<SEC-DOCUMENT>0001104659-12-031714.txt : 20120502
<SEC-HEADER>0001104659-12-031714.hdr.sgml : 20120502
<ACCEPTANCE-DATETIME>20120502092828
ACCESSION NUMBER:		0001104659-12-031714
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120430
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120502
DATE AS OF CHANGE:		20120502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WINMARK CORP
		CENTRAL INDEX KEY:			0000908315
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS RETAIL [5900]
		IRS NUMBER:				411622691
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1227

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22012
		FILM NUMBER:		12802930

	BUSINESS ADDRESS:	
		STREET 1:		605 HIGHWAY 169 N SUITE 400
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55441
		BUSINESS PHONE:		763-520-8500

	MAIL ADDRESS:	
		STREET 1:		605 HIGHWAY 169 N SUITE 400
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55441

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GROW BIZ INTERNATIONAL INC
		DATE OF NAME CHANGE:	19930629
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a12-11063_18k.htm
<DESCRIPTION>8-K
<TEXT>


<html>
<head>

  </head>
<body lang="EN-US">
<div style="font-family:Times New Roman;">
<div style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 3.0pt;padding:1.0pt 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C.&#160; 20549</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">of the Securities Exchange Act of 1934</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of report (Date of earliest event reported):&#160; <b>April&nbsp;30, 2012</b></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Winmark Corporation</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact Name of Registrant as Specified in Its Charter)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Minnesota</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other Jurisdiction of Incorporation)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div align="center">
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-22012</font></b></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">41-1622691</font></b></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File Number)</font></p>    </td>
<td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer Identification Number)</font></p>    </td>   </tr>  </table>
</div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">605 Highway 169 North, Suite&nbsp;400, Minneapolis, Minnesota 55441</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal Executive Offices)&#160; (Zip Code)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(763) 520-8500</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s Telephone Number,&nbsp;Including Area Code)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="border-bottom:solid windowtext 3.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:1.0pt 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
</div>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\C901088\12-11063-1\task5319713\11063-1-ba.htm',USER='C901088',CD='May  2 15:23 2012' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 5.02</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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 size="2" style="font-size:10.0pt;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&nbsp;Effective April&nbsp;30, 2012, the Board of Directors (the &#147;Board&#148;) of Winmark Corporation (the &#147;Company&#148;) increased the number of authorized directors of the Company from seven to eight and elected Lawrence A. Barbetta to serve on the Company&#146;s Board.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the Company&#146;s Amended and Restated Stock Option Plan for Nonemployee Directors, in connection with his election to the Board, Mr.&nbsp;Barbetta received an option to purchase 25,000 shares of the Company&#146;s Common Stock.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 9.01</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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 size="2" style="font-size:10.0pt;">Financial Statements and Exhibits</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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 size="2" style="font-size:10.0pt;">Exhibits</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="84%" style="border-collapse:collapse;margin-left:.7in;width:84.94%;">
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.0%;">
<p style="margin:0in 0in .0001pt 9.85pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>    </td>
<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press   Release dated April&nbsp;30, 2012</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="PB_2_103712_7056"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\C901088\12-11063-1\task5319713\11063-1-ba.htm',USER='C901088',CD='May  2 15:23 2012' -->

<br clear="all" style="page-break-before:always;">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WINMARK CORPORATION</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WINMARK   CORPORATION</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:   May&nbsp;2, 2012</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.42%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Anthony D. Ishaug</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="46%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:46.42%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Anthony D. Ishaug</font></p>    </td>   </tr>
<tr>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.42%;">
<p style="margin:0in 0in .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer and Treasurer</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="PB_3_103905_5335"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\C901088\12-11063-1\task5319713\11063-1-ba.htm',USER='C901088',CD='May  2 15:23 2012' -->

<br clear="all" style="page-break-before:always;">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT&nbsp;INDEX</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;8-K</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Winmark Corporation</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="16%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:16.5%;">
<p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;Number</font></b></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="80%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:80.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;Description</font></b></p>    </td>   </tr>
<tr>
<td width="16%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:16.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="16%" valign="top" style="padding:0in 0in 0in 0in;width:16.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press   Release dated April&nbsp;30, 2012</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="PB_4_104040_5796"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\C901088\12-11063-1\task5319713\11063-1-ba.htm',USER='C901088',CD='May  2 15:23 2012' -->

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a12-11063_1ex99d1.htm
<DESCRIPTION>EX-99.1
<TEXT>


