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<SEC-DOCUMENT>0001140361-09-003848.txt : 20090213
<SEC-HEADER>0001140361-09-003848.hdr.sgml : 20090213
<ACCEPTANCE-DATETIME>20090213120701
ACCESSION NUMBER:		0001140361-09-003848
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20090213
DATE AS OF CHANGE:		20090213
GROUP MEMBERS:		AARON BRAUN

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WC CAPITAL MANAGEMENT LLC
		CENTRAL INDEX KEY:			0001206633
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	MAIL ADDRESS:	
		STREET 1:		300 DRAKES LANDING RD
		STREET 2:		STE 230
		CITY:			GREENBRAE
		STATE:			CA
		ZIP:			94904

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MONARCH CASINO & RESORT INC
		CENTRAL INDEX KEY:			0000907242
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				880300760
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-49845
		FILM NUMBER:		09600057

	BUSINESS ADDRESS:	
		STREET 1:		3800 S VIRGINIA STREET
		STREET 2:		EXECUTIVE OFFICES
		CITY:			RENO
		STATE:			NV
		ZIP:			89502
		BUSINESS PHONE:		775-335-4600

	MAIL ADDRESS:	
		STREET 1:		3800 S VIRGINIA STREET
		STREET 2:		EXECUTIVE OFFICES
		CITY:			RENO
		STATE:			NV
		ZIP:			89502
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>doc1.htm
<TEXT>
<html><head><title>Schedule 13G</title><meta name="description" content="Schedule 13G" /><meta name="generator" content="Online EDGARforms by EDGARfilings, Ltd." /></head><body style="width:760px; margin:0 auto; font-family:'Times New Roman', Times, serif; font-size:12px; line-height:1.3em;"><div style="border-top:4px solid #000; padding-top:8px; line-height:normal;"><p style="text-align:center; font-size:16px; font-weight:bold;">
						United States<br />
						Securities and Exchange Commission<br />
						Washington, D.C. 20549
					</p><h1 style="text-align:center; margin-bottom:0;">Schedule 13G</h1><p style="margin-top:0; text-align:center; font-size:14px; font-weight:bold;">
						Under the Securities Exchange Act of 1934<br />
						(Amendment No.
						<font style="border-bottom:1px solid #000; padding:0 1em;">
									n/a
								</font>)*
					</p></div><table cellspacing="5" style="width: 20%; margin:.5em 40%; text-align:center;"><tr><td style="border:1px solid #000; padding:5px 10px;"><strong>OMB Number</strong><br />
							3235-0145
						</td></tr></table><dl style="text-align:center;"><dd style="width:100%; float:none; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-size:24px; font-weight:bold; line-height:normal; text-align:center;">MONARCH CASINO &amp; RESORT INC</dd><dt style="width:100%; float:none; text-align:center; margin-bottom:1em;">(Name of Issuer)</dt><dd style="width:100%; float:none; text-align:center; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-weight:bold;">Common Stock</dd><dt style="width:100%; float:none; text-align:center; margin-bottom:1em;">(Title of Class of Securities)</dt><dd style="width:100%; float:none; text-align:center; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-weight:bold;">609027107</dd><dt style="width:100%; float:none; text-align:center; margin-bottom:1em;">(CUSIP Number)</dt><dd style="width:100%; float:none; text-align:center; margin-left:0; margin-bottom:0; border-bottom:1px solid #000; font-weight:bold;">October&#160;27,&#160;2008</
dd><dt style="width:100%; float:none; text-align:center; margin-bottom:1em;">(Date of Event which Requires Filing of this Statement)</dt></dl><p style="clear:both;">
					Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
				</p><table cellpadding="0" cellspacing="0"><tr><td style="width:3em;"><font style="display:block; border:1px solid #000; padding:0 4px; width:1.5em;">
										&#8730;
									</font></td><td>Rule 13d-1(b)</td></tr><tr><td><font style="display:block; border:1px solid #000; padding:0 4px; width:1.5em;">
										&#8194;
									</font></td><td>Rule 13d-1(c)</td></tr><tr><td><font style="display:block; border:1px solid #000; padding:0 4px; width:1.5em;">
										&#8194;
									</font></td><td>Rule 13d-1(d)</td></tr></table><p>
					* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with
					respect to the subject class of securities, and for any subsequent amendment containing information which
					would alter the disclosures provided in a prior cover page.
				</p><p>
					The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose
					of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
					section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
				</p><p style="page-break-before:always; border-top:4px solid #000; border-bottom:1px solid #000; margin-top:2em; padding-top:1em;">
						CUSIP No. <font style="font-weight:bold;"></font></p><ol><li style="margin-bottom:1em;">
							Names of Reporting Persons.<br />
							I.R.S. Identification Nos. of above persons (entities only).

