\3?@;K^C1Z7X3O=
M;@\=:IX?CMM#U`6EBM]<PV]S)M$IC@9=T@S&KYC+!E(KA_A+_P`%;/V<_B=\
M.=%^)>H_L^ZWX>L==TJYO;6'4K:Q>4!%N6B1A"[[6E%G<+@D&)PBR!2ZYZ?X
MR_\`!/#XY?&3]L#QO\?-6_:/T1/"7B7X9R^$=!\+7G@>.]N-`$ELRO<PRSRM
M"SR7#M)(&AQ)&L<3#";CSOP[_P""0VH^$OV/A^S=KWQLL+O6]2\=:EXF\2>)
M]-\)0V*7#W4KW(L[>&)@;:V%VEG*T:OAQ`R'Y7P/WT_BH^H/&6N^$/`?PNU+
MXFZA\,I[UM+T2749=!TG1EN]1GV0F0V\,,2LTLQQM5$R68@#.17QAI/_``7;
M_8ZF\3^#?!?BG]G/QIH&K>*=5O=+U'3M4\.6ZS:#>P7$MNL%PBN69Y)8BH$8
M;:3\V*]<T_\`X)5_#K1;2+XH:3XYUL_&"P\/R6NC^.+OQ!J;V-K>?9&MX)CI
MJW2PO'$I4!#R1&N6W9:O%/AU_P`$,OB'8^)?@'KWQ>_:=T#7O^%*>)UUJ>>P
M^'4%O?:W/'<M<I(]V\CRK)-*Q^TL2PE`!"HV6(!]1_LR_M-?!W]I_4IM.\%_
M#=[::RTPW>K)?6<&+)C=36\<1*_?+FWG967*[8SR.!7:?M`Q6?@CX&>,?&7A
MG0M.M]1TGPOJ%Y8S?V=$_ES16TCHVTJ0V&4'!!!KRWX9_L!ZG\./VL[O]I:P
M^*[+;7]U/)<Z!96!@B2!5FAM;2-5?RTA2&2/>-F7DMHW&TM(7]6_:H@N+K]F
MGX@VEI"TDLO@C5EBB126=C9R@*`.23[4,3=C^;K3?^"UW_!3RZTV"[/[4$VZ
M:W5V*>"M#(R5ST^P<@>V=V?ER0:^L_\`@C'_`,%,OVU/VCOVX;3X6_'7XFMX
MRT"7PGJ]\VA-X7TFW>>>WA1XE1X;:)MY;(!W;#N`/0U^66E>$?%L>CV<$GA#
M5@RVL2L#I<ZD'!')VY7WQS'U7EC7V]_P0#\`>+=<_P""BEII+:#?V0O/A]X@
MMQ?W>DS+#"TMN$5F;Y2.3]P,,XR""W'Y]E>+SBIFD(U)2Y;O>]K?<?U%QCD/
M`V&X/Q-;"4:*K*":<>7FO=;:[^E_O/U#\8_\%O?V1_!GA[5;?6/V5_BA%XST
M6VEN=2\!WGPX>"[2V@4M>72SL/LSV]N%_>3"7;ED"Y+#.WJ7_!8;]D2+XUM\
M$M-^#/B*ZO)]"L[W2M3?0X(;6\N[FWM+E+$EV#0NL-_;.[NH1!(V6^4UY7:_
M\$+_`-HZR^%OBKX3^'/VD?A!X7L/%^EM9>(+CPS\"D%WJL;(4*W5S<WDLKX#
M&0.&#^:J,6.,5[)\+O\`@D2O@#]M<?M4>(OCU<>)]*'AHV<WA[7-#BDFO;^3
M2K/2Y[FXG)Q*CPV4;F,I_K'<DD'%?H)_+Q[O^S7\:_A'^T]X4O?&?@7P']GT
MVTO$MDFU#3HD,TA@BDD`7J-C2&(Y`RT;$9&":?[3V@:'8:K\+[FPT:S@<_%7
M3!YD-LJ,!Y5QQD#-<S^QS^PUXC_9;\::QXHU3XKC6X]5MIC<10V3P&\NIYTF
MEFG!D9/W10I`L:H(XYI5;?\`+M[#]J<%;[X7(.<?%;3!Q_URN:`/2/$__,._
M["D/]:*/$_\`S#O^PI#_`%HH`X;]H;X(3_&[_A&=3\-?%Z]\(:QX3UTZII6J
MZ=9VEU^\:VFMW1XKE'1E*3-V!!`.>H/FWBK]B'Q]X[U,:WXX_:NM-:O0@07F
MK?";PU<2A!T7=):$X'I[U]#_`/"*^&/^A<L/_`-/\*/^$5\,?]"Y8?\`@&G^
M%`'S/'_P3RU&)Q+%^T-H2LIRK+\&/"P(/U%G7;)\"/VGHU"1?\%!-950,!1X
M#T+`'_@/7L7_``BOAC_H7+#_`,`T_P`*/^$5\,?]"Y8?^`:?X4`>/?\`"B_V
MH?\`I(/K7_A!Z%_\CT?\*+_:A_Z2#ZU_X0>A?_(]>P_\(KX8_P"A<L/_``#3
M_"C_`(17PQ_T+EA_X!I_A0!X]_PHO]J'_I(/K7_A!Z%_\CU'<_`']IB\A>WN
M_P#@H#K$D<BE71_`6A%64]01]GY%>R_\(KX8_P"A<L/_``#3_"C_`(17PQ_T
M+EA_X!I_A0!\S/\`\$\=1=R[_M#Z&2Q))/P9\+$G_P`DZT_"'[$_Q%^'VHMJ
M_@+]K:WT2[DB,<ESI'PI\-VTCH2"5+1VH)&0#CID#TKZ&_X17PQ_T+EA_P"`
M:?X4?\(KX8_Z%RP_\`T_PH"R1X]_PHO]J'_I(/K7_A!Z%_\`(]'_``HO]J'_
M`*2#ZU_X0>A?_(]>P_\`"*^&/^A<L/\`P#3_``H_X17PQ_T+EA_X!I_A0!X]
M_P`*+_:A_P"D@^M?^$'H7_R/6!XP_8V^*?Q">&7Q]^V&NN-;`BW;6/A;X<N3
M$#U"^9:G;GVKZ`_X17PQ_P!"Y8?^`:?X4?\`"*^&/^A<L/\`P#3_``H`^9?^
M'=]\>O[0FA?^&9\+_P#R'76>'_V:?V@?">E1:#X7_;KO]-L;==MO96'P[T"*
M*(9)PJ+;`+R3T%>W?\(KX8_Z%RP_\`T_PH_X17PQ_P!"Y8?^`:?X4`>/?\*+
M_:A_Z2#ZU_X0>A?_`"/1_P`*+_:A_P"D@^M?^$'H7_R/7L/_``BOAC_H7+#_
M`,`T_P`*/^$5\,?]"Y8?^`:?X4`>/?\`"B_VH?\`I(/K7_A!Z%_\CT?\*+_:
MA_Z2#ZU_X0>A?_(]>P_\(KX8_P"A<L/_``#3_"C_`(17PQ_T+EA_X!I_A0!X
M]_PHO]J'_I(/K7_A!Z%_\CUROB']A;QIXMU>77_%?[4UCJ=_.09KW4/A)X:F
MEDP,#<[VA8]NI[5]%_\`"*^&/^A<L/\`P#3_``H_X17PQ_T+EA_X!I_A2LF!
M\V6'[`/B'2[V'4M,_:6TJWN;>59+>X@^#WAA)(G4Y5E9;0%2"`01TKL5^!/[
M3Z]/^"@VM?\`A":%_P#(]>Q?\(KX8_Z%RP_\`T_PH_X17PQ_T+EA_P"`:?X4
M60'CW_"B_P!J'_I(/K7_`(0>A?\`R/1_PHO]J'_I(/K7_A!Z%_\`(]>P_P#"
M*^&/^A<L/_`-/\*/^$5\,?\`0N6'_@&G^%,#Q[_A1?[4/_20?6O_``@]"_\`
MD>C_`(47^U#_`-)!]:_\(/0O_D>O8?\`A%?#'_0N6'_@&G^%'_"*^&/^A<L/
M_`-/\*`/'&^`_P"T\YRW_!0;6O\`P@]"_P#D>D'P$_:=`P/^"@^M_P#A":%_
M\CU[)_PBOAC_`*%RP_\``-/\*/\`A%?#'_0N6'_@&G^%`'CB_`7]IU&#+_P4
M&UH$#'_(B:%_\CT[_A1?[4/_`$D'UK_P@]"_^1Z]A_X17PQ_T+EA_P"`:?X4
M?\(KX8_Z%RP_\`T_PH`\>_X47^U#_P!)!]:_\(/0O_D>C_A1?[4/_20?6O\`
MP@]"_P#D>O8?^$5\,?\`0N6'_@&G^%'_``BOAC_H7+#_`,`T_P`*`/'O^%%_
MM0_])!]:_P#"#T+_`.1Z1O@3^U`_WO\`@H/K7T_X0/0O_D>O8O\`A%?#'_0N
M6'_@&G^%'_"*^&/^A<L/_`-/\*`/'%^`O[3JY`_X*"ZUR?\`H0]"_P#D>D/P
M$_:<)Y_X*":T?8^!-"_^1Z]D_P"$5\,?]"Y8?^`:?X4?\(KX8_Z%RP_\`T_P
MH`\>_P"%%_M0_P#20?6O_"#T+_Y'H_X47^U#_P!)!]:_\(/0O_D>O8?^$5\,
M?]"Y8?\`@&G^%'_"*^&/^A<L/_`-/\*`/'O^%%_M0_\`20?6O_"#T+_Y'H_X
M47^U#_TD'UK_`,(/0O\`Y'KV'_A%?#'_`$+EA_X!I_A1_P`(KX8_Z%RP_P#`
M-/\`"@#Q[_A1?[4/_20?6O\`P@]"_P#D>D?X$?M/R##_`/!0;6B/3_A!-"_^
M1Z]B_P"$5\,?]"Y8?^`:?X4?\(KX8_Z%RP_\`T_PH`\;_P"%"?M.#I_P4%UH
M?3P)H7_R/2#X!?M-`Y/_``4$UH_7P)H7_P`CU[+_`,(KX8_Z%RP_\`T_PH_X
M17PQ_P!"Y8?^`:?X4"LCQ[_A1?[4/_20?6O_``@]"_\`D>C_`(47^U#_`-)!
M]:_\(/0O_D>O8?\`A%?#'_0N6'_@&G^%'_"*^&/^A<L/_`-/\*!GCW_"B_VH
M?^D@^M?^$'H7_P`CU%;?LR_%76O&/AOQ#\5/VR=9\3:?X;UZ+5X-&D\+Z3:1
MSW$:.J;Y((!(%'F$X4C.!S7LW_"*^&/^A<L/_`-/\*/^$5\,?]"Y8?\`@&G^
M%`%;Q)=6TK:<D5Q&Q_M2+A7!/>BKEOX>T"TF6YM=#LXI$.4DCMD5E/L0.**`
#/__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>fs1nov09img5_celsius.gif
<TEXT>
begin 644 fs1nov09img5_celsius.gif
M1TE&.#EAF`$)`?<```$!``@%%PT1#0L4'1<'!!@!%Q<2#!<7%P\,,!(F-#(,
M""@-)S4G%3`O+@L(3P,!<!8P51,X:R@;034Z3RXX9C)"/AM!7AU(>3%%4C-/
M<SUI=5$2!D<:)%,K%U`U+&\1!'$F$&PU)U$^05E#'5=&+6]%&&U3+WED-U)0
M3U%6955E5E9E;FA73FE;8'!E5&AG9VEJ=&YP:VYQ='9J:'9M<7ER:G=V=@$`
MF0``H14PL"@OK!A0FAM1I216FB=5IC=IE35FIQ)/QA5DSBY8QS-LSTTUJF\^
MK5),K4UODDMTL6Q,K&=K@&YV@G1Z@G-MLT5*PU)KP65WQ'N`>#J!LSF"W#.#
MX%^!EUF#MW6'BV:+N'BBO5.&T5:6XUBB[G&4Q6:9_7.IR7*PZY`/`H\H#(8V
M)*P2`[`P#I%4&(15+I-@'(EM.J%>.*=X.8I63HE2;Y)U18%M:8)N<H5V:81[
M=Y-F9YA\;Y-^?:]F3Z-\1JA^4+!\3JQ\;,$3`L\Y$.D^$MI!$NU"$X]>M()V
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M[/[^_@```````````````"'Y!`$``/\`+`````"8`0D!``C_`+_I&TBPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,B1X[=_`CN*'$FRI,F3*%.J7,ER8#B0
M+6/*C"ALQA)Q#*/-D&5O([,:KF8FC%8C5$^"\.HTP3ES'J.;!^71X91.J-6$
M'T->7;EO'IX&8!OH&BFO#1*F":>5R&#KZ$!@'L!F0;>OD@(DZ#3",P%AE[YA
M),!.<'4/60@*?HF1H!#N#5@,8!Y>"Q$V2\_)8#/XTA<O#82Q!*]U2``:H;P0
M*\35G6"T8**P*38C?.0A`SF"^ZZ90,#+8.X-&<*U28%VJ]"76HVGG(<FP:MK
M("!L5H=-6SA[\[AY\R:PG;?J]/1]_\=F3E\[;.&JVY.V80+/@N/+V]6PRRT;
M!%KL(>.`Q%RE`DCLHDUYXF%#WD#>:(/--CVIHXQU!E6R0&3ZV+4%=!?T@HP"
M`%SQCAH$..#+/&\0$$9!R+R0RC;[''2-(*JQD4!D9TS`"S0*_)#7-1O@55`S
MW]A#77H,AK8!!KSL(PD"5QPESVZ\V"./&[(9M!<!`9S(&3;"A,!;.`-F%PZ/
M&>`2G2SFS&/@@,JQE%6;*LUS1@*Y,$<G,29@4-LN&R:@0`_+H#&!"BC($HP'
M*#`07"($9$!"`EHHH@`"`1(TC`=ZGF4(`0DT.1"9JL7S!@*YV(6!"@ID\<ZE
M&'20@3C(8/^J`A;B"(-H`Z\.U)4:?>EC3R4,;,%."1#P8A<`$9@)@(CRW&$B
M;LX<T@$$FM2'T#Q+@D%F.?*`8.-`9UC0VT"G08`+&@&LP`!BNO*(I#Z2!."I
M/M1TX``6;2F$3`?J`F%//(D@D"@"N^"!`!@;7D$F(I.NL$O`A`8%9TK(38R2
MG<^!0`$N)CA`CEU7;#@!%J4<<K!XR7A``3F)*`!&(@!NB,0S'VA&D#0@1"".