<html>
<head>

  </head>
<body lang="EN-US">
<div style="font-family:Times New Roman;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.1</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="268" height="61" src="g110631mmi001.jpg" alt="GRAPHIC"></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contact:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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 size="2" style="font-size:10.0pt;">John L. Morgan</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">763/520-8500</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOR IMMEDIATE RELEASE</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WINMARK CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">APPOINTS NEW DIRECTOR</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Minneapolis, MN (April&nbsp;30, 2012)&#160; &#151;&#160; Winmark Corporation (Nasdaq: WINA) announced today that it has named Lawrence A. Barbetta to its Board of Directors.&#160; Larry has over 25 years of successful leadership experience in organizations ranging from entrepreneurial start-ups to some of the world&#146;s largest software companies.&#160; Currently, Mr. Barbetta is the Chief Executive Officer of eLAB Analytics, a provider of cloud computing based industry-specific business intelligence applications.&#160; Previously, Mr. Barbetta was the Senior Vice President and General Manager at Siebel Systems, where he was responsible for all aspects of the company&#146;s analytics business.&#160; Larry joined Siebel via its acquisition of nQuire Software, where he was the Chief Executive Officer.&#160; Prior he was Senior Vice President and General Manager at Platinum Technology when they acquired Prodea Software, where he was the Chief Executive Officer.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John Morgan, Chairman and Chief Executive Officer, stated &#147;We are pleased to have Larry join our Board of Directors.&#160; He has extensive experience working with entrepreneurial companies, particularly relating to technology initiatives.&#160; His expertise will be highly valuable as we continue to execute our business plan.&#148;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Winmark Corporation creates, supports and finances business.&#160; At March 31, 2012, there were 939 franchises in operation under the brands Plato&#146;s Closet&#174;, Play It Again Sports&#174;, Once Upon A Child&#174;, and Music Go Round&#174;.&#160; An additional 50 retail franchises have been awarded but are not open.&#160; In addition, at March 31, 2012, the Company had a lease portfolio equal to $29.6 million.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), relating to future events or the future financial performance of the Company including statements with respect to our ability to finance the growth of our leasing and franchising businesses for the foreseeable future.&#160; Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated.&#160; Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\C901043\12-11063-1\task5318850\11063-1-mm.htm',USER='C901043',CD='May  2 10:50 2012' -->

