<SEC-DOCUMENT>0001615774-18-000044.txt : 20180103
<SEC-HEADER>0001615774-18-000044.hdr.sgml : 20180103
<ACCEPTANCE-DATETIME>20180103160422
ACCESSION NUMBER:		0001615774-18-000044
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171229
FILED AS OF DATE:		20180103
DATE AS OF CHANGE:		20180103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MADAR JEAN
		CENTRAL INDEX KEY:			0000901876

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16469
		FILM NUMBER:		18505193

	MAIL ADDRESS:	
		STREET 1:		JEAN PHILIPPE FRAGRANCES INC
		STREET 2:		551 FIFTH AVE 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Jean Madar Holding SAS
		CENTRAL INDEX KEY:			0001535327
		STATE OF INCORPORATION:			I0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16469
		FILM NUMBER:		18505192

	BUSINESS ADDRESS:	
		STREET 1:		C/O INTER PARFUMS, INC.
		STREET 2:		551 5TH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176
		BUSINESS PHONE:		2129832640

	MAIL ADDRESS:	
		STREET 1:		C/O INTER PARFUMS, INC.
		STREET 2:		551 5TH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTER PARFUMS INC
		CENTRAL INDEX KEY:			0000822663
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		IRS NUMBER:				133275609
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		551 FIFTH AVE
		STREET 2:		STE 1500
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176
		BUSINESS PHONE:		2129832640

	MAIL ADDRESS:	
		STREET 1:		551 FIFTH AVENUE
		STREET 2:		STE 1500
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JEAN PHILIPPE FRAGRANCES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CommonStock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.825</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2017-12-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-12-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CommonStock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.825</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-12-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-12-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CommonStock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.825</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2019-12-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-12-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CommonStock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.825</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2020-12-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-12-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CommonStock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.825</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2021-12-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-12-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CommonStock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeTransaction>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.80</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-12-29</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2018-12-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2023-12-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by personal holding company</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.80</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-12-29</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2019-12-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2023-12-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by personal holding company</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.80</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-12-29</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2020-12-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2023-12-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by personal holding company</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.80</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-12-29</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2021-12-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2023-12-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by personal holding company</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Option-right to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.80</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-12-29</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2022-12-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2023-12-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by personal holding company</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <ownerSignature>
        <signatureName>/s/ Jean Madar by Joseph A. Caccamo as attorney-in-fact</signatureName>
        <signatureDate>2018-01-03</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Jean Madar Holding SAS by Joseph A. Caccamo as attorney in fact</signatureName>
        <signatureDate>2018-01-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>s108602_ex24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; text-align: right"><B>Exhibit 24</B></P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">POWER OF ATTORNEY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned hereby appoints Joseph A. Caccamo, Esq. and
Russell Greenberg, the Chief Financial Officer of Inter Parfums, Inc., and both of them, either of whom may act without the joinder
of the other, as the undersigned&rsquo;s true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution,
for the undersigned, and in the undersigned&rsquo;s name, place and stead, in any and all capacities, solely for the following
limited purposes: To prepare and sign any and all Forms ID, Application For Edgar Access (ID), and any and all forms of the Securities
and Exchange Commission relating to such person&rsquo;s beneficial ownership of securities of Inter Parfums, Inc. or any successor
in interest (including without limitation, Forms 3, 4, 5, Schedule 13G, Schedule 13D), together with any and all amendments thereto,
as well as any successor forms thereto, and to file the same with the United States Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to perform each and every act and thing appropriate or necessary
to be done, as fully and for all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming
all that said attorneys-in-fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.
It is my intention that this Power of Attorney remain effective indefinitely, unless and until the undersigned shall revoke same
in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Witness Whereof, the undersigned has executed this Power
of Attorney this 28th day of June 2017.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid">/s/ Jean Madar</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Jean Madar</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned hereby appoints Joseph A. Caccamo, Esq. and
Russell Greenberg, the Chief Financial Officer of Inter Parfums, Inc., and both of them, either of whom may act without the joinder
of the other, as the undersigned&rsquo;s true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution,
for the undersigned, and in the undersigned&rsquo;s name, place and stead, in any and all capacities, solely for the following
limited purposes: To prepare and sign any and all Forms ID, Application For Edgar Access (ID), and any and all forms of the Securities
and Exchange Commission relating to such person&rsquo;s beneficial ownership of securities of Inter Parfums, Inc. or any successor
in interest (including without limitation, Forms 3, 4, 5, Schedule 13G, Schedule 13D), together with any and all amendments thereto,
as well as any successor forms thereto, and to file the same with the United States Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents full power and authority to perform each and every act and thing appropriate or necessary
to be done, as fully and for all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming
all that said attorneys-in-fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.
It is my intention that this Power of Attorney remain effective indefinitely, unless and until the undersigned shall revoke same
in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In Witness Whereof, the undersigned has executed this Power
of Attorney this 28th day of June 2017.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jean Madar Holding SAS</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Jean Madar, President</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jean Madar, President</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


</BODY>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