MA%KL^X-;.")QVSR)3/C?#^&`8`$N'5P03LM@X%&`I]!%0,XD+A_5SAD9E#.0
M71:XH,`4Z&Q8P0(J-,"`B"0^:Q`SFCRZPK@$U=2!%>+PV`,ZT!7_VU,BO9*K
M\2[HOCQAB_JXV]N2\\ZC!P``)+""90@%+$J-ON#8PS.[Y1(P&)@HD`29X9PA
MG33VEF;Q26^N7I*<`#10@0.YH(X`6`#\L.$/YL##JU_Z0,/`[0UT"+,6T?08
MS@84H"7\#O<`.X7/!`;_IVKSY'%P)01843H$B`Q?`0,=#C-\`TR@PL``:G=(
M4#PE^*A/)'?AXEBI"FA0`@(KD.!QVZHCR#S8```$!%`=N$C$!+*@-W1T*P'C
MJ@0$<J&K;DU@%[OQA2,F9*1WQ6M>^H"',A;!(5(=1$Y]^1RP@*`;@AD,80JX
MPC.`$PXR2$<>!$S`8%QGDHKQ<"1R<@YV_Q+'%U^\HQUENXLY1&7"=T"C:>2P
M!SN>AH`L1.,NSP"!S0;RQ`B@`V0^<\L\0/"N:Z"A+_])0M(L@`HHV@.)`WG'
MG#0Q@@N(XXW5DU,&(JB`+<S#$7V4V3`PD(H1,,M96AK(/)R!A@,TX"QB)-!_
MD)`T"O@".EMD0^#TT:T($(Y4@`3#4<:()"7AYQW>N$Z0]#$/0SBG'=H`VJ3`
M`J!@C(T=N]G%&PH`P]'1,#KCTD_3W/)#C\"DF!T)XBL(\HY'=``)H'A#%G97
MGEAI0!,R*(4B&(`%3;SA9;QDQ@:0-H8$9*$\7=D@%EB0`0UU0$<H$L$*O#D!
M,$1/`1DXA`&\M__-;JH!#'`#10?HTP@&6"&:%&(EX&3A*[O\0!,FN*!#RT,-
M__DB&";H$/#V@0P2H(!R!AE&"D"!"A-8(!?V>`T63.8I=V@1+?*PX;D,V`@.
M$L25W>3++JZ!SV1@0!,D]0`EU6#"@4AB`$URZ=+X@@@/\,8N/7B#`JPPP^"@
M80!94`8J4.&"!H`4F1OQ(5@W(@Q-J*8@P="$6G?!#D:DXBAPTP0G<((*M6J"
M%].H%CLTT9:`7D>1IEBK/MAABK<:I!EVS5=>U0H*G-BCKFKE15G5*AM@V+4W
MB(L5[_3A#+4BHEKV"(<I\C4/5&PB'*CX;+4(P@Y<$+,@U[#K:CD96+G_YD4?
ME)B0&`N+6DV@(QK50MQ@:\M7>[C#%*3HK280P0GL%$,3X#B*98&'"E#T`KAV
M+0<[ZOK97;P#N>B0AEIQL5Q$E.*U8[U(Z]*;$>$NY!X7L8=\#^+>F70E$0S(
M0D;"`98*R$YV*)C(OGI0G((@KKX00;"!$\S>EHBUP1"V&#W02Y$)ZR,\^L`'
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M=WO;WN:VN,--[FB/.BNE3K>ZU\WN=KO[W?".M[SG3>]ZV_O>^,:W+7P`CBC8
M@A=0`(<J5-%O6]PB"@(G>!1N<?"$@P,*O+`%PGV@BGQ;_.(8S[C&-\[Q=-,#
M)!T/N<A'3O*2QQL<<?\6.3AN8?*6N_SE,'?WQ[\1\YK;_.;MMH4JQF%Q<(!C
MY#Y_=RUHP6F<&_WH-F\'R)'.]*9O'!]*R($N+'Z+G^/;&%#PA;OK<0YWZT,)
M0^#YQ0OAA70X_>QGGSG:U_[R>MAB%?>HA]SKP6FZTUW.<K=T/E(>Z75T'>]W
M9W2J4S[WNL\][^F>^ZT;70]Z#$('NJB',;QPCJ)'//&*_WK8]XYXN2=^W86G
M1Q&(D"1&>Q[PIV>[ZCNN]M6[?N/&4(4.H$`+?!PA!U#P`1'N80P=`$$'7P"'
M$HAP!-(3@@=3/[XN`A$$7ZQC^$^`PCC4H8,MH,,(8>\]%*`0AE+?PABW]X+_
M#G9/CT(`X0A#X$7OB0".0?!@"T7(`1%HL8XHZ+[JC+9Z+<9_!!_00O/C4`M1
MD'M08`Z#$`1)XGY35VK:!P6M4`@ZP`,!9PM%``4Z0`O[,`BXAWZE]WH>B&^M
M]X$B2&_&8']1`'>YAGZ^L'^Z8`LZ,`2JP`L:6`[=4`1<0'UA0`]'``7E$`@^
M((,YX`O=<`0W.'OI`';")W7J!@Y#Z`.ZH($K*'7K<`1;D`[%H`.WUWVG`'GI
M%GOHMPJ\8'6]QP7T,'SF`'8\5PNJ<'OJIP,Y6`1;\'?XX`1*V")&0`3IL`Y&
M>`KIIX&Z4(-<4'0C.(@RMW2$>(CL%@@Y$`0+F&M%_Y!];O@+.M`%*;B!.5`%
M]3`(1-![)\)\O.`$05`/4T@%O;<%]G"'`9@#/D![I08.ZO"(XT`(.0"$0Y`$
MX_=S&AB(^R"+6I=N<[B(8<!R^[!_W3=\PA=V^T<+A1"$9;B)/("!Z;9_J_A_
MHY<.QY`#W?<+.4`+?CB%58"(X*AN(1B.X)@-_:<#O'`/4(>,;MA[E#B'S:=X
MI^`#*K@/@8".2A`$Y3"*U`<%Z8!]/%</PB<$9G<+MH"&C\<+GH!\<M=U4Y@#
M0;@/6[B`]."#.L`%BK</5Q@&ST<$OH!]NW`$07`/^Z=U^Y<#0V!VZB:02B`$
MYE"!XW"-@3B/M.`)4E>#5/\@B.0XB..XDXA8?T/@!:+G`ZV`AF/(@$7P!;=0
M"]T'#K?WC?K`?+Y@#$4`!JKP!+S0C+/PB#YW"VNHBZZ(?N-@DU-)A4L9!L=H
M"V*Y?UP`#L8PC>FV<J6FC5!`"L!G#TAX@!*GA."'C>J6#RNGEEM0AD-`"_8P
M"$]`"TK@CQH(!H/@A#Z)B#T9F8>X#KQ@>SG@!5Z0)`+7@;$W<$F"#SI7>L:P
M"F97FC'(@*K@!:I`"^>@<ZV9<CXW=+RW"EV7<#$8>TEB#+3`"_F@AKQ@F>L6
M=/NP?E[@FOI0"[>0AZK0"K%@F_OP?/JH;J(Y<*ZY#]TP<.=0#[7@!::9@;BW
M"D3_1YF$.)GDN7JJL'WJN7VVB'OK^9[P&9_R.9_J&6?X)W("R6BWMXKTJ9Y)
MD`,2&'#>UY_KF00^('_J>9XC:)X*NG9Q=W@0&J$2.J$46J$9&0O\MG"\@'`#
MUV\,QZ$*]Z$.%P41AW!'`(T6:J$KF:*'MPZ'UZ`?R*`P.J,T6J,VVFXR>J,Z
MNJ,\&HXYVJ-`&J1"FG:&.*3P1@\Z::1*NJ09]Z-&.@,*0`*:@`WT`&I,>J58
M.F].2J/<H`FIX&XNT`%C``(>P`(VH`G?D*19NJ98NJ4P2@^:T`$>@`WM]@(;
M8`:`T`=F,*8DD`)G2J5L&JA,ZJ;LE@IV17/I]@V&J@E6_TIGARJ.BTJG+T</
M<&`&9N`!:+INQD`">`H(@/`'?Z"G8]H`'J4)V="H@IJJ-TJHZ78/*``YD',`
MFE!JJ5`\L?JE^U"KL'H`N(H-M@HY-H"J(T</+H"G??`!**`)Z-0.*+`!?>"I
MT!JM?=`'8^H!"I"LJ8`-[:"JW/JF14IOFG``L`HY#4"EOTJN]/`-KSJN#5"E
MZ[JKN&IR]#`#G0H(9M`!+N"EW\`"8Q"M_NJI?@"PU`H"9,H"FF`*@-JM"DN.
MK%IJZ]H`-A``D..EL&H#X@H`V0JK,F"KJ?`-MHH"MOH"+V<*(!"P@.`'>DJF
M*(`")?NO+FNR?N`'ECH&(8`H9_^*J`N;LR+8L/30`.(ZJ^NJ5I"#`O2PKDV@
M">BZKC;@JY&3"NLJLBZ7"B#P!_]J!B"P3O7JLEH+K:%J!F30`0V``C40KSI;
MMFO7L/OP#=C0L3T[L2\`K/1@`T,KMP`@LD@+`$3[L,43`+,:M2%@LM'J!R#P
M`BB0M5M[N'FZ`6]`"6K@`0S0`#4PI=C@#4AJMI9[<VBK;G=[`+:@M/MPMRCP
MM@!@`Y]+KI][L>0:#B\GM<_JKV;@424+N(CKKX#;!R"0")F0NR=``F]@`B=@
M`BA@IB3%MI=;O.JFJ-B@:4WZK?:F"0@PM$4+.8A0#W?;`*)+NM5;NNPJJ2V7
M"G_KK[;_VP`AT+JSB[B7FKNY:P*'D+N70`F2D`B)\`8N0`(DP`(S\*?A8;S=
M2@\UL+2:@`(A(*7">F^9FZNVV@#*L`]&J[T-``/`RL!,6P`@"SE0V[T@0+Z>
M>JP$T*_E.[MC8`+H"PDD@+OHB[Z7<,*54`F'\`8D@"C!ZZ556J7ZVZ::L`&(
M$@)CH*<A0`-J6F^9BPT76ZX."[>@>[W:FZSHF@KBV@`X6W(U;+A_``(?T,&S
M:[MJ@+Z)0`*54,)<W,694`F2T+OT2[^A.Z6I4`S:.L`S7*/[NJ<?\*P!VP<A
MH,;TAK;1&SOQ>K<O0`^B^P*@NP]]G+VI,`"QP[TD1P\TT`&&_TO%'=P''4`)
MZ'L()G`)7ES)7NR^B:`&:O"[P.L"D:M6J:`,WR##=+S&X>B],?NO8T"V(,B\
M\I8*L!JV+Z`BU<NT`$"Q`'``V!"TL)S+J4"W3-QR\[H!C%S,GGJOE)R[FVS)
MS,S,[?N^\"O&'N4",U#-H#S*,=S#1U?*IEQJ=L#!5<L"&(>V[SJN:"JQL0.K
MWY`-MOJ\D*.HMGH`%XL"+O<-$[`!5&O,'>P''US")W#%S1S0S7S"F)#"E0`)
M\6L")C#&*##-FC`*V/`-$MW$-N>T,T#1W9QNW<`"BYS!(6!U^=:P'CNNL*H)
M]H`()!VLGRL`XYH"I2:ZL<S*(Z<)"O_0T?JLM8+[!B6<"":PQ0+]TT#-Q9=0
M"9FLT`I-OW$1O'-06(6%"JF0"K80T3(,:<!6:I!VU:T:;Q!E`BJ=T>NF"2!P
MN"#0MR'MRO#V#82[LFJ-`E\*#H@`LBC0U=^@"6`1NJ#V#3:``74MTR-G`XI\
MTXU\NR5,"2,<U(9]V%Q<"930,F,@!F,PI@3[`2#0`35K`C1@!W.0V7:`"(*P
M7':E6JG0U*/PU*1=VC!@`I)@`MRLOYH`SBYK!C.@O*V,T?(6P^!`#^:0KKJV
M:6J+T;W-;A--VS/-`!T``F:`P8!=M1W@T[E+V"2,V-!MV(G0`<B=I].JIY8Z
MLX_]V`3;W=W_+:=R^KC`N]`L0`(+[0&)0`DFH+I>K;D7O+5]8`*&;&\%[).:
M<`B8\`;%+;O)':W]/-@=``G1/>!`?0COK<\QF^`QVP<HB[(?T-.8@,)?C`FY
M6PDF0-;MO0^H<.`O.P883M]F;:/8P`("GKZNW=_0"@(Z7<*7H,G)3.`P7LEJ
M$-8HKK5F4`(4;LGJ30*1FPI;A0J%)=PY2P\L(`:(VP<>\-2S':3VH`D`K;LM
M6^,9+-A"[>(Q?N5<;`(G+N6>^M_-3`DK_+MO\`:2S-;AL-JI.@=;3KMC8,-\
M?:0A3J/=X`+/G0E:?M/\#:UF,`*0W,7JO;Y8'NB<RN7@"P(G$-1#_XV^^<T"
M!IL*P/;4Z*$.:&ZD8%V^MML$R>O#<3ZCJ7#H_OS&A&X&DUS)AT`"@1[H)F#3
M*&Z[*P[=E:`&;Z`&4FH+FL`"'D`"*_`"-@`*3[W;:]K:>>ZR8Z``F*KI0CZC
M]!`#@(Z^Z@T"VST&QQVP@"OMY0L"3][%B>`!S'WJ!$X"U2WEMNOI,&X):J#0
ME$#4FJP&#'"M\WVEQ;JULOL'CQT"QRZ.FQYOVIS5\I;O'(<-+M#G)4S4\GL(
MO^O=.4RMVRVJQ\W@TOH!R][%E;"[=<[MB%T)?TWHT7JOVW[JBTT"B.!:;"JU
MP0[O($"Z6KKIY@`+7L`*O,`*JL`*L\`*,O^_"RHO\[;`"BMO"S'O\K8@"R^_
M\B]_\S+O\K#0\JH`!BZ/]*P`TA>G">+.S)0`";%>[B0``D9M`E:OT`0+[0SO
MR`_OYR?0`==.\=)-W1@OK1W0ZJ>>""[``E+@;FJ;L$`*IVM^N.%;QYL.#D"P
M`SW@!3ZP`S]P!3NP`T!@H(,/!(+/`SMP!7_/]XP_^#WP]TF0!(-?^9/?^#T`
M^5?@!>:`<=]`YX>-":*?"3D^^HHMQL7]V!LP\5Y\`D]/]D$]W?E\]B>[YR]^
MY9!@`A60"F?>;I\/%A^NHZGP`@V@ZEI+!B%@\K6=]WO/`X^/^)F?!(+O`SR0
M!$`0_8F_^$G``SS_$/F`OP4^$/X]4/U9P/?BS_=;,/E,CV].#_N9`.:[RP!?