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g110631mmi001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g110631mmi001.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"``]`0P#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V:BBN(U_X
MB2>']8FT^XT5G*89)!<`!U/0XVUI3IRJ.T43*2BKL[>BL_0]2;6-'MM1:`0?
M:$WB,2;\#MS@4SQ#JYT+19]2%N)Q!@F/S-F02!P<'UJ>1\W+U'=6N:=%>?Z=
M\4AJ.HVUDNC%&N)5C#-<C`R<9^[7?U52E.F[20HS4MA:*Y7Q9XV/A:\@@?3O
MM*SH65EG"D8."",'\Z6W\77=QX2E\0C1]L<9+")KGEXQU8';Z]N]/V,^52MH
MQ<\;V.IHKB_#OQ!D\1ZNFGP:1Y65+O(UR#M4=3C;R>>E:WBOQ))X8LHKS[!]
MJB>3RVQ-L*DCCC!ST-#HS4U!K4%.+7-T-ZBN(T#XDPZWK$.G/IXM!-G$CW`/
M..`!@<FNWI5*<J;M)#C)25T%%9VO:G+HVD3ZA%:BY$"[W0R;/E'4@X//M6#X
M7\=OXGU1K*/2O(5(S(\C7&[`Z<#;SR:(TIRBYI:('-)V9U]%<YXM\5R>%H[>
M8Z?]JBG8KN$VPJW7&,'M6;X>^(J^(-:BTU=,%N9`QWO<`]!G`&WDU2H5'#G2
MT$ZD4^7J=K115'6=1&D:/<Z@4606Z%]C/LW>V<&LDFW9%MV+U%><+\75=U1=
M#;+$`?Z2.I_X#7HD1D:%&E0)(5!90VX*>XSWK2I1G3^-6(C.,MA]%07DTEO9
MS3Q1K(\:%@C/L#8'<]JX&#XLBXFCACT0AY7"+NN@!DG`R=O`HIT9U$W%!*<8
M[GHM%-4L5!88;'(!S@TDID6%VB0/(%)56;:">PSVK(L?17G4_P`6/LUQ+!+H
M;"2)RC`70(R#@_PU'_PM^/\`Z`C?^!(_^)KI^J5OY?R,O;0[GI-%><)\7X2P
MWZ+(%[E;@$_RKJ_#WBW2_$B,+.1DG09>"48<#U]Q[BIGAZL%>2'&I&3LF;E%
M<UXM\72>%3;LVG?:H;C(#B?:0P[8P>W>I_"?B5_%%E-=_8?LL4<GEKF7>6.,
MGL,=14>RGR<]M"N>/-R]3>HJ&ZN$M+66XD=$2)2Q9VVJ,>I[5Y\/BZK,%70G
M9B<`+<YR?;Y:=.C.I\*%*<8[G7_\)!%_;']G_9Y,;MOF9XSG;T],\5L5C:/$
MU^!J5]HJZ?<,V]$:7>W3&XC``/ZULU,TD[(<;A7GWQ7TCSK"UU>-?FMV\J4C
M^XW0_@?YUZ#5/5M/CU;2;JPE^Y<1E,^A['\#@U5&I[.HI"G'FBT<=\*M7^TZ
M3/I4C9>T??&#_<;_``.?SJO\6-6V6UII$;<RGSY1_LCA1^>?RKDO"6H2>'/&
M$(N3Y:^8;:X!.``3C)^A`-&L32^+O'#I"V5N+@01'TC'&?R!->G[!+$>TZ;_
M`-?F<OM/W?+U,BXLKO3H[.YD4Q_:8Q/`P]`<`_F,_B*]XT#5%UK0K34%QF:,
M%P.S#AA^8-<Q\1M!CE\*0S6T>#I>-H'_`#SP%(_D?PKF/"/BS^QO"VKVC/B6
M-?,M03U9OE('T.#^=9U?]II*4=TRH_NIV>Q0\67DOB;QM)#;'>/-6T@QTX."
M?S)->E^(K.+3OA_?64(Q'!8E%_`8KA/A=I)O?$$FH2#='9)D$]Y&X'Z9->A^
M,O\`D3]5_P"O5_Y5->252%-;*Q5-7C*3ZGG/PM_Y&UO^O5_YK76?%7_D58O^
MOI/Y-7)_"W_D;6_Z]7_FM=9\5?\`D58O^OI/Y-55?][C\B8?P6>4BQNO[/\`
M[16-OLPF\HRK_"^`1GTZ\5ZAX#\<C5%32=5E`O5&(96X\\>A_P!K^=0?#"T@
MOO"NHVMU$LL,MR5=&'!&Q:Y+Q=X3N?"U^)86=[%WS!.#RAZ[2>Q'8]ZUFX5I
M.E+1K8F*E!*:V/5?&/\`R)^J_P#7J_\`*O/_`(3?\C%>?]>G_LZU:M?&XUKP