							<p style="margin-top:.5em; border-bottom:1px solid #000; font-weight:bold;">WC CAPITAL MANAGEMENT, LLC</p></li><li style="margin-bottom:1em;">
							Check the Appropriate Box if a Member of a Group (See Instructions)
							<ol style="list-style:lower-alpha;"><li style="margin: 4px 0;"><font style="display:block; width:.75em; border:1px solid #000; padding:0 4px;">
												&#8194;
											</font></li><li style="margin: 4px 0;"><font style="display:block; width:.75em; border:1px solid #000; padding:0 4px;">
												&#8730;
											</font></li></ol></li><li style="margin-bottom:1em;">SEC Use Only</li><li style="margin-bottom:1em;">
							Citizenship or Place of Organization
							<p style="margin-top:.5em; border-bottom:1px solid #000;">California</p></li></ol><div><p style="width:8%; float:left; padding-top:2.5em; padding-left:2%;">Number of Shares Beneficially Owned by Each Reporting Person With:</p><div style="width:89%; float:right;"><ol start="5"><li style="margin-bottom:1em;">
									Sole Voting Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">0</p></li><li style="margin-bottom:1em;">
									Shared Voting Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">865,000</p></li><li style="margin-bottom:1em;">
									Sole Dispositive Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">0</p></li><li style="margin-bottom:1em;">
									Shared Dispositive Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">865,000</p></li></ol></div></div><ol start="9" style="clear:both;"><li style="margin-bottom:1em;">
							Aggregate Amount Beneficially Owned by Each Reporting Person
							<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">865,000</p></li><li style="margin-bottom:1em;">
							Check if the Aggregate Amount in <em>Row 9</em> Excludes Certain Shares (See Instructions)
							&#160;
							<font style="border:1px solid #000; padding:0 4px; font-size:10px; line-height:1em;">
										&#8194;
									</font></li><li style="margin-bottom:1em;">
							Percent of Class Represented by Amount in <em>Row 9</em><p style="margin-top:.5em; border-bottom:1px solid #000;">5.4%</p></li><li style="margin-bottom:1em;">
							Type of Reporting Person (See Instructions)
							<p style="margin-top:.5em; border-bottom:1px solid #000;">IA</p></li></ol><h4 style="font-size:12px; font-weight:normal; font-style:italic; margin-bottom:0;">Footnotes:</h4><p style="margin-top:0; padding-bottom:.5em; line-height:normal;">Reporting Person Type is IA and OO.</p><p style="page-break-before:always; border-top:4px solid #000; border-bottom:1px solid #000; margin-top:2em; padding-top:1em;">
						CUSIP No. <font style="font-weight:bold;"></font></p><ol><li style="margin-bottom:1em;">
							Names of Reporting Persons.<br />
							I.R.S. Identification Nos. of above persons (entities only).