MC^TD4.+N']0&#K.T?Z^L/^")4`,`\4W?/H(%"=)+Q6*,`A3<##Z$&%'B1(H5
M+5ZDIXF$@C&`/'X$&=+C&!;?+A[\9Y(B."`[?F3IL2-)$AX\9N[8T2.+#YQ9
M6N:\PK.'T"LM>\0$LA-G3J!79)H[*;%&HDQ5K5[%FE7KUJIJ.E#E:D(-5[)E
MS99]`\*/2+9MW8+LT^'06;J)I*B4B,J$&3,L'%[\1B_J8,*%#7Y#8<)$Q[<?
M^Y@9\T+;8'HI*[+<X<,+SIE7O-B:Y>7*E20[@'AIE64T*U9`?MIT>M1T_]$D
M7L#,8I7%B](D4`WOT^:"$EWB9-^,&+[5Q-SBS9UG.L&X\?2W<9D_QWI(#EZ(
MX#1YX*O`1KN*"%.U0/5;_?J'];!I8I$H40?J?4*0F,$=H^65+8$XW8$5<.JI
MQQQ>ZKD',U8(K.<<!.DYAQ<O?O`A*!YZJ,DS6`8$)YL!S<F"!YG`4<^4L;![
M+A(2DLN*$A+`0C'&K5R0CCH;0^KC@^MB/`21<.Q)19F'4M$$A0[ZZ$,!`CQ@
M09-[(/J&R!D\"$$!3=C#DC!Z=M%$DQI8,.'%2H[T:"V1^AC#`TT"*ZPR_;KS
M+PD?;'G2%M5\`*(5<'AJA:!SLLA"E59\`Z>US/\XLP6J/WWHX8I6).3,M\*P
M<0$2&8N[1(TWMKKDA!,RJ>124:U:[$93X9+KTC=<P`8;.3J88:!]4ID2A#'Z
M`"1'OLSXP`1Z?JWGFSF,'./6/\9`P889Y!`R2V<+HB=*&VIP`<PW$H'DDC<^
M5>,#M_P``854U'/S,O^RF(4@6W@`HC336.&)%8+`20+`)'@AR)S89-KER7/L
M+6TF#'LSK!Y$-AWUK$-,"%6K2\2JY(03$T:QDE)/Q7B,3V,\`84:7O!@C`]0
M^`2;5$@`H0\S`?D#UX]`8)(%&U@`P0R5'0-A`UM9P&8?P9XU+%J3-7'!!1(8
MD(\22ZY2X]/Y7!;)#!+_?OZMW/YDXL7?@$MKM#0?8B&H'B^X'I$@7OP;E*!8
M<JH70T9Y2H+$PKYQH6&*N:+$!!BU2H0$$TYX\6[L*"G!C,96QOBC,4B($0\0
M.@A!#%S'V&"#!AJHL:UCBP4AY;9P1;/).7H&>K!O$"GZC6LK282!K1(QX1)+
M+@9DY3Y`8('JH/F;"+,DGMQGE\R*XL$'GS+;A:![5!'JPN3WN<>I*VS)M[31
M8O*A>,[DIDR3-^P6'*N($28K:1/(#Y\X2#HP'"3$$V=K<?"+PX0$FZ'VHV40
M.+K1#S^@]L@?[O>_QVQ``0NP0^FB\HT:7(L2E[#*)0(G/K%TQ5LA\0.RBL$>
M_ZOUCB=9*,AF_C.4_S`J"<_3UPZ*UP,@R$M=2<@"OO9Q-AAB+R9'L0GWHH(*
MX:0O*Q;;&%V6X\/B0,)S\+N1&3I@J>=@8B]NH9S.QF"S]U5G#!U8@`<\4#D/
MH$"+'C"%`@'C`O1=I6\45`,FJB*)(^:*<BQHUGHZ*!',@&T?8IN-B&Z2%.KM
M@UZ'^D\2ZN&GF?QL%ZI1H0^$(A0OZ.XBV&`!BXB8B8>I87YE\=0DZ]*!*=J,
M+T@")9*0"!(0[(A^T:FB8SY0N9Q]H),`_,@?!%BY!FBB59IHP``TD8I48.--
M8H0(/<C(%4N0@(E5H40'KO(PQIA!BRMPUAPCPA(>]/^1'DZY20^2T)*9M.))
M?QQ*48`PR'V88P>-G)><+G1#I&S!"^>@#"(FILF%0;`X?;ND)K,RGPY\H)\Y
MJ]P'/@""@1;+H`>%S*X\V8<_A.0/(`AB<RPVAE2"1):/N6+E-M"^D1#T`PI8
MP2X/,H<.@"`$*'A!*GX)3&BACBS%W)N+L,(&$#2T+ZD@3Y:D":<=/.]?,BG-
M"'>P$Q>*PUWU,@TYP;&#*Y#3%D+)C")-XY.X#285/=1G)298'!?M39]:.43*
M0*E0R!RT<YT3*$$UNH%5:G2@;^V<`DY@SR*:H(TKJVBND&1`BN9J`P8@`$BY
MDPWP^*&L7=2$(UE*$%20@*[_6J&$!Y9FE61BA1*>&\,,%$LNWM$1"#Q(UQTW
M<X4?R.2S_PG0O/SC!6X"CQ<R@6?P6L*HG+#K>`0[23MJ<$Q-=NH$^21+)4JP
MHN!2HA+'?6S"$@&"4=9.EBTS@P`36E;*S9,ND;`5+$UU+`48SIFCL$$JJ/:D
M5(`'+F,(US86>Q@71%0KLXOI""Q;JA",ZUD[?0AF8%$0>%FH*$-MB0O_>#R9
M%&1M5?7C9Z7*@RL0&,$8D0-PTY=,KYX%B%R9#PDTK)@W'.(027N@C-3`W.;6
MIP05-DM8&UH[^/5!9[>KP39T=X\H>>`#VLT1"M9+$&%AU3@1/2-6EDN2E5:M
ML],,_S#P;+%'IR0E)BXT1[NRH,(=].F.V)1;/:YP(1[\@#08BLF#+4(W"8>O
M;Y(DCAI($(E$4$(^QTU$TTY`"4DDX@UJ:)IB-OPW%^`Y:9>XA!K-$IT24V<,
M+GA.6+5[JB3IK(LHR,9A7M``$I\)!##8\3Y>,.>S),(##;O$PJRQS$Q9J73X
M-0AF8N@GU@(5J,5['C@:3%O<OK9>7B!G+'AR&K(-3(<4N8?WRBPXB6$GPR,P
MP0C\9H(.,*`!%08T)=QLYSN?(-E[_IOJ$G%<4&&%=H5VBQD8YAPG<A2)("!`
M`V;0``78ER"I.```*HTC$-0@TPTP`9JW(HD.3.P-)H!L+?]/?60X^6`FA&K)
M%K@)!&W*\!RMQEHZ:^@#5QS$)\13X5#*AI&#?;4J6D7Q62X1YTM(HA+3CC/2
M,'4):<LGSQK6L++%<@A(P"YSX([?N)M#Z!)_0`2X]`#I[I$*=@/@`XA;F1(S
M3?20[W,$H0JU>ZN2"!1L5HX$SR_#G9(%N<U"-]J,16BN$%IZS*)>L(CM+F;B
MA>QEQA:#/(?9AY($UGQ04N7IN,?[EEQ16:SIF+($G>VL!L6$B0$WQSF]>6OA
M)S;7#R=%@:D)0EA7;A2#'_%#!S)M#A<D@N\.(T'#@FR52KRA`R1`A=6-7&35
MCK!>L3#'/>H!CEUP:!9`4,4Y_`7_#GC27A52-HH*?R`@>LR>%[4W!RN\C.NH
M:,($D!"T)@D?/A=%PH>`AL2W$U\FG%F_B&U$XA@:$((/D(!T^V#"!=_R/\WO
M.!M]ILO#DB-33+CYWR0X!"7$!314%X0E%6H4;=(-T+@%7L@"I$J*7=B-SQ@;
M;O()[=FUL;D"5IB%68@%5IB)`\2MB_B.9<.6STN8(1(<?)JD<LNKQ+N=8<,*
M:U"QYDJ2[HH,X-D'&!"#^MB`3'L!G3.+3#F!^GL#!@"<,!$+2<@$%W$WG<*Z
M5',-.=F)HC`X;2H-A4.*HP*0J9JMF)`)B%L*H%`XV#H)>Y`G-P,<#3N!_%/!
MYG`1?1.5_Z;1)$P(`7/;/H<"@<4S"^RZE5$R@XVRCS`J"!A`/)%`EGV(DKM3
MCWK0AX%X$GJP`34`P:V@!`8($S)L,TDR@0:P+]:+BOYKO6W:)IAH%YU@(9A@
MH?]*"I[`$Z7@B>(9C47""0%,`AP2LXK0A'ER,\+S&TW9-E&!'36\E`J:I#%9
MM#C,%1#POKIBGQ.L#Q3`"UPPK_4;@_I"!0_H``_`1(K@!DUX`19P`1OHDA?P
MFT9T1*0)L:T@O#<0+QBP@6HLCR3TOR5LEU+D1)H@#3T*JN,9Q2MDEU7$B52L
MEZ#8QXVS"'W0!*E#ICBS-L50@VV+ON9@0\'I%#48-2+"!/`31O_'*`$ZW*2:
M<9]3,0-E+`A-V(#I<"8LT(0WO)T9,(QO@`]M2P0\4!T\\#SG>,3@$C1'<`$B
M(8$KN3I,9(EVF8F9J)`*<8TK"#-1_++9``)3=`G6LB'3@"%W&8HP^[6)R(>#
M`4>62X2%$<+5V;DR&I6',27JZX`5JTBX`($SW(I(.`'V@1\_V``:H)J2G`YD
M28@:S)6@(XQVL`&]`4>)\H#/@X0W(($@`AP7N!S5VP^>?,>?=,>M4[#CF<>I
MX@E`:C7:LHFQ:46I@INIE`A*^3NLB+:%B3DUH+F%A"R]"1]),"9-6JY@C,/;
MP<CB\`HS0$:VZ`,/.$*0%$D&6(!Y`P'_&T!,B$B%?+N;RLH$2(`$2C@$:V.`
M$3B$P9RZOVF`J=E)<]DFVO@!3G0-I3A`F9@RTV"[G#@*?<20V3B>MYE,EV@J
MC%A$CE$`@NJ`$3B!:S'-Z.1%&8$=M(R1Y2++LO2(VRE&%($=BIP./\!-@P#)
M_FP+R``@9SI"BP@'&O!*&7E$P/$`!O";^<0#AFF=^72VFSR_U;/.>BDAUH()
MTIBJ482;":F)V=BF0]&FHQ1/+/3)=[J(X;S/LU@,_^&+SND`Q3B!;6N8AA2<
MZ:,GM:C(]^F#$LA1XH@8`OV6Q]-)@N"$D"S0,SG0P=B&^*"83$&:1*BSAHF8
M-CL`#)T#E4)"_Y[$$Q*]SG=T"A_8@G#R#]):BO_X"9P(I"W<0MA(R@V<",^4
M$?O!$8QZG--3@T7XF_39%GT:L=H$-]B,D8BTAM8TE=L\0FQH1D:K+\+8!=1L
M#DR0,'XC1XDQ`'&102S11#\"%-W0#2]P558%`BT8&U>="3!@K<Y@!=+XR2Q@
MA;&)QY_<@E@0C0R,K8F@F\\TBZ=Q'\01(/1J-@9P@0]K4H8\@8@DHAWU3[BX
M2&M=IN/RUI.KN7#-2@][3C*Q$</R2`2%4I%@5C)XT(K@ALYSTJP\CE2!K*?+
MBH>!UO$8N&J\!^`!6.@QB'\5V+"Y(X#]5X*%'H)-6(+5!WOX5P2Q"/^BZ<L4
M.SI'!02^N*(..+T3Z+Q*J$\G%<%)$M1L_0@S4(#!C$28"Q..=5F.58"79:6!