M7J>F:DX&H):/LD/`G`'_`*%[=ZJ_";_D8KS_`*]/_9UK&-.5.A.,BW)2J1:-
MOXM_\@>P_P"OD_\`H)KS6`WFFO::E#F,[R\$G8LIY'^?6O2OBW_R![#_`*^#
M_P"@FLS1_#_]O_"]DB3-U;W$DL'J2.J_B./RK3#U%"A%O9NQ-2+E4=CT'0M7
MAUW1[?48.!*OS+_<8=1^!K@/BEXB\V>/0K=_DBQ)<X[M_"OX=?RK&\&>,6\-
M1WL$RM)#+&7B3TF'3Z`]_I4G@;1IO$OB=]0OLRQ6[^?.S='D)RH_/GZ"HAAU
M1G*I+9;#=1SBHK=G--:S66II;7";)8Y4#*>QR#C]:^BJ\)\4_P#(]7__`%^#
M^8KW4D`$DX`ZDU&-?-&#_KH505G)'&_$S7?[-T$:?"^)[\E#@\B,?>/X\#\3
M7E]YH=Y8Z-8ZI,N(+[=Y>.JXZ9^HY'TK4US5+?Q1XU\V[NE@TX2")9&)PL2]
M3]3S^==KXGUKPGK'AF;3(=5ME:-`;88.%9?NCI^'XUM3YJ$8Q2WW(E:HV[^A
MK>!=?_M[P]&TK9NK;]U/ZDCHWXC]<UTE>(>`]>_L/Q%%YK[;6[Q%-D\#/W6_
M`_H37MU<6*I>SJ:;,WI3YHG@;HDGC-HY%#(VI$,I'!!EZ5[1_P`(QH/_`$![
M+_OPO^%>)7JS/XGN5MB1.;YQ$0<8;S#CGZUUS:3\3%4L;JX.!G`ND)KNQ$'+
ME]ZQSTY6OI<[/5?!WARYL)A+IUO;!4)\Z)0A3CKD?UKRKP1-+#XRTTPL<M*4
M;'=2#FJTVKZSJLJV5]JUP4=PC"XE(13G'S#TKTWP?X!B\/W`U"[N%NKS:0FP
M82,'KCU/O4O_`&>G)5)7;V'_`!))Q5K&;\7?^/#3/^NS_P#H-,\`ZW8:#X*N
M+N_F$:?:W"J.6<[5X4=S3_B[_P`>&F?]=G_]!KB/#_AK4O$MSY-FFV&,_/.^
M=D>?YGV%%*$9X9*3L@FVJKL:&L^(=:\<ZDEC:0.("W[JTC/'^\Y_QX%=]X1\
M!VGA]5N[O;<Z@1]_'RQ>R_XUYO97>J^!O$K!X]LL1VRQ'[LT?L?0]0:]HTG5
M;36M.BO[*3?%(/Q4]P?0BHQ3E""C#2)5)*3;EN7:***\PZ@HHHH`\=^)ND?V
M?XD%ZBXAOTW].-XX;^A_&KGPITG[1JUSJCK\EJGEQ_[[=?R'\Z[CQ'H_A_4)
M8)-:C:1QE(5#OSW.%4_F<4MEI^@>$0PMQ]D6Z(SN=V!QWYSCKUKT'B;T/9V=
MSF]E:IS=#8N+>.ZMI;>9=T<J%''J",&OGO5-/DTG5+JPF^];2%,^H['\1@U]
M`W-[;V9C$[E3*VU`%+$GZ`5SVI>#?":R/>ZC;8::4;I)+B3YG8X'?U-1A:RI
M-\U[,JK#GV'?#_2/[*\*VY=<37?[^3UY^Z/RQ5SQE_R)^J_]>K_RJT)-/\/6
M%O;%WB@3]W$#OD/L,\FF:Y%I=[8I::H7,,[@*B%P7.,X^7G'Z5CS.57G?<NU
MH\IYE\+?^1M;_KU?^:UUGQ5_Y%6+_K[3^35K6'@G0-,O8[RRM'AGC.599W_(
MC/(]C4NKZ9HOB"Y6PU!6GDMQO\M7=0N>YV\9],\UO.O"5=5%>R(5-JFXG._"
M7_D`7O\`U]G_`-`6NTOK&VU*SDL[R%98)1AE;_/6LO2-*T'P_/+'IP,#R2+$
MZ&5V!?;N`P21G'-:4FI6<-ZEE).JSR`%4(/.<XYZ<X/Y5A5ESU'.)<%:-F>*
M^+/"ESX9O]IW2V<IS!/C_P`=;W'ZUM?";_D8KS_KT_\`9UKT#6K70]:FBTK5
M#YCAA(D6]ER<''(P,X!P/8U3LM#\+>'=6C>V3[-=D;1^]D(PW`#<XY/3/>NM
MXKGH\DD[LQ5+EG=;&-\6_P#D#V'_`%\'_P!!-7_A?_R)Z_\`7Q)_.M'Q'IGA
M[4)[8:X"S8(B!D=5'(!/RG`Y(&3ZT^RL=#\)X@MA);BZ;"INDD4M[#D`UA[1
M.@J:3N:<K53F/-OB#X<?2O$0FM8B8-1;=&JCI(3\RCZDY'UKTOPGH*>'M!AL
M\#SS\\[#^)SU_+I^%:=S96UXT+7$*R&"02Q%A]UQT(_.DBO+>YFFMXI"SQ';