							<p style="margin-top:.5em; border-bottom:1px solid #000; font-weight:bold;">Aaron Braun</p></li><li style="margin-bottom:1em;">
							Check the Appropriate Box if a Member of a Group (See Instructions)
							<ol style="list-style:lower-alpha;"><li style="margin: 4px 0;"><font style="display:block; width:.75em; border:1px solid #000; padding:0 4px;">
												&#8194;
											</font></li><li style="margin: 4px 0;"><font style="display:block; width:.75em; border:1px solid #000; padding:0 4px;">
												&#8730;
											</font></li></ol></li><li style="margin-bottom:1em;">SEC Use Only</li><li style="margin-bottom:1em;">
							Citizenship or Place of Organization
							<p style="margin-top:.5em; border-bottom:1px solid #000;">United States</p></li></ol><div><p style="width:8%; float:left; padding-top:2.5em; padding-left:2%;">Number of Shares Beneficially Owned by Each Reporting Person With:</p><div style="width:89%; float:right;"><ol start="5"><li style="margin-bottom:1em;">
									Sole Voting Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">0</p></li><li style="margin-bottom:1em;">
									Shared Voting Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">865,000</p></li><li style="margin-bottom:1em;">
									Sole Dispositive Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">0</p></li><li style="margin-bottom:1em;">
									Shared Dispositive Power
									<p style="margin-top:.5em; border-bottom:1px solid #000;">865,000</p></li></ol></div></div><ol start="9" style="clear:both;"><li style="margin-bottom:1em;">
							Aggregate Amount Beneficially Owned by Each Reporting Person
							<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">865,000</p></li><li style="margin-bottom:1em;">
							Check if the Aggregate Amount in <em>Row 9</em> Excludes Certain Shares (See Instructions)
							&#160;
							<font style="border:1px solid #000; padding:0 4px; font-size:10px; line-height:1em;">
										&#8194;
									</font></li><li style="margin-bottom:1em;">
							Percent of Class Represented by Amount in <em>Row 9</em><p style="margin-top:.5em; border-bottom:1px solid #000;">5.4%</p></li><li style="margin-bottom:1em;">
							Type of Reporting Person (See Instructions)
							<p style="margin-top:.5em; border-bottom:1px solid #000;">HC</p></li></ol><h4 style="font-size:12px; font-weight:normal; font-style:italic; margin-bottom:0;">Footnotes:</h4><p style="margin-top:0; padding-bottom:.5em; line-height:normal;">Reporting Person Type is HC and IN.</p><div style="page-break-after:always;">&#160;</div><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 1.</h3><ol style="list-style:lower-alpha;"><li style="margin-bottom:1em;">
								Name of Issuer
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">Monarch Casino &amp; Resort Inc.</p></li><li style="margin-bottom:1em;">
								Address of Issuer's Principal Executive Offices
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">3800 South Virginia Street
<br />Reno, NV 89502</p></li></ol><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 2.</h3><ol style="list-style:lower-alpha;"><li style="margin-bottom:1em;">
								Name of Person Filing
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">WC Capital Management, LLC
<br />Aaron H. Braun</p></li><li style="margin-bottom:1em;">
								Address of Principal Business Office or, if None, Residence
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">The principal address of the reporting person is 300 Drake Landing Boulevard, Suite 230, Greenbrea, CA  94904</p></li><li style="margin-bottom:1em;">
								Citizenship
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">Reference is made to Item 4 on pages 2, 3 and 4 of this Schedule 13G (this "Schedule"), which Items are incorporated by reference herein.</p></li><li style="margin-bottom:1em;">
								Title of Class of Securities
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">Common Stock</p></li><li style="margin-bottom:1em;">
								CUSIP Number
								<p style="margin-top:.5em; border-bottom:1px solid #000; padding-bottom:.5em; line-height:normal;">The Cusip# 609027107</p></li></ol><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">
					Item 3. If this statement is filed pursuant to &#167;&#167;240.13d-1(b) or 240.13d-2(b) or (c), check whether
					the person filing is a:
				</h3><ol style="list-style:lower-alpha;"><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8730;
								</font>
						&#8195;An investment adviser in accordance with &#167;240.13d-1(b)(1)(ii)(E);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;An employee benefit plan or endowment fund in accordance with &#167;240.13d-1(b)(1)(ii)(F);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8730;
								</font>
						&#8195;A parent holding company or control person in accordance with &#167;240.13d-1(b)(1)(ii)(G);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the
						Investment Company Act of 1940 (15 U.S.C. 80a-3);
					</li><li style="line-height:2em;"><font style="border:1px solid #000; width:2em; padding:0 4px;">
									&#8194;
								</font>
						&#8195;Group, in accordance with &#167;240.13d-1(b)(1)(ii)(J).
					</li></ol><h3 style="page-break-before:always; border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 4. Ownership</h3><ol style="list-style:lower-alpha;"><li style="margin-bottom:1em; page-break-inside:avoid;">
						Amount beneficially owned:
						<p style="margin-top:.5em; border-bottom:1px solid #000;">865,000</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
						Percent of class:
						<p style="margin-top:.5em; border-bottom:1px solid #000;">5.4%</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
						Number of shares as to which the person has:

						<ol style="list-style:lower-roman; margin-top:1em;"><li style="margin-bottom:1em; page-break-inside:avoid;">
								Sole power to vote or to direct the vote:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">0</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
								Shared power to vote or to direct the vote:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">865,000</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
								Sole power to dispose or to direct the disposition of:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">0</p></li><li style="margin-bottom:1em; page-break-inside:avoid;">
								Shared power to dispose or to direct the disposition of:
								<p style="margin-top:.5em; border-bottom:1px solid #000;">865,000</p></li></ol></li></ol><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 5. Ownership of Five Percent or Less of a Class</h3><p style="margin-top:0;">
					If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial
					owner of more than five percent of the class of securities, check the following&#160;
					<font style="border:1px solid #000; padding:0 4px;">
								&#8194;
							</font>.
				</p><p style="text-indent:40px"></p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 6. Ownership of More than Five Percent on Behalf of Another Person.</h3><p style="text-indent:40px">WC Capital Management, LLC is an investment adviser whose clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities covered by this Schedule 13G.  Mr. Braun is the manager and controlling owner of WC Capital Management, LLC.  No individual client's holdings of such securities are more than five percent of the class.</p><h3 style="page-break-before:always; border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em; clear:both;">
					Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the
					Parent Holding Company
				</h3><p style="padding-bottom:.5em; line-height:1.3em; text-indent:40px">Not Applicable</p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em; clear:both;">Item 8. Identification and Classification of Members of the Group</h3><p style="padding-bottom:.5em; line-height:1.3em; text-indent:40px">The Filers are filing this Schedule 13G jointly, but not as a group, and each of them expressly disclaims membership in a group within the meaning of rule 13d-5(b)(1) under the Securities Exchange Act of 1934, as amended. Each of WC Capital Management, LLC and Mr. Braun disclaims beneficial ownership of these securities except to the extent of that person&#8217;s pecuniary interest therein.</p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em; clear:both;">Item 9. Notice of Dissolution of Group</h3><p style="padding-bottom:.5em; line-height:1.3em; text-indent:40px">
									&#160;
								</p><h3 style="border-top:4px solid #000; padding-top:1em; margin:2em 0 1em 0; line-height:1.3em;">Item 10. Certification</h3><blockquote style="margin-top:.5em;"><p style="margin:0; line-height:1.3em;">
								By signing below I certify that, to the best of my knowledge and belief, the securities referred to above
								were acquired and are held in the ordinary course of business and were not acquired and are not held
								for the purpose of or with the effect of changing or influencing the control of the issuer of the securities
								and were not acquired and are not held in connection with or as a participant in any transaction having
								that purpose or effect.
							</p></blockquote><h3 style="page-break-before:always; border-top:4px solid #000; margin:2em 0 1em 0; padding-top:1em; font-weight:normal; font-style:italic; line-height:1.3em;">Signature</h3><p style="margin-top:0;">
					After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement
					is true, complete and correct.
				</p><dl><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;">February&#160;11,&#160;2009</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Date</dt><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;"><strong>WC Capital Management, LLC</strong><br />
							/s/&#160;Aaron H. Braun</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Signature</dt><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;">Aaron H. Braun<br />Manager</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Name / Title</dt><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;">
							/s/&#160;Aaron H. Braun</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Signature</dt><dd style="margin-left:0; border-bottom:1px solid #000; font-weight:bold; font-size:14px; line-height:normal; width:100%; float:none; margin-bottom:0;">Aaron H. Braun</dd><dt style="margin-bottom:1em; width:100%; float:none; font-weight:normal; text-align:left;">Name / Title</dt></dl><p><em>NOTE</em>: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.
					<em>See</em> &#167;240.13d-7 for other parties for whom copies are to be sent.
				</p><p style="margin-bottom:0; border-bottom:6px solid #000; padding-bottom:2em; text-align:center; font-weight:bold;">
					Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
				</p></body></html>
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<SEQUENCE>2
<FILENAME>misc1.htm
<DESCRIPTION>MISCELLANEOUS EXHIBITS
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    <title>Unassociated Document</title>
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        <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">AGREEMENT
REGARDING JOINT FILING</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">OF
STATEMENT ON SCHEDULE 13D OR 13G</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
undersigned agree to file jointly with the Securities and Exchange Commission
(the "SEC") any and all statements on Schedule 13D or Schedule 13G (and any
amendments or supplements thereto) required under section 13(d) of the
Securities Exchange Act of 1934, as amended, in connection with purchases by the
undersigned of the securities of any issuer.&#160;&#160;For that purpose, the
undersigned hereby constitute and appoint WC Capital Management, LLC, a
California limited liability company, as their true and lawful agent and
attorney-in-fact, with full power and authority for and on behalf of the
undersigned to prepare or cause to be prepared, sign, file with the SEC and
furnish to any other person all certificates, instruments, agreements and
documents necessary to comply with section 13(d) and section 16(a) of the
Securities Exchange Act of 1934, as amended, in connection with said purchases,
and to do and perform every act necessary and proper to be done incident to the
exercise of the foregoing power, as fully as the undersigned might or could do
if personally present.</font></div>
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        <div style="DISPLAY: 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;
December 15, 2008</font></div>
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                  <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">WC
      CAPITAL MANAGEMENT, LLC&#160;&#160;&#160; </font></div>
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      </font></td>
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      </font></td>
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                  <div style="DISPLAY: 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;&#160;&#160;&#160;Aaron
      Braun, Manager</font></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aaron
      Braun</font></div>
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