MRADX;(P/L(%\>(A[0($_;`PTV*"3N*JFPX3Z.X2F(0&.=:4IZC?(VJI,2`3`
M40%-B"/^8\>"X`5P,!!PL`7:`P=>>#MZ^-JOK3VM-8=SZ-JR]=JN)1"N'=O:
MVX6L39"L)42(P(>\XQB?_18DZ=''\0`.@P1N(PY)>#Y]RE2370A;F:+%3:A.
M(JM00I(5>RB]%8D/P(*(D`%OP=C_W-1'4AWQJ00V.\B24ER;*1/#ZH!+`LNJ
M.`2C80!Q4<?=P<3EZ830V`56,,#0R#W:RX+_6.@$5;#=6.`%5K@%+X"%6&@%
MX$47<``'W)@%5;`%+X@%X(4%7H"%+)!867R#B@VN$:#-42*@'G796WRS,LM/
M?6*`?S(HLMH5OA6E7,$8,]#(4_$?D?@#5]K(MQB#&E`L6P@!!64+VRD_8[`(
MA$`!A(D$2/`P$A@!TITBAG+-Q<$6K-@63&A=&4"!`YC.=XVFJYT7WM/:MM5:
MW;NC<S@'YC7A$^:]>W"0<S`'$(XM>#KA%S[;>]@&YI4ABP!4`>V`S:6.M2B@
M98LYC_VP`(5:$PC9XF0`5Z)9^/2GRNF`M9)BFCVH*7(+%W/-4YG<S76F$"6(
M;0B!+`;$%*A;B#`'_QN(8I7EV,YY8`"^8A!@`$C,OZH(DXY9`15@``$(`!:8
M##%*U4Q[%N^)D4851G!ACDJHLSM+MA%0-B+.)-8$/[P"';Y5J,4U*%M1JYJQ
MV3RTV?#;``!"1A"84H+0!V[P`#$&"0?589*RF=)%Y<O#/(A:&/E\`P&H@.F4
M&!)`@<1BJ3\&Y"S9!1^3*.W#N;C`2):KLSA3@Q$`0GUJ07"S*8WJ42N6WU>V
MD=OY`#CT'\CUI`UH`75XB&\X9>Y;OW"A"'I0AN\PURKRX9-%#E")6@8X`!*X
M%DEX@SGHAO7RY5_F('E]CLOJY$)3HFFE)-A!UC5$TNUK&<KA)((ZJ^U#D_\-
M.*BWZJ<-B&)_^J@5<"3_M>;;X>"#*$GTNC$4!`'TR3"J2`06$*\=VV=^5H]O
MX-+G6*YVOI'%X=XBU$$B0J6*?(SVR1$%^&3,`[<Q(`"=P>1B:=_(Q9V[NX<:
M.+HKM8^5R@::P15.WKX.()_9>8/`M+;8154/=FGV$&3L.(%YV[XQL*[RR6D?
MXCF3'0G+BT/T"FBXZ-QW@VL<P3P('IF5AI9OZ%3I<#'*_>%8`@%$ZPH!8`#$
M*F-@:NFP)HQPF(&#UHJ)G.OF^H,-"$L,0V)-LH:2=6N/R!EK/A7*J>S:(8EP
M((AP2($/@*Z^#2BUDF(/N,E4&#H68($0J)'[->O_$@,!G1/,#J@`K^Y@X7;L
MJ#"'J1B<^7W-KR".#4WBN_'LS^85T5X_D>@<9(R+<?D&&SB`M7)H5P(H-HY<
MC)K&&<#M^PF)SMD^)2(NV4D$%PCKQB[NW-HM[$@+FK81)9+-"0T?[_ULQPCJ
M$JLBB2[0#\"`(I'H5P*@N/!9C8U@UL:YM9!?$``+2F"!^`;K^=82&Y#LK"!F
MG!L#@",.$X#$(/76F^8J<_WOR15&JYY+!<CFQL@1P7X+%T\\,VCF(KQPEY9O
M#;>(A$!QTGO#LH0H3#%((;Q%FIO$(.<;%?_OZ78\BY+?,7!C0`SPQK"547*Q
MTH[?K[`GK2+NKPYS'Z<(_YCN<*N@5&&\'?XV"^-R,S8@O`ZX'`\83-+\L$DD
MCC3_;[^B<1N)HG6-&O7#\MTV%93M<^J`C*:-(!(`!1[/<#)O/A=@\C=X:C7O
M`()F/`=X@$U_``?P=`1`@,1668F1C\G*CH3.*_QN#!L?)<J9(BZ^<OT5](PA
M@$-?=0/ZK:O0O^!4H!Z'=&/U9^)HZSC4[Z\D@0?`@62_`1RX@69O=D[O=`<`
M]068<PU+R+)FJ#]0]1:[ZU8G]%NO\I#(PW"?C@^0-V2L(I7!J,H!:@^0I(?A
M0W[V]5^/"'N(5DSY\*%FG%&)K&5/]G]G=H!W]H&_`4[W=&E'@`58`*!FJ_4U
M7?]+M_4K[G;JN&R.RJL\I&YQ!^I7-BR-7:6T*I;W+.FKP(,==_0QIW>("(>8
MSG-`!U\00(.$H80&\'>`MWF!#_AF5W:"-_B#]_3N*DN1R?BV(/!*G?@%C7'X
M^0,%4(!@_!^#FEFDEB66^0`#Z*[3FT25=NQY3WF#P`84&`OC2K.^4NA24JX%
M\/>T7_::__>:=_:V?WN;7WL$L/CU=OG\/OKI8,OI>"@N#S>F-S<T`:A5(@``
M"*Q.WI^:70@&/H&2V/I'[WJ*N*KGC!VZF*C7!`%,/PLU<(";]WRW5W:<9WO1
MI_NRU!7,(R#(57U*1I*22IRDEW'\A9_PEM^/`NHIVA__)?D`,7@Q<0>`C:(<
M0.@`35B!=BMNKH_\@D@%%```$:<+-O+[0D_=A%$#9`]]S[_YT<_^@(?[!3"<
M;7^+R[85N))B=B]_MM(9@1IZ0,A[^\WRQ+E?MF+Z#>!]B<X@`UHEH/ZH6%\(
MS,'B-`$(*3:^[2MH\"#"A`H7+J3WCR##B!(G4JS8$`4!$HDR<>SH\6.F-R#^
M`"II\B3*E"K'F*@$\B7,CY9,/,!A\^:-FSIW\NR9$\>-G#<4]"GI1R72I"I!
M;``!8@S4J&:F4NUCU2K)/R`4F%&J]*E7DT[#(AVSX4,9,6+2BOGP@>D'M6>9
M*MC0E"2@,2AL@.CS80P@,R92_UDL7-$A1,.*%S,NN,L#`P8;8X*\I$8,V<QY
MU5#N#)(2B9I`<?8L;7JTS:`W-A35[+JDF0]=7YL<\Z$U;;!D;>/6;$8!VKAE
MW`ZO2UP,:S]4S8"0G;<!"A!Y/P!2C@);X^S[$&OO[CVAIC>)$EWR_!%3B-DF
MC]*N#F*R><^2&OP\;=]T_9P/-IBY^N=J'WY8Y0>!1_UQ%'MD,=>;:V/TU=YT
MF9F%5V9^`<=66F5DB&$9=C$("%AF>+#"!P)N`)4"#!#VG6'<L?AB8_38\$9\
M+R7R((0G]=$!?#7&E,@"]9%VWWT_&5F`778UYY1;'W3PEE-B+/E45%5*1959
MZKUF!O]K$#I(H5)<@AG6&!>VE19:PZT5%W)<J<1?22`<T$$??YCEE`?8P7C8
M0WOZ:9@F+I3GHT<GX)AC8!U00BAE;TA`)*0\Y8?#`USUM]Q44)DQQJ96>FKE
M4Q_,I0`(6FKV!YSM<?FA2GUL,&:89ZDYZYEG=LA?@B:M"IL"I)9:TA@PU//G
M1"X2>RQ#WKC0(Z&5H`$8A.RQQ"AE:M0T::20&MDEHJWZ\<=_5ID%K5>YYB6=
MJK>1A:JI2/WQ05UKK86A6AB*VBZPI'*Z50V"H$`=<YH@&Y&Q`QML$#8H<$9M
M)I30V>T8"S,LDPD.9'NQ3OI1UVUF?KP%:UAVPFFN5ZZ"G)+_JPIP>A+)ORG0
M%EJUING6!@1L@)E1*-E)%P$#3!".,AYX0,(+B1U\4,%'&XP-"30R?&-1))/E
MJM,3>U2)!Z)AO/4#($C-<4I<`O:U5UF2W2JW7J':5*HG307;S?/6._>:2;(:
M-E,,")Q**O@HK5#2?Q^+BT96FS#&V4KM*(G5'U%"W];:HD8IN6![Q=3="K8]
M]>9)N0H8EQUP&I6'><6M%MUL(3>&5:[U`4(#@C,4N.Q[@N/"(8U7\JNJ'C3^
M425!1B[Y30]4;KGG)R+ZL6L=X*MC'V,X7U+T3+&]KZ@OH[F]K78]7W;LM2=$
MN_@L8L/"H%9#POMKT_[>42(."#E\_VE&VF1\XL@#TD==F7O%Y5/\MQ[;Y`QE
M&R`5@PA40)=I2&[R>J!;!(@2:7G`'N5#6I\NZ*=O+.M]>#A4QSYP@O=U1`T6
MHY_D;N``=.FO;&E[C5;>HBXR@1`EL9$@]>R"IC7Q$$W*ZYC;%"`P#6XG@T2$
MD2E<L*C&8>)PKWE=[DB8"1*<$(5%`HH#$-="%^+07?M[H;LZIR/=9*9)\HK9
MS-("QI1\;0P'T),&R7?$[.`#$5%L'"5XE[_]@6")[[M$UJQHGZ"D)HM;Y&*W
M7J<>!::$-TGYDFNX)*\,/5"-&Z.-'\ID`V_0(XY&G".+`F6)]QVBAF'RG10O
M`3E!#A(H"/\XWB%M^"J(F7(]@?D`F(X2O3[<D#9F<4L/A0,O:.T1)1\`@`)"
M,(-.ED^.H&1,*I1(0C6PKES`(H%+2/@XH;#2)SI!P/=B:98N(L4OIC+7CA8)
MB/^(BBFPS`QRSE+)>*[Q5)QRU8K$Y\QG*H8>B*B:[IR8/Q`PP`0F.(%X*$&)
M2J3/1XE`P/RZN1.A+""<A]P5HASD/U<MAY=L^\-43K:;7M6M3?WIUG^8`X,+
M[I.?AM%&!]\'M;"\3@V)4,,)3$`"$GC`H(<8CR2RZ1D31E2B0KI!16.9%(SF
MZ%V;RU7*[-(!NSCHG3`TBUUZ1=4/%=,JF9*J#5CZ29=V!Q0F\&/_XTHI0#-T
M0*@<J80D;FK0G8Z`!`A-J%L[4C'\2"I2]AO-:LC9+?:("5$&DEXM`8B7D$9+
M1W]AIVQ:IY*S\1(JHII+?UXWQ-JUE*P6\08*T-HX)R+E*.ZCS"4HD8A#J&&N
M.\VI&FRJ4!,4-34XX290_MK7C`6EGDK]HD5/%<%&7E)_S`DN&P&T*:<H*8`G
MT<H&4-#,L7JV,>=CEM7R&$X0`#0^J8WK35MK4!,P``$.<,`#'G`#]:J&2*HA
MY%$G.LO?IH1=R-,*"_?GH/GJ;RQJ\VJFEM0D*IT4;P1`@29LH0_.4K>ZC-'$
M"*4X4Y-4MC\\^MTE+E&)2KSA2;9)$@<4_X``\Z:WQ(0\#3?S`]\-%!-YKA)L
M6)CZ&^>TL)<Z.DJF'"2JJ39'4U@Y6YD(D*(&>""??^NL@R>2BA,TE(EJR*_T
M2#""#;1$BIE(Q,.@%^"WV&4!(S[O`]#+WMWN9#_T11MR?=,7YD"EEHB*WHEX
MV2GK7;;']VS/Z_@3O3&0P<A*0W*2(X((B6F3M'FA$25,@-W&O6$#FKE*CIMS
MP`5(8`$+`#-[W[O>+N&EQ4T5XYNM9QO@P'B"`A+0ZQ1@LR3UJBZ<*C#8H!H"
M/Q\-T(%62#MB:F7M`LL$5OZ(&HJ+R3H!N,VBXH"7+3UB!/C*SJ_&%+2CG=E+
M`0A`P&VAJ[H$Z_^207HY.F8U<.3)IK/H+T&\Y.,+F"DX6]\:(1Q<].]$<A00
M1/C7F;",50U+O7<!IRUGL<ME+YND@1.\X`8?N*AH1I<TN\:^T.MVI[X]\+H0
MW(ST@IE((4:J$+``CNMN<+LK$DT3O$&TOSL!XL90[U]7PM"Q)$X:AZ,AX<PM
MC6V1BUI@'A=1^9MF;C%.KQ@>%O:84T<'S&JK#QANX/#\YA?G7ER\IU0WSB`5
MZI8=NT-^D&VD0A,L,,$A\CJQEC-GY;MFWR%1M?.<LQUU;E==)9_N]GG.K8&@
M5@FX]E?MJ]2F5Y:=:J_,B#H.R:V!<*=;6X"S,J5JUFA8![G6*W*/703_2IHR
MG2H>[,V1&PE=,X35:E9#?\#L_7SM]$+CS%,_*YH_<'5RCO;H;,,D)P5<ZE$]
M.LUR/O-@GA'JJA>.7<10:M<YI0$D:(%8'1]YQ>CC&_^4HAH88'(2WBCC.9(6
M:[`DAC&T!00P@QF\4&^K>K'>]ZM?$\6MQQ0>0\DI5L+4Z[QF%K;3BN[;D_GY
MZZ]&7-'7+VR3[G0IW_(IQC>P`"1@POM$`@DPCN;="'T]A:<QQ>\UD/VESH;,
M#7!DUE442(-XC036B_ZE#@C&G`C*A6^UD!\L"0L(X)]!W@!:1"JP``J<`+S5
M""6,``/:VY/1UU]X6L+UD,QHR`;\7C!]`!^<_\G=-0A_<`DPJ<D1HEZ'[)X3
MML43WM]9B$J^A8M7!0BBB(@FC,+5,1@+OF!A?`,NV(`'3)^/G`"AI9++;1&J
MY!M2B(K<(5X)J@Z]_%!&64^\U*$?SMT\7988X,MR@5NOY-<3%=D<91T9*D0J
MD$`D,)K9%9H<<DP<O@8=!F$(!N+]"9,>HM0O$>$FFE^:S(U=@,RF`%R3`!,6
M>E6;U5*"F$$(:,(]+*(+-F)%?,,,%,[$)$*5L1S:;1%'O<85`J'XH1'O\8%;
M5.%P@8VL"),1VDJ:W,SY*6/OP4RJD(2XP,L50F',:!4XNAI[F(L9=-PS,2(N
M(@0]I$(-3&*-M)P[XO]1EGG:J20A4L@3)4V2".)A":X)+H&-)-WAW/$C!1Y>
M^#$'P0F9/@(BZ@!3S67@F]":)XUA.A8&-M1`#5)&HBE:D_W.A,62PVF&#N'?