M)A2`#Z9Z9^E34KRJ4U#L.--1DV>(^*?^1ZO_`/K\'\Q7I7Q%UW^R/#K6\3[;
MF^S$F#R%_B/Y<?C23>#?!Y@GU">W+1QEVEF:XD."I.XDYSP0:MW/A7PYKDJS
M3PM=-#&D08W#G"[01W]"#GOFMYUJ<G!M.T2%"23MU.,\%>`+/6M&.H:H9U$K
MX@6)]ORCC)X[G^5=%_PJSP[_`'KW_O\`_P#UJZ+1+?3;.R:STILP6\C1E?,9
M]C#JN2?TJ>WU&SNWV07"2-N=<*>Z$!A^!(_.LJF(JN3<6[%1IP22:/'/'/A5
M/#6HQ"U\QK*X3]VSG)##[P)_(UZ-X!U_^W/#T:ROFZM,139ZG^ZWXC]0:M:O
MI6@>(;]+34$:XGMP<(KN`F>>=O`./7FJ^F>&O#5AJ4\6GPRQ7(C*2[)9>`PZ
M9SC."#ZBKJ5HU*2C._,NI,8.,[K8\I_YG?\`[B9_]&U[U7,O\/\`PM'NF:Q9
M2OS%_M$F1WSG=6WIUU9SV2FSF,D40"98DL,`=<\],'GUJ<35C52<;Z%4H.%[
MGG/Q+\*?9YCKUE'^ZE.+I%'W6[/]#T/O]:UOAMXJ_M"T_L6\DS=6R_N68\R1
MCM]1_*NJOK73?$%G]BN"9H71)BB.R[E.=I.,9!P>/:L:P\&^$Y)3/86SAX'P
M)(YY5PP]#GG\*?MHRH\E2]T+D:GS1,;XN_\`'AIG_79__0:N_"C_`)%>?_K[
M?_T%:UM;TOPYK-K%JFJGS+=%`20S.J`$X!P#CDGK5C1]+T70+6ZDTY3#`&)F
MS(S`%<YX).,>U)U5]75.SN-1?M.8J^,O"</B;3_DVQWT`)@E/?\`V3[']*\S
M\,^(;WP=K4D-S'(("^R[MSU4C^(>X_45[-]OMOL1O3+L@4%B[J5P!['FL#4O
M"_A6]\W6=0MG8S$,\CR2`DG@#;G/H`,4Z%91BZ=170IPN^:.YT5I=V]]:QW5
MK,LT,J[D=3D$5-67HFA:9HD#C2X7BBGPQ5I'8?7#'CK6I7)*U_=V-E>VH444
M5(RE>V$EQ=075O<^1/"K)DH'5E;&01]5'-0ZMHL6KB+S9&0PAMA`Z,<8/OC'
M3H:TZ*I2:M;H*R9GZEIG]H/:OYJHUM)O`9-P;C'J*35='BU<1I//*D2!ODC.
MW<2,9)]@3^=:-%"DU:W0+(IO9-+9V\$L[,T+QN9,<N4(//UQ4>IZ9_:+VS^:
MJ&WDW@,FX'@CU'K6A10I-:A9$;Q!Y$<LX*$X`<@'ZCO^-5#IF=:&I";;B,H4
M1<;_`/>.><=N.,U?HI)M!8S'T;?JGVPW#>695G,.P<R!-@.[TQV]:E?2;>75
M_P"TI1OD6-413T0J6.?K\WX5>HI\\@LBA_9-NVK-J4@WR[55`>B8W<CW^8U#
M>:)]KN9G%TT<-SL^T1;`=^P\8/;T/]*U:*%.2U"R,S5=%BU2:&5Y2CP`^7@9
M`;<I!QW^[T]ZMW-J+E[=BY7R)1(,#KP1C]:L44<SV"R(_*7S_.W/NV[<;SM_
M+IGWJO9Z;#9W%S<+\TES(79C^''Z5<HI786,YM)5M*N-/\YML[2,7V\C>Q;I
M^-+I^E+ID-U%;S-B:0O'N&?*R``H]0,<?E6A13YG:P61EZ3HB:0[F&YFD61%
M5ED.<L,_-GMG-,L-`BL-1^V1SN25D#I@`,6?=N^H''N`*UZ*?/)WUW#E11M[
M"2UOIYHKG]Q.YD>%DS\^`,AO3@<4VWTO[/J]U?B4'[3C*%.1@`=<]./2M"BE
MS,+(CFC$T$D1.`ZE<^F15'1]'72;.2W$QE$C;B=NT#Y0O`Y]/6M*BES-*P65
M[F=I>EMIY)DNFG(B2%,H%VHN<#CJ>3S3M.TS^SY;J03;A<2;_+5-J(?89ZGN
M>]7Z*;DW<+(S#HL3:)%I3R%XXRF25'SA6#8(]\8HM]%6WT:XTP7$CK,)!YCC
M+`-G\\`X_"M.BCGD'*BA'IVS2#8,T3`H5R8LH<^JDG/YTP:3C0AIC3B;";?,
JF3?GG/3/;MSQ@5I44<S"R(;2`VMI#;F5Y3$@7S'.6;`ZGWJ:BBI&?__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