MS!BC[TFCW?WC8(E;)P(A)R)'XOU<N$')J]G)A9!D!<Y+2;:BCGB`2Z%C12($
M-K@`)#`*&XJ=3+F9Y:"*8+E*$P:A)I;DZ7'/"2H%5`6?W"&CP!%<J[D:5&!%
M2M!A^44E[^V0U`$+`)[C+09E1:"""70D920"":CA[P0;?166:^#CX(%@X>UE
M0::.J`R?#<5+SQU=5W9EDJSBSIU(XG#)Z/VA`UU<S@$'"`B-1$[D3XJ/"QC_
M0HU@0FQI'D>8@+!MD8U52%T((6KF'\T=HQ32C&!2&+PD'>[UVVD>AS<*H:.%
M3&ST2FN*@3(:H6VFYA"600<@6#%X%E`2"S;,@2E8G>`,6GQ00FO19>-<@NC0
ME_3`F#Q58,RTWBB:XFON#\\)TS7&DT[^9>M5I2R5'_X)I+QL@";D@X,EIY]P
M`PO@"0O4P&893`UTUX]<&&AF0C!N47-87P'Q#^)!9D[F87C.'V0"W.'1'7((
M'4QRST#>X0<L4Y+1IW?("`GHE`>PCH!L2@>88RJ@`()I`T)$4Q@NQ@OX)TRT
M%@*"9B5,SV\UQVOX@<VH46J2YW!$XS&N!35>EF#B_UB36*$0"FEP7",RW@HQ
ML0P;!4:2M":0(FF'*.*&KN6QW,,CSE!UZ`Q6G8CU'!`)-`$)V(4'#$1VV,`O
M=D9KP27U99E2-46._B!D\N."(L=K.M6"[E]D8JA*:D9S",<%YJ08L$`M9BE%
M(@L]:,(;EI,94,A_M)D6^84'F()UN0!"N<`;O,%/)8)"95@F8$++M:&5'8)Z
M<@QC^I)Q4&/-D6*>VN/EX*./T@V$2J/]W8LO'1#4E67.O<"M<6AC:$)Z;-&A
MMJA%8`/?@((FV(`+L``+N("TNH!!P5:`VB5]?2)9(,BF)%S<C"63MN2/>FG#
ME4EWBBOPG>NKXBJ-N89RP/^+%+ZJS'T`EBIJ[7R#!W0%/=+4K'F'/="#.9C#
M-PRL.GS#B7:`&B#E'YD`SOR6K$X6;"*FJU+@)/FAKMJ2YG3G7LY3AVCLQK;>
MZD#(C#D07\J+!]A"NPGK8F@"(B)/"K+`L=B#HRKLPE:B,W9>:=F&><*K:BKI
MCZK1\)F%**ZF#\D*3M)*-/:/R![0FO2F&-1KH*GL881#..Q""'#A1<'LL2RG
M"R2LYM4HSM(&41`HQ6UE-QY<,[[&H'+BT<K*NL9<S#RLY\"%A::%"%PF<FHI
MB]0`M!:K4ID!">P"HZ;""RB:O3E,>$[-V&+;I<0F/;D:II1)743JEIS.QD9H
MQS[_780VI,UZ129"T-TF:LKJK7<0ZX#0E\?L)[%\`RB@P%E9&98E;HREJE5:
MI9SITJ9@[7K`V5F:YG#&A35:(YH\X17VYA0"*;EU(:^.JPAXW.@NJOEX@.QJ
MQAB$U<$TZ@Q2IX\TVIF-TYDU'!,:J$F\"YM,9=NJZWF2I!`J0*=Y"3YN0-$,
MH-1*A#K8@!9]KXC@K9\H@]=Y;>-@ZV]-R/>VCU*NA%Y>:--FKGM6TL5FU!6B
M`/3F;01_1P$^Z6^]B_[Z"9?6@$;0K&?@VYDYQ?2VD".AVMZ]WE0LKU02;<^M
ML#$R([GBV5EP@.IJW?PJF?0.\!C4L,&$P\AE)&6T7.=V_XM3[&OW&L=4'1S%
M;4`'V,P"4Y*9&.K%O47BE@D*(.OS_AG+&C%MB(CSUMHH:"H0O\3NA"TF#O$`
MZTI3:`K\]0>8V,9Q]%[^:4^MR+&/CAL:)\4'6.\+WO!$@`,+L([N'I(?A,`7
M*TTV>%W).92<*M5?I+'K!*KF)##PKN83,ITH4J&\4E6WF,$5-Z(?3P0VS(`)
M=(#P!?`<6)#XW`,N(`(+O($'>\1'SJD9WR7MJC&;,"0@1K$NZW(#>PFF@C+I
M=FC788,M:$(._RT+8/&?C=P=Q>5(4$^G9%8L5DE'29#<0C+UQ#"9`,<35J'Z
MEL'+"*\FP^WNZ:EA&3(NAO+XF/^##9``4[C`/IS/"$\0]83`!`_,.M;`0244
M)339)8B$&MN`#:"`T(!`".Q74XSIT<U%^[&Q1^FK-M.4C6:&4U5CK8Z>.8^B
M.+?L$[%`-ZSS,"^&P;)`B/;'&+``UYE`/4_6!P#K(G;="Z!`M$HK&_Z4)(AF
MWHG(/M2#&?(-W\0`"F19N&!)5`QJP;7T?64SW*#OQR:>'2+PVR5OCHQ!,`MS
M/B]&#"8TUHX!`Z#`!-QR5<^`2PDL-ISU*&A"#;C`6ALTE8``"33$-A#K'H%+
MG8"44KL84X/(4]ZFS(G!.%LR2N)D6]0RB%PU&;)S08""\S"2?CF%86=&.09:
M/="#9;?_`SCP+PW4@!SH+SVP0,-.="R)L$5C)0D&8K]E<GGZ4!ZC1!_TJTAG
M]6(P=EX_F@?P<+L-BT1LPPM4DVBGW5_@4"CJ'[ANYW?&7<C2QE6`0`8'ZT@O
MAOUJ<X*D+ELNA/-=[6\?DB.IS5F0LS?R$!\\XQF!\PJC1>D07P=T0`,T=]0^
MMV)L\;9J-VY7]SIHPOUF-_(L")E8[@*;H(3F7).`VP8P@)ML:X`(1B)4PB%H
M@M]@]<!H0D6?Q.)M42R2=74WQ!S<-WY;(H[:\TDTQ_BYY/!.YLRXA9#53%WT
ME`F@06R)AR0\&8#EF&6MXK\I2B9`@@ML0VP/3#L(@@>(3G\(_\A6;`P73PW4
M7CC2S("&;[CR6A33_NQQ?&N2=H@"S,H&:,2G@JH:)AH3IW=Z?ZA!>>HAC/EJ
M=8!D<,0)S,&");9[+P8V:()!__AM?P)+AS![5R0]9'AM3[2#C*-*`'9=@!ZX
MY3(4+^D'0&*-7`(D*-2&+5%#60-'6$,E%"5'X'@X./C1?(,Y8,,I[$(^I$(R
MWZ@-,/.%FX.>,SG',%6K9,I48(57T3'JQ4N\;,`(1&)Y5,)XQ#+#G,"=2W#Y
MI$(#1+:"B(".(_E"A$,+M#:J$Y?X)D7QKM[+'-/-'-`AG,"'DD`#,(`'),*,
M!K&/'(*%]W&;,X:Z>9T'B'6.E*-LX_]B*A3PE[X[O#-Y;*C3KB(>BBN`06</
M`T"')BB#,0>*7?GOU9@`D=%@=)I`@\OON/>3"P@"/7Q#`[!.LP\6",RWL=,#
M"BC[LL>)QE//4S`A-XH`"K0`BFH"/1A#"\B@)B@?E[I``[3IE9&`"^Q",<"Y
MJ<+$(=0`J<_GPAM&*C0%'+!`B4#IC2ZSL3-$=$/LQB<%&6U)"#BKJO4*`=A`
M-G32-ZB;99,Z/6P#%IA`42;"&SQK/D73,U,&KXO[NC/&-V3\GL%*D>^&T1^]
M0MCOVV\X`;4'[,``"BR``!Q`7?`Q-`V-M<L`-H2A,LP`C(($CJN#PJ?]RGIT
M&O=!W,L]0O#_A44OO;1`/DU5E6,RA]8VQHDB&#VH<D)@0PR<@/9>F1SL/%DI
MMD'<@^GB]XZP?G5C@]\NE8-\O&1M>-%Y#@Y5%@D<LF&$`^LWZH<"\2&X@#=$
MGNL7A"E@-WZGH,4;>PSZ=B.Q@`UH@B8(@@N$@'/%.R3;AE$'"-&!P),$EV#T
M.C&_``O$<B*X@/#[^K&P[)YC(N!3_D%$D_7K"@37PX+I`T#02S5JQA@_@!`F
M5+B084.'@`[VV?#A#Z`^8SHHZ."!!`L4(#J`,&,&1!Q-*#J8>=BG#P@;^?;%
ME#F39DV;-VO2DZ,F4T^?/WLF>@,.9U&C1Y'BI/?O6U*G-35]0'CP_V%5JQ"O
M(A0S)R8]>C?IV7LZEFS9F^8TB5SX`=3-8A^SQKTZID$#$&-`H+"AZ9M7K]A.
MV4#A`453=9I(@.C#<(R",1L:S/EJEG(V$I2`9LZD)A5ESY27-OUL])L'E7*S
M]AFYT(^?/E2I)NSC(15*!:)ETIO3@44J?:.!!X^9[Q.+,:\!F?$PV>:V.<>Q
MHI:>',4H34UV&?5*\UN3$"K]F!ECYH.-%QXZ?``A63A2>B\2:09Z0E-[^S9#
MWX<*8GI5B0>D0D@\$$(`0;&&+OK@.!!8P&8F3390S83.R$J%&7ADPDT_LO2Q
MA880QNN`0ISN>2ZV_E(;@RO/UM'$A`+AH/_!!`_RL<>8C^AR<$.;L$$A/OE\
M>F/$'=O+C\A]4NE@,109`N$`QRKRXX,&;$@E%1H\@`ZA!,U@Z8^+3&`/&Q.6
M[".$(9-ZP01&]D$%%>:.?$J@&3Q@SZAM3&,RKC%8T-`L>K"QTBM;E)$I%198
MT`3..%,AX1(@?3JDACB+9"I.;I1,*+83]U1`@=,0`F$&<'X#E`612")L,`8V
M8."#+L?P0!,W0$WNS+&\T4235&(PA](_^THJ+3WG\D#'([?[U5">(.V)DA/\
M5+8L(XG4+80E]>Q#@0/&4*B/#^J;Z9N34$`DNWVVT?6ZP<;`J]8MS[Q'VGF3
M,L8#;*7CU%N2>I/_E]Y?77PCD4J:K<2$1?]-BEHB6[Q+O'?C\B.$%?*$B"03
MCIV)FV@S-.4%$"%V+81P$RZ9)ANZG4Y?U2YB4%&3XZ0'$1,8,."$9C-)Q`:8
MG5JX6E,&0P_BJ\I+)4N+0/#@!6Q@*NL;8VSPX,"%6B)Y0U0XYME0#_2=SHR-
M>$LE&ZWC5(8$!@Y@%M)+7"B&;.TL_34?K\!)Y0-\KS+CX%06:-<#&[9!F"Q\
ML/DX9`;/;4^?:Z!Y8^>W:[H'A929_':"706'O+U[:KL,YYQ=:$=S_.*>-Y4-
MAF8HHEN-9A#-T>S9I>*%^$T%&V^`TR<2G]H>7=S9\WWL[\Q]%^X]$S[O_^D-
M4XJ?R>=?DZP(.:L^4,!!@?C:,"V\(;JH@XT0>9TL1B2A)!$7Q(?<E&N]_D!6
M7(AO/CA-7/@1YTI.2/_MYRG]9(,QQ)`E;+D&7RU1P`MRLZ-O%&0EJAG#K3SC
M#1:XP`4SR)COZ)&6KBF$4V.H@-7DMZ,,GN!1GTL$"T+(OSB=8S`O^(2)_#"&
MZKVK)9_X58_NUI#6"*A/G_'+9+@1DVADXA%ON*#)U&$<N80'!)JH1P@IQ0T6
MJ*&$!4-!"DLW+VWX:A_FF$,(.H""!F1*4^N)GWV^80,2:(DU"`D!*NQ3'U20
M@`0-B$$]SB@M;+`@=8PY8-:@>!]LN(`$5,39%?_EI\)Y"41L+C"(0D0%R`W5
M(Q4N^,Y#QJ`_T%@I%771U3Z^88H\QFF/E&MC0L:`@FT$4EGC(H']Y(,)$V!1
MDO2B!POP-087$.5?X-#$)1M"!CCJAQXV8$`=-:&/2KP!=SP[7454IQ`Q/(Z5
MORJF"0@&)$RX@):02R*V^#3*'7$N,7AKR3#O0X\5*(`$*,"&'""1"6M8(Q(U
MJ"61L$'&AYAA9-74HPNPJ4T2=)-LWR@&"*"I2W$>J1M1@TZJ9G!/S^SJ&[5A
M``4)J<F8P<&4#>&3O_QIS1>H33,D6.B_%#FO'FG)#&^0J#53,8.0L*!*)S5+
M&NM"`E0H(Q7*L.E]3-'_48:8@04_#:EG;&$"S&B&$K)*9!831@]4F"!E%W'!
M2Z6%%E,$BU(5G<$+0`%29[)O*E1KXE'G-0<3'`*602$!5E$*U7]]Y#3\,BJE
MQ*JL>]R52"\0JFQ"<$2T$JD=NGHE4-Z`PJ?"-9V3VY+KGCC8>;6C'?A(F-$>
M$D-J2O:&+(#E(51`T'^IPP7\"<_($L=990DL$FZCUSW\RCT!+4>URJKDCR)A
M`A".+J4;&I<FC/,E!GV"K[4URQN",@S72FN!)E"+62UKW#B%`P4,.`%`[2G:
MSI*!#+#:P!P$*UTBV>\2E5A$,Y5%#V/$(00Y5(@99B#>.&FB`2[0A$^AV%O[
M_QA-)1?Q``ML(5]EZ6,>FF'F:[.A"?2,YS42"X>`1<A8F.D7.!4U10?&\T`:
MI.+!$(Y3.U`AGTN8((CTR@<V/@$#%KSH,;OU\(OA)N&QF&(/=R##1`AD@UT4
M%\9)205)@9*(297,*PFF@2!DW&/Q4O@IRGC9/C21DL=TH`6VBZZ2B;2,FXD8
M?3S;:V2Q'.:<R-4S1O-4`AJ0@L&@X!3:$#.E4H%<^;R!!!I]\YUM26:SI"(!
M&P@C"FJ`#:_\!L]'VL8;LOF31)S@!78N]*-CIN>Q8&,.#2"`K)I":$C'"155
MS,2S4/#D38]ZD9)V"C=0```&?"*\I-:/*787%*6UVO_5M4ZGJ9&"@B=A8+FV
M/M(<#X$)2'39U\6N%JZ5DHH6Q<#1Q@8.-F9``MTZF]JWYE@&J_2@5/P6&PUP
M<;4W9`Y!@9O<H^&?/E)0%Q2L^QMU>4%=",?C<L^;WLB2-#U,<0``$*`!H1YW
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M[\@&FK]ZU;^1?.4O/_FT3XHRFA#])MA`^M2/_K<]`_TF,($),NA^]`7!A"8L
MH=E$^H8ZOA&.\ZO_&^U(?\<_\PU$S&$.<JB_#>:`?_O7P(8)TP0<X&`&:F`&
M`A`.:B!&X$`3>*ED8HH&9N`!(3`"YP#^;*+XQDQ#.(\Y:N,%.+`#/?`%-NM(
M$`$)_T)!"\#@!$U0"U@!#+(`D=I#$WX@":`@";8`"FQP!F>P!T*07FP!!29`
M!"8@""?`!X,0`U``S.@E%4X`$A+!?,JG"9N0"5UP7O+!-%BF2[!0-4BB_(BI
M!3[@`\1`#,!0#,40##>`"YW"`D/N^)BCT7[H#;UB"GNF+&P@"WA!%W3A#N\0
M#_,0`^Y#$Z#@"[X@#`1Q$`>1"\(@"7;0=!S@!G``!QSQ$27Q!A`@<YRO*.*L
M62YAH!*&:_0%-L@@P(AL!L2P#$KQ%,6@##X`#9-"#4T.`T7-!FB-'ER0%NM#
M$Q:Q-MB-)K`!^V)""K*`#X51&.7P05#@*W3Q&["AIFS')O\T(0D*,1JYH!`5
MD29JHR\*;O9TA9%JHG!&Y!IQ,?F^+14<8!(E\1PK<1_L`1>1<=VVK=&@3'#8
M\1M08&G22%&L!"<^0<Z`A!)<L$>6AA91(!4R2%'&)2?<,29J`QM^BQX.DB;P
MX5ZJP@_(@$).P@:^@ERL)/,R*%HN4B#J41F9L=7>XP-,,17#4!7+0!7/$,ID
M4=#VX1/T(B-#32"R;1%EPA6M#A:9PX**@A9S`P`:X!O>#6$T(0!TK3!FX@6*
MD280(1B'<1C],.0JZ@`.P"'%Z`#V8B$-SAFA,1K!\@NJT5`:``"RH9/JHJ+4
MI2O%)=7"I=V\;5>JY-M0H1S/$1+_S]$!/D\3#J`!D!$`!G(@=^4%C!(P:;$N
M<H[SL$Y_1H$?Y<,27%#7&@`$^S+4=(7S=HLOTY(>RK(7+W-7:D(?N&8B02`[
MX/(`.L,&`$`&+K/1.J_;&N``3B(VM]*=V!(_9F`,PW`W>;,E9[/?Z,N3MJ$N
MO,TUL:XH9,#X>%(F8H#6]J$6]4T3F#*#0'`RZ"M0`L#@;``+.DD!`BP5X-$I
MH3(J^7`*"R?4F)(!P*'=Z,O?!/,FGC$LP1((-NLD#B!0O.T`Q@4S.Z\VO"TF
M-&$`O&TC;],:[?(NT=$AF=(OWZ,F"Z,)PK,MUXTSZY$#QR7G,-$Q-0,R#04\
M.;`!FB`N_SFO*:WD.OGR/M>R*?=!(JLBD[2QDS1A&];-%&P!$<S!WVJBHCH)
M"T(-.'N$\XJB'EH@)4_2%(MT%6,BP6:S2KQ-&1"`ODZB%R.T`I5S)C)0)F!@
M%FL1``X`!/,S-@D3RI02`!!A+^H"``;`=GH4301A/,E3%Z9R']ZMW[#Q`,"A
M'7IT:1H-ZS@F/N63&C=+(/031H>RF.3R>I8/&RX'E/"O`:0T%9J`(&VB+LT1
M0?5R]FR@`>H!+AM@%+!A!5!!5YK"(9NOF%#@1JUR!;PA!0X5)WZL63@T0_3B
MW1"A`;)A+PIG;&9/^;XB4^G1!E#34(F2JV1"-&5+4T)`%/>AV_^LA#A3`15L
M\V66+R:ZS3Y7TQM3`0L`J21-T23!4!53\0-:,H.(LS"8$ARXP=L:8",7$Y!T
MLBO84"9\DD2@TSS$2`:&4LTR<BCO`0`4I3W7+2:<#`#0Y"G?M#QE0HPP!\J&
MDCTG4R:H9$H!]"O_5"Q#,!7N$T;ULRLZD/.L\@`*@P1NL=]D$T#UPL7($4'O
M,AT9UBM&@3T5$@2K1->LLC.F$[8F\RO2R`:8[28:$U:G\`56@"C5531R[@44
MA69E\SI3`0%TC9I`$&D7A:PPB4(4M3XJBA[2E%KU@DGUK0&,H5J7%5@1J(O^
M1F)E0DA+T4B--"57$1^P8#+#\SJK=5W_8S;GLN9=9R]>8T(&M#0WEA8`)B!3
M=1%`UQ58-0$&WFW=CK';@!5-YL`.#Q9.#24X;4@3$,#],*`&^@U`7R!2R_9!
M*/9/DP`&K'%0J20!F@D\,;(P+G/;_G,48A,`3#>-,N\8:X)2'S$2[](!YB$F
M,M4KS+0^,F@@EQ$SMVT?8N`8=:4>D1$$B5)P7A528G4?O`$`)./=WJTIEM$O
M95$Q#8Y..XD!#!-)!".--,0>6-0A)$84C8D@O;%D]\$&5F`QD?<;8N`^][-+
M/5<NP8(4>3.`P[`EK00;L&$;4@$&8!0;M-)NQV4"O`%(J?0"K534EL8HMC1\
MU34V7T83A!(`_XKO0UD`"U"SVUY`?F5"$]R4/.4P4#J#+_M"C`8@7`9R+S)S
M=.5S+`TE8QL``6@+RM0E!+]A40&%+SMC%Y!6$V0`85)6926198/W,.W64"^S
M)IAR'8#5VS+2AK_M9ZDW,H5R+P`@`7"7\VP83CP89`_8@\-%5\Z8)JC6(5ST
M&Q)`*&VG`13`46.BSLPC8[I-*&=3?@>R"3X)/UI@`[H57%62)5,A'X*3.&-S
M7=NM+SOC'JMX@M=P.6/B@I5B"K,G'Q5S,CSS+75EQYH1,_VD#B>7%IKR*["A
M+4!)$TZ!T#HC4(P2A\,R"6B`.UZ&\W##@'MQ403B6+)V]E)!'5[6)O^:&"\M
ME=`")2;V,[(8\M]F(NSLX1XH*DF5L?^4&<@RHWJ1%WM$H_FR9R8\4U+!092@
M&1PZDB;4]UBG(EFU45211!,2AR";T7G411PE%4D`I9]S@A1-<I%-LA21U!;6
MTG9VY8EZ\5P`A1MO0F\WSX)I37*4Q6`G-TZ%PT\K5H<OZT!Y-T%+QHN!Q!(X
MT<1&4X<0PD5+IAY>("5WLTA3L27O0Z+Y5DZ=4T7U`PNRP!?(<P]UFC*P`)>C
M,1%-UV1TUXEQX%(3YA3>X!*@.JJC.A,NP1]+YEY:HS4:+*O-A!6+Y`40^12]
M-5QIVCXRCX(K=RFWC?D2-:CMPP:0X!5:X17_Y%JNPV"NP4"CY\<'MJ"O_9H+
MH(`+^EH'8:8N;^"P'^"P%?NP,Y<!4>`$3`"@3&#%)KNRW7I'\`$E#&2S#20D
M"(0$G/-(\L$&.&`#.*"T33NU2YL#O/HH;%J3Q10%U(QQ:5LO;$NV<3L%9ANW
M0U<XH%6W<WO==#L#0@UF<,$'C7`",$`$,,`#,(`$AE#3Z,4>E$\=VF$=*(L>
MU"$<K/L2R8+]P"$<P,$<Q/L;UM.\>894S5L=S&$=UGL]N:BFJ[1RD;#<I+OF
M6NZUK71/+Z^__?N_`3S`!7S`";S`#?S`$7SME#*3Q047U_+!(3S")7S"*1S"
M"5D*-`$+,GS#=47#LSF\PD'\P36<D`D9"P3A.C0!$4)\Q5D\PE4\Q6&<PE^\
MQ6E<PA'!PQ]\QFM\QUW\PVT<QWD\R-<2QW5\R(6\PA'F>>!PR9F\R9W\R>$0
M'WY(RIF<RJ'\RJ?<+ZP<R[F\R[W\R\$\S,5\S,F\S,W\S,.<="@0O]G<UV:N
MS>'<V=X\SNF\UI;B'_`\S_5\S_F\S_W\SP$]T`5]T`F]T`W]T!$]T15]T1F]
..T1W]T2$]TB4=SP,"`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>sherbcel.jpg
<TEXT>
begin 644 sherbcel.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`!
M````/@```!L!!0`!````1@```"@!`P`!`````@```#$!`@`0````3@``````
M``!@`````0```&`````!````4&%I;G0N3D54('8T+C`P`/_;`$,``@$!`0$!
M`@$!`0("`@("!`,"`@("!00$`P0&!08&!@4&!@8'"0@&!PD'!@8("P@)"@H*
M"@H&"`L,"PH,"0H*"O_;`$,!`@("`@("!0,#!0H'!@<*"@H*"@H*"@H*"@H*
M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"O_``!$(`&,`
MG@,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_
MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C
M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-C<X.3I#1$5&1TA)2E-45597
M6%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ
MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X
M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($
M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B
M<M$*%B0TX27Q%Q@9&B8G*"DJ-38W.#DZ0T1%1D=(24I35%565UA96F-D969G
M:&EJ<W1U=G=X>7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X
MN;K"P\3%QL?(R<K2T]35UM?8V=KBX^3EYN?HZ>KR\_3U]O?X^?K_V@`,`P$`
M`A$#$0`_`/TD_P""D7_!8-?^"?GQQTKX--^SK_PEW]I^%(-:_M+_`(2[[!Y?
MF7-U!Y/E_9)MV/LV[=N&=^,#&3\^_P#$35'_`-&1?^9*_P#O;7E?_!R!_P`G
MP^%?^R4V/_ISU.OS\)`./Y"OZKX+\-^"\VX5PF,Q>%YJDX)R?M*BN[OHII+Y
M(_G#BOC[B[+.(\3A<-B>6G"5DN2F[*RZN+?WL_5<_P#!S7$/^;(__,E?_>VD
M/_!S9$.O[$1^G_"R3_\`*VO@O]ES]@7]JG]LB](^!OPKN;[38IO+NO$%^XM=
M.@(^\&GDPK,,@E(][X.=N.OUUX>_X-K_`-I"^TR.?Q/\?_!-C=G[]M:6]W<H
M@P.C%(^<Y_A[4LUX;\%<DQ#H8U0A-;Q]K6<EZJ,VU\[%9;G_`(MYO157"RG*
M#V?LZ23]'**3^1W2_P#!S;$WW?V(B><?\E)/_P`K:4?\'-<1&1^Q'_YDK_[V
MUY1\3_\`@W0_;#\+:=+J?PY^(?@OQ2T49;[`E[-9W$IQP$$T?E$Y_O2(*^+_
M`(T?L_\`QK_9R\5-X(^./PQU?PSJ2YV1:G:%4G"X!>*09CF7)QNC9E[9KHRC
MA'P=SZ3C@(0J-?956KS>O*YIV\[&&:<4>*F2QYL;.<%W=.FU_P"!*#7XGZ3'
M_@YLB!P?V(O_`#))_P#E;0O_``<VQ.,K^Q'W_P"BDG_Y6U\%Z?\`L8>.+_\`
M8GU']M^ZUVVM=#L_%RZ!;Z7+`_GWCE4)GC;[NQ68IS_$C5XY&25P>HZ_6O6P
MWAGX:XR514,+S<DG"7[RMI)6NOCZ77Y'FXCQ!\0,)&#JXEKGBI+W*6L7>S^#
MK9GZL?\`$35'_P!&1?\`F2O_`+VT?\1-4?\`T9%_YDK_`.]M?E3177_Q";P_
M_P"@/_RI5_\`EAR_\1-XX_Z"_P#R2G_\@?JM_P`1-4?_`$9%_P"9*_\`O;1_
MQ$U1_P#1D7_F2O\`[VU^5-%'_$)O#_\`Z`__`"I5_P#E@?\`$3>./^@O_P`D
MI_\`R!^JW_$35'_T9%_YDK_[VT?\1-4?_1D7_F2O_O;7Y4T4?\0F\/\`_H#_
M`/*E7_Y8'_$3>./^@O\`\DI__('ZK?\`$35'_P!&1?\`F2O_`+VT?\1-4?\`
MT9%_YDK_`.]M?E311_Q";P__`.@/_P`J5?\`Y8'_`!$WCC_H+_\`)*?_`,@?
MJM_Q$U1_]&1?^9*_^]M'_$35'_T9%_YDK_[VU^5-%'_$)O#_`/Z`_P#RI5_^
M6!_Q$WCC_H+_`/)*?_R!^P'P)_X.'O\`A=?QQ\&_!E?V/1IG_"7>*M.T4:E_
MPL#S_LOVJYC@\WR_L";]N_=MW+G&,C.1^ET8(7!]:_FG_80_Y/A^#7_95O#O
M_ISMZ_I97I^)_G7X1XN<+Y%PQF6&I991]G&<&W[TI7:=OM2DU\C]D\,N(LXX
MBP&(J9A5YY1DDO=C&RM?[*1^*/\`P<@NJ_MQ>%`3R?A58X'_`'$]3KSG_@DA
M_P`$X!^W5\6KOQ)\1$N(?A[X3>-M<:%FC?4[AN8[%''*@J"TC+\RI@#!D5AZ
M+_P<AD?\-Q>%4/&?A38\_P#<2U0?UK]`_P#@B[\+='^&O_!.OP))ID"?:?$4
M5SK6ISJ`/-FFG<*3[K"D,>?^F=??X[B;%\,^$&"GA7:K5BH1E_+?F;:\[*R[
M-I]#XK!\/X;B#Q/Q<<2KTZ;<VNDK<J2?E=W?=*W4Z;]M;]IOX9_\$V/V27\:
M^&?!&G1QV)BT?P7X7T^%;>V>Z=6,485``D2*CR-M&2J$#EA7X:_'']OK]L7]
MH3Q3+XG^(O[0'B8EIVDM]-TS5)+.RM!V$5O"0B8'&<%B!EF)YK]>?^"[/[-W
MC_\`:`_8M34OASI4VH:AX)U^/7+S3;=2SSV*P313F-1]YD$BR8Z[$<`$D"OP
ME#*%R>!@<$]!_A[_`%KI\&,IR/$9)4Q\HQJ8ES:E*5I2CV2O=J^]_M/J[:8>
M+&9YQA\XA@X2<,.HIQ2NE+NW;>VUNB[7U]=^#?[>?[8WP&U^+7OAQ^T/XHM]
MDH:6RO=4DN[2?':2WG+QMD9&2N1G@@U^J7[`'_!4WX&?\%&-.C_9N_:X^&GA
MB'QE,@:WT[5=/CNM(U\J,DPQW&_RYP,GR6W9`+(Q^94_%($'H>G6K6A:]K?A
M?7;+Q)X;U6:QU"PNX[BQO;:4I)!,C!DD5ARK*0""/2OO.*N`\CXEPS?(J5=?
M#4BK23Z7M;F7D_E9ZGQG#G&F<9!B4G-U*+^*G)WBUUM?9VV:Z[W1^W?_``72
M\+>&?!/_``31G\*>#?#UAI&EV/BG2TL]-TRT2"WMX][G:D:`*@R>@`'-?AQ'
M_$?4_P!*_7C]KO\`:QB_;-_X(07?Q@U!H_[<74M*T[Q1#$H`348+^W64@#.T
M.I24+V64#M7Y$(""P_VNW2O!\(<+BL!P]B,+BE:I3KU(RZZI0N[];[WZK4]G
MQ0Q&&QF=T,3AW[DZ,''TO+[K=A:***_5C\U"BD+*I`)ZT!@S;%Y8GA5&31=!
M9@6"]<_7%`92=H/-?0WPB_X)3?MX_&O0T\7>'?@->Z3H[QB0:OXINH=*C$9Z
M2!;ETD=".C*I!!!S@UJZM_P2"_;732Y]4\$^%_#/C+[,N^[MO!OC2POKF!?7
MR1*';GLH)Z\<5X-3BGAJE6=*>,I*2T:YXZ/L]='Y,]NGPWGU6BJL<+4<7JO<
MEJNZTU7H?,F]>H.?I2@@C(KMO"/[-'QP\8^,_$/P_P!.^'>I6NL^$_#^H:UX
MCT[4;5X)M/M+*!IIFD1P&5N`JJ1EG=5`.X5Q"*5&&ZYYYKV*>)P]:HX4YIM)
M-V=[)[/YVT[]#RZN&K48*4XM)MI75M5NOEU["T445L8'JW["'_)\/P:_[*MX
M=_\`3G;U_2RO3\3_`#K^:;]A#_D^'X-?]E6\._\`ISMZ_I97I^)_G7\Q>/7_
M`"-\'_U[E_Z4?T+X,?\`(KQ7^./_`*2?B?\`\'(F?^&X_"N#C_BU%A@D?]1/
M4_\`ZU?H7_P1D^).@?$/_@G1\/AI%RAGT*WN='U*!6R8)[>XD`5O<QF*3'I(
M*_/7_@Y##_\`#<GA1D`_Y)18Y)_[">I\5P__``1X_P""CEM^Q-\6+GX?_%.^
MF_X5[XRN(AJDJ#>=)O1A$OL=TVX60#YBBJP#&,*WNYAPUB^)/"#!1PJO5I15
M1);R2YE)+SL[I=6K=4>/@L_PN0^)^+EB7:G5;@W_`"WY6F_*ZL^R=S]Y''F@
ME1D;<"O@;]O;_@A-\'?VC=4U#XH_L\ZK;>`O%UUOFNM/-OG2-3G.26:-/FM7
M8YW21@KG)\LLS,?N[P]XAT+Q+H5IXC\.ZO;WVGW]ND]C?6DZRQ7$3J&21'4D
M.K`@@@X.:ML3*,QC*D=0>M?@.29_G/#6.^L8"JZ<]FNC\I1>C^:TZ:G[7FV2
MY5G^#]AC::G!ZI]5YQ:V_4_FB_:4_8S_`&D_V1/$'_"/_'?X6:AI*/*4LM6C
M7S["\QS^ZN$RCG&"5)#@$;E&:\LD\J1<Y&<\$^W_`.NOZGO%7@OPMXZ\/W7A
M#QKX8T_6-)OHS'>Z;JEHD\%POH\;@JPSSR*_-W]NK_@WW\%^+(+WXC_L6ZDF
M@ZOAII/!&IW+-8W3<DBVG<EK9B>`C[H^0,Q@5_1/"GC7EV/<</G,%1F].>-_
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M`?MA^&UU#Q=I^C)JUAI-]"I_L%2/]'MXHVROVV1GC7>P_=LRJ`A5V;X3_P""
M3OP+TG]H3]OCP%X0\16L=QI.GWTFL:E#(,K(EG&TZH5_B#2K$A!XPQ/.,5^@
MG_!R'\2M1T#]F[P)\*[.Y,<7B7Q;+>7BJ^#+'9P<1D=U\RY1O8HAZBORWC[-
M<5F7$F!X5PTW"-?WJK3LW3N[Q3Z7497[^ZMKW_1N"\MPV`R#&<1UX*4J/NTD
MU=<^GO-=;.4;?/K9GYI_M@?MX_M#?MK>.+KQ+\5_&ETFDM<M)I/A2RN633M.
MCS\JI'T9P`,RL"[8Y.,`>2Z%XA\0>%]9M?$7AC7;O3K^SE\RRU"QNFAFA?\`
MO*Z$%3[KSQ78_!3]F?XR?M!MJ=]\./#44FF:%`L_B'Q%JVHP6&EZ3&V=KW%W
M<.D46<':"VYL':#BNR^(/_!/C]I+P3\(Y?C[HVEZ)XP\%VKM'J/B/P)XCM=7
MM[%EY99Q`Q>+`(+,R@*&7)&:_0:.(X<R>,<NISITTK14+Q6KVBUWDNCUEYGQ
M%6CGV:3ECYQG4;O)SLWMN[]EY:+R/O[_`()D?\%&/%O[7WP-^(?[)OQ]U)=1
M\<Q?#_4?^$?\03A4N=:L_LTB-!.Y`#31F0,&_C1F9AE'9OR4C*XPHX'3C%=A
M^S_\:/%7[.GQET#XT^"[>WGO]!O?-2VN]WDW,3(T<T$FT@[)(GDB;!SAR*Y!
M$"#`_G7'D/#6&R#-L95PL5&E7]G)16RFN93LNB?NM=+MVLE8ZLZS^OG6686G
MB6Y5://&[W<7RN-WU:]Y=[)7U%HHHKZL^9/5OV$/^3X?@U_V5;P[_P"G.WK^
MEE>GXG^=?S3?L(?\GP_!K_LJWAW_`-.=O7]+*]/Q/\Z_F+QZ_P"1O@_^O<O_
M`$H_H7P8_P"17BO\<?\`TD_%'_@Y!=5_;A\*AFQ_Q:FQY/3_`)"6IU^?;8W;
MLY!&,8]^_;_/Y_H)_P`'(14?MP^%2W;X46)'X:EJ?Y\XKQ3]M?\`8U\*_`C]
MFSX#_M!>`;&]6U^(O@Q;CQ%)<7!E1=3$<4IVY^X'24X7_IBQ]:_5^!,SPV#X
M4RG#5':5:/+'UBI2=_DM-[L_-N,,OQ&*XES+$4U=4I)R]&XQ7XM?F3?L%_\`
M!5G]HK]AR>/PQI5V/%7@<S$S^$=8N6V09)+-:2\FV8DDD`-&Q))0GYJ_8S]C
MK_@IY^R9^V;9P:=X`\?1Z5XGE0&;P?X@9;>_5L<B,$E;@=>8F;`ZA>E?SK`,
MN0Q[_E[4Z*>YM9X[JTG>*6)P\4L;[61@<AE(Y!'4'VK/B[POX?XIE+$17L:[
M^W%:-_WHZ*7JFGYE\,^(>=\.6H-^UHK[,GLO[LMUZ:KR/ZK?-C&,MC/KQ37#
M2\QGCH37X:_L0_\`!<[]H_\`9PGL_!7QVEN/B-X/1EC)U&Y_XFMBF0,PW+?Z
MX`9/ERY)X`=!S7[(_LZ?M(_![]J3X76?Q?\`@OXNBU71[TE7(4K-:3``O!/&
M>8I5R,J>Q!!*LK'^9.+.!,^X/JIXN*E2;M&I'6+\GUB_)^=FS^@^&N,LFXHI
MVPTN6HMX2^)>:Z->:^:1X7_P5._X)Q^$?VWO@W=:SX?T2"W^)'A^PDE\*ZLN
M$:["Y<Z?,V0&BD.=I;_5.P<8!=7_```N[.YL+F2PO8'BGB<I+%*A5T<'!#`\
MJ1CIUR*_JM+;G^0]L=*_'O5O^":?PU^(W[>W[17QI^+\EY:?"3X8:I=:]KUG
MI@\N?59I+0:E+9Q,O,:(K,S%<-AD5"I;>GZ5X1\;O+,#BL%CYMTJ45."W=W)
M1<(KJY2E'E6EG=W2NU\%XF\(_P!H8W#XO!12J5&XSZ+2+DI2](QE=ZMI)+9(
MU/VJ?V6?'_[5_P#P3/\`V5[G]EO14N],T/0S;^((5O8[:TM;B2VB%U?7+R.$
MC2.XM;H-(QX,Q`Y8`^)_M8>&[C]I71/A)^Q-^R#:'XHZM\&/"-W!XA\2Z"R.
MFHW-S)%)+':ER&FMX&CVK(./G.`!R?=?^"=W[6/P[_;Z\*_$3_@G+\8_"^@>
M$/#WBC39)?AAHF@:<D4.DJG[QH(^`9IXW5+O>Y+2.LY)Y`KYQ^&OPN^*O_!*
MWXH^(_V@?B];G2/%/A1]2T/X9:=-%N_M_4IK=[=]053]^QM[>Y\YG.`\DD,8
M.3)L^NR9X_`8NM@*\DL3AYU*N'IO7VGUCF:E*:=Y\O/.$N6RAK.7,DFOF,TC
M@\;AZ6,HIO#UXPIUZBTY/8\MU&+7N\W+&<>:[GI%)-N_J7_!%7X/?$W]F_\`
MX*16O@SXX>"Y]!UC5/!.IQ6>GWLT1G#(;>4ED5RR916(R!D9QD`UZE_P<TZ5
M>3:3\&=92,M;P7/B"WDDS@K)(NG%1^(B?\J_/;]F']J;QA\`_P!K;PY^U3J=
M[<ZOJ.G^(6U#7GFF+37\4^]+L,S=7>*64;C_`!,">E?L9_P5H^`ME^WG^P+%
MXV^!<\/B&\T=H?%'A>73V\PZG;>2PFBCP"2SPNS!,99XU7&:XN)XXG(?$[*\
MXQS7LYQY)22:BIM3@UJVTDIIZON^C.SA^='.?#[,<LPB?/"7.HMIR<;PDMDK
MN\&M%V74^,O^"F?PTM_V5O\`@F!^S_\``CP5(+:T\1SOKOBR2W)"ZAJ1LXI2
MTAZL%:X8)G@+$G&5&.0_X(%_&/5/"G[:;?!"ZN!-H/Q#T"]M+[2KB/?#-/;P
M/<I(4Y7<(XIDYX*R,#G(QZ[K6NZ;_P`%:_\`@EIX?^&/@K4[>X^-?P@%NY\+
M/,L=UJ\-O";=WA#G,@EM]LA*C_71;"`&7/BO_!,/X1^*/V0_V@C^V3^UIX2U
MGP!X1^'NDZB89O$NF264^J:C-;26J6-K!,%>YE(FD8A`0NT%BF3790J4JG`N
M9Y9CM<6I5KQ?QSJ2DY4I16\N9N/*U?:RVTXZT*E/C#+\PP?^ZN-*TE\,81BH
MU(R>R<4I<R??7<\(_;]^#7AW]GK]L[XB_"#PE&D6DZ5XCE;2K>/.VWM9E6>*
M')Y^1)%3G^Y7CZL&&17L&IP?$O\`X*$?M=^(?%5G!;6-YXLUF[UC5KN\EVVF
M@Z<I,DL\[GI#;0XRQ&X[``&9U4^5^(+71M/UZ_L_#^LMJ.G0WLL=CJ+VI@-S
M"&(20QDDQEEP=A)VYQDXS7ZOE%6K3P='"XF7-7A3AS]=6K-M^;3MWL?FN:4Z
M<\35Q-"-J,IRY.FE[V2\DU?L5**`0>AHKUSRSU;]A#_D^'X-?]E6\._^G.WK
M^EE>GXG^=?S3?L(?\GP_!K_LJWAW_P!.=O7]+*]/Q/\`.OYB\>O^1O@_^O<O
M_2C^A?!C_D5XK_''_P!)/Q/_`.#D7_D^'PM_V2:R_P#3GJ=?7^L?LB#]M#_@
MB?\`#[X7:3:+)XCT_P"'VF:OX29B!G4(+;Y(LG``E1I(220!YN[M7R#_`,'(
M@+?MP^%L?]$FLO\`TYZG7Z?_`/!.'G]@;X/H0?\`DG^F9/IF!:GB/,,3E7AY
MD&,P[M.G+F7JD_P[]T5D6"H9EQUG.%KJ\)Q<7Z-K\>WF?SBZEIE_H.IW.A:Q
M82VEY9W#P7=K/$4>&56*LC`\A@P(P>>,=JB!!_#K7[7_`/!4K_@C-I/[5VJW
M?Q[_`&=9-/T7Q\ZEM7TJ;$5GKY`P'+CB"XP,;SE7P-VT_/7X^?&/X#?&7]GC
MQ0W@KXV?#+6?#.I*Q"0:K8M&)@"?FC?&R9>OSH64X.#7[9PAQQDW%^"C4P\U
M&K;WJ;?O1?6W>-]FM^MGH?DO%'"&:\,XJ4:T7*FW[LTO=:Z7[.VZ?RNM3D6)
M$@Q)@D8(_P`_K7WK_P`&]_QV\9>"_P!L:7X)6E_-+H/C70[DWMBTA"175K&9
MXK@`_P`6Q98S_>$G/W!7PAINEZGKVIPZ-HNFW%Y=7,BQ6UK:PM)),Y.`BJO+
M$G'`&3BOU_\`^"'O_!,GXC?`+4[S]JS]H30)]&UW4-*:R\+>&[M=MS96\I4R
MW4Z'F*5@`BQG#*K2;QEEQYWB=F>4X+A#%4<9)<U2+C"/5R^RTO[KM)]K'?X>
MY?F>+XGP]7"Q?+3DG.711ZIO^\M+=3]*%897<W.>.U?EY\"O^"KG[*J?M$?M
M!_`G]I"Z2S\">/\`QK?/I6OK!)/:7,)M(M-ECF\I2Z)-!:0NC@%?G8-MXSZ3
M_P`%D?\`@J/X<_9T^'FI_LU?!3Q3#=?$;7;1[359[*8G_A'K61<.[,OW;AT)
M"("&0-YAQA`_XE+E@/+&`!C!/]?RYK\K\,O#A9KDN(Q>9QE"-915.WNS2C)2
MYU==6ERW6J3=K-,_1_$'CQY;FM##9?*,Y4FW4OK%MIQY'KKHWS=FUK=,^S-6
M^%__``3L_8\^*UO\=/!'[;6L_$;^P]534O"/@_P9H\EE>RS1R;X1=:FQ,4,:
ML`)&CC\QU)*HI->X>.?VJ?\`@FY_P5B^&VEW?[8/BJ3X/_%+P];&V@UZUADD
MMIX2^\JC[6$L&XEA%*4>-F.UV!8M^8I4L<GKWRV:;M??PO&.I.#^E?L.*X*I
MXR5.O6Q=5XFE\%9.$9176/+&"@T_M7BW+J[)(_*\/Q94PL:E&GAJ2H5/BI-2
M<9/H[N3FFOLVDDNQ[-^UCIG[*'@-]-^$7[*WBZ^\9V^FW,UQX@^(.JZ;]E;4
MYF")';6T1^:.WB5&.X\R22,<E50GU_\`X)K_`/!7'XF?L,X^&WC/2KCQ7\/)
M[GS?['6XVW.DNV=[VC,<;6."T+80D9!0LQ;X\C#`'=U)ZDTZO7Q7#>6YGD_]
MG9@G6@]6YVYG+^:Z2LUTY4DEHE;0\S#<08_+\T^O8)JE);*/PI?RV;=UWYKM
MO5N^I^G_`,9_"/\`P1B_;F\3/\;?AC^U;+\&/'5_*9]2>XL7M(FNCEC-+#+M
MB$AZEK>=58@DY9F)\0^(O[&W[$.@ZC_PDGQG_P""ONF^*+>UC_T>'PYX6N=5
MO[B/<=L2,+F186(!^\2%)]]U?%LB;L'&>>0:0JYYW-UP!G]:\;!<(8W+5&EA
MLRK*G%62DJ4Y1793E3;M;1)[=#UL7Q1A,>W5KX"E[1ZMIU(IONX1FDWU9])^
M+_VF_P!GNU@L/V9?V:O!6L>"_A7JFM68^(7BK59EE\1>*+5)E+M<O$-D$*+E
MEM8OD+C>=QP!]J_\%>?@9_P32\"_L)6WB7X(:#\/]*\3+<6*^!;GPE+`;C58
MFE03>9)"Q>YC^SF9S)(7PRI\V3S^2R(ZL=H"KQQZC-+A\Y`QC/0`?R_S[56,
MX-C6S'!XK#XFI35"?/))M^U;M\;;NW96UNE%\J221&%XJ='`XK#UL/"HZL>6
M+:2]FM?@25EO?2WO>\VW<6,AEW`Y!)P33J:B[0<]SSDTZOMUH?(O<]6_80_Y
M/A^#7_95O#O_`*<[>OZ65Z?B?YU_--^PA_R?#\&O^RK>'?\`TYV]?TLKT_$_
MSK^8O'K_`)&^#_Z]R_\`2C^A/!C_`)%>*_QQ_P#23\4?^#D)5/[<7A4E2W_%
MJ;'`/3_D)ZG7FOQA_P""L_QCUS]E3X<?LL?`?4]:\$V/A3PQ#I_B;5M/U+RK
MK5YHXQ&H22+:\4&T,2H(+E\-D+@_6_\`P6P_X)U_MC_M<_M4Z!\2/V>O@]_P
MD&BV7P^M--NKW_A(-/M-ETE]?2M'LN;B-SA)HSN`*_-C.00/CW_AR/\`\%/?
M^C9/_+ST7_Y,K[CA/'<$8GA/+89GB:'/05U&=2"Y9:K6+EO9Z76CU6NI\AQ+
MA.+\/Q+CY9?AZO)6=G*-.;O'1Z22V;6MGKML<=^SO_P4\_;?_9EU$7'@/XY:
MMJ-AD&70O$]RVHV3C.2`DQ+1$GJ8F1CW-?9?@G_@XXTCQ!X?_P"$>_:*_9"L
M]4W#-Q-HNKHUO,<=/LMU$^WD=3*W7IQS\R?\.2/^"GG7_AF7_P`O31?_`)-I
M1_P1'_X*>GI^S)_Y>FB__)M>GF^#\),[J>TQ5;#<_P#-&M"$OFX35_G<\_+,
M5XFY13]GAZ-?E_EE2E)?=*+M\K'UCIO_``<%_LN>"1-JGPZ_8AN[+4#%L1K>
MZLK3S`2/E:2.)F`_`]!7@_[3W_!?']KSXVZ7<>%/A-ING?#72;E&2671IFN=
M2*$<K]K<*$]FBCC<<_-7#?\`#D;_`(*??]&R?^7IHO\`\FT?\.1O^"GW_1LG
M_EZ:+_\`)M<>!R7P>P&)5=5Z$YKK/$*?X2FU^!UXS-_%+&4'1=&M&+Z0HN'X
MQ@G^)\J:C=WNIWLVH7]S+<3W$C27$\S[GE=B269B<DDG))Y)S3(U*@YZY[5]
M7?\`#D;_`(*??]&R?^7IHO\`\FT?\.1O^"GW_1LG_EZ:+_\`)M?=KC#A!*RS
M"A_X-I__`"1\:^&.*);X&M_X*G_\B?*=%?5G_#D;_@I]_P!&R?\`EZ:+_P#)
MM'_#D;_@I]_T;)_Y>FB__)M'^N/"/_0PH?\`@ZG_`/)$_P"JW$__`$`UO_!4
M_P#Y$^4Z*^K/^'(W_!3[_HV3_P`O31?_`)-H_P"'(W_!3[_HV3_R]-%_^3:/
M]<>$?^AA0_\`!U/_`.2#_5;B?_H!K?\`@J?_`,B?*=%?5G_#D;_@I]_T;)_Y
M>FB__)M'_#D;_@I]_P!&R?\`EZ:+_P#)M'^N/"/_`$,*'_@ZG_\`)!_JMQ/_
M`-`-;_P5/_Y$^4Z*^K/^'(W_``4^_P"C9/\`R]-%_P#DVC_AR-_P4^_Z-D_\
MO31?_DVC_7'A'_H84/\`P=3_`/D@_P!5N)_^@&M_X*G_`/(GRG17U9_PY&_X
M*??]&R?^7IHO_P`FT?\`#D;_`(*??]&R?^7IHO\`\FT?ZX\(_P#0PH?^#J?_
M`,D'^JW$_P#T`UO_``5/_P"1/*?V$/\`D^'X-?\`95O#O_ISMZ_I97I^)_G7
MX>_LF?\`!'W_`(*+?#/]JGX9_$CQO^SO]BT7P_\`$'1M2U>]_P"$MTB3[/:P
M7T,LLFR.[9WVHC':H+'&`">*_<)00.?4U_.OC7FN5YKFF$G@J\*JC"2;A*,D
MGS;/E;L?NOA+EN8Y;EN)CBZ,Z;<TTIQ<6U;I=*XM!`/4445^*'ZT(5#+M.>?
G>EHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
