<SEC-DOCUMENT>0001193125-14-040655.txt : 20140207
<SEC-HEADER>0001193125-14-040655.hdr.sgml : 20140207
<ACCEPTANCE-DATETIME>20140207160059
ACCESSION NUMBER:		0001193125-14-040655
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140207
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140207
DATE AS OF CHANGE:		20140207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			pSivida Corp.
		CENTRAL INDEX KEY:			0001314102
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				262774444
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51122
		FILM NUMBER:		14584316

	BUSINESS ADDRESS:	
		STREET 1:		400 PLEASANT STREET
		CITY:			WATERTOWN
		STATE:			MA
		ZIP:			02472
		BUSINESS PHONE:		617-926-5000

	MAIL ADDRESS:	
		STREET 1:		400 PLEASANT STREET
		CITY:			WATERTOWN
		STATE:			MA
		ZIP:			02472

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	pSivida LTD
		DATE OF NAME CHANGE:	20050111
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d672696d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 OR 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of The Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): February&nbsp;7, 2014 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>PSIVIDA CORP. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
Name of Registrant as Specified in Its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>000-51122</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>26-2774444</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>400 Pleasant Street </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Watertown, MA 02472 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of Principal Executive Offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(617) 926-5000 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s Telephone Number, Including Area Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
Name or Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;2.02. Results of Operations and Financial Condition. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;7, 2014, pSivida Corp. issued a press release announcing its second quarter fiscal year 2014 results and certain other information. A copy of
the press release is furnished as Exhibit 99.1 hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information contained in this report, including Items 2.02 and 9.01 and Exhibit 99.1, shall
not be deemed &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated
by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 Financial Statements and
Exhibits </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(d) <U>Exhibits</U>. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following
Exhibit is furnished with this report on Form 8-K: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">No.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman">Description</P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release of pSivida Corp. dated February 7, 2014.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><B>PSIVIDA CORP.</B></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: February&nbsp;7, 2014</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Lori Freedman</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lori Freedman, Vice President, Corporate Affairs,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">General Counsel and Secretary</P></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d672696dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g672696g07r01.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PSIVIDA CORP. REPORTS SECOND QUARTER </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2014 RESULTS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WATERTOWN, MA &#150; February&nbsp;7, 2014 &#150;
pSivida Corp. (NASDAQ: PSDV, ASX: PVA), a leader in the development of sustained release, drug delivery products for treating eye diseases, today announced financial results for its second quarter ended December&nbsp;31, 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We continued to advance our own pipeline of products. Enrollment continues on schedule for our lead development product, Medidur&#153; for posterior
uveitis, in the first of two planned Phase III trials,&#148; said Dr.&nbsp;Paul Ashton, President and CEO of pSivida. &#147;Our lead licensed product, ILUVIEN<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> for chronic diabetic macular
edema (DME), moved closer to potential marketing approval in the U.S. and expanded availability in the EU. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;In posterior uveitis we believe that the
trials will show an efficacy profile of Medidur comparable to Retisert<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>, our FDA-approved implant for posterior uveitis currently being sold by Bausch&nbsp;&amp; Lomb, with a side effect
profile superior to Retisert. Preliminary data from a small investigator-sponsored Phase I/II study of Medidur for posterior uveitis patients were consistent with this hypothesis. Medidur, which uses the same micro-insert as ILUVIEN, delivers a
lower dosage of the same drug as Retisert,&#148; Dr.&nbsp;Ashton continued. Posterior uveitis, an inflammatory disease of one of the layers of the eye, affects approximately 175,000 people in the U.S. Responsible for approximately 30,000 cases of
legal blindness, posterior uveitis is the third largest cause of blindness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are very pleased that our licensee Alimera Sciences entered into
labeling discussions with the U.S. Food and Drug Administration (FDA) for ILUVIEN for DME and plans to respond to the FDA&#146;s October 2013 Complete Response Letter (CRL) in the first quarter of 2014. We understand Alimera will be providing recent
safety data from patients in the U.K. and Germany and addressing the concerns raised by the FDA regarding the facility at which ILUVIEN for DME is manufactured. Alimera reported that new clinical trials will not be required by the FDA in connection
with its review of ILUVIEN for DME prior to approval. If approved, we will be entitled to a $25.0 million milestone payment from Alimera and 20% of net profits on sales of ILUVIEN for DME by Alimera in the U.S. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are also encouraged by the speed with which ILUVIEN has been made available to U.K. National Health Service (NHS) facilities. Less than seven weeks
after the final </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
guidance from the U.K.&#145;s National Institute for Health and Care Excellence (NICE) recommending ILUVIEN as a treatment option for pseudophakic eyes (those that have had cataract surgery) with
chronic DME considered insufficiently responsive to available therapies, initial orders were shipped to NHS hospitals and the first NHS patient was treated. Until receipt of this guidance, ILUVIEN had been available in the U.K. only to private pay
and privately insured patients, but will now be available through the NHS to this typically large subgroup of chronic DME patients, subject to a patient access scheme. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We continue to be encouraged by our studies of potential ophthalmic and non-ophthalmic uses of Tethadur&#153;, our second key technology platform
designed to provide sustained delivery of peptides, proteins and antibodies. The importance of these biologics in treatment of ophthalmic disease makes Tethadur a very promising technology,&#148; continued Dr.&nbsp;Ashton. The use of Tethadur in
certain ophthalmic applications is being evaluated under a funded evaluation agreement with a leading global biopharmaceutical company. Other major pharmaceutical companies are evaluating pSivida&#146;s technology platforms in other ophthalmic
applications under funded agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Revenues for the quarter ended December&nbsp;31, 2013 totaled $592,000 compared to $585,000 for the prior year
period. Increased collaborative research and development revenue was offset by lower Retisert royalty income from Bausch&nbsp;&amp; Lomb. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Net loss for
the quarter ended December&nbsp;31, 2013 was $3.5 million, or $0.13 per share, compared to a net loss of $2.6 million, or $0.11 per share, for the prior year quarter. The higher net loss in the second quarter of fiscal 2014 primarily reflected costs
associated with our Phase III clinical trial of Medidur for posterior uveitis, which commenced in the quarter ended June 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Revenues for the six
months ended December&nbsp;31, 2013 totaled $1.2 million compared to $1.1 million for the six months ended December&nbsp;31, 2012. The Company reported a net loss of $7.2 million, or $0.27 per share, for the six months ended December&nbsp;31, 2013,
compared to a net loss of $5.2 million, or $0.23 per share, for the same period of the prior year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At December&nbsp;31, 2013, cash, cash equivalents and
marketable securities totaled $15.7 million compared to $16.5 million at September&nbsp;30, 2013, reflecting approximately $1.2 million received from an existing collaboration agreement and approximately $1.25 million of net proceeds from sales of
common stock under pSivida&#146;s at-the-market (ATM) offering program. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Today&#146;s Conference Call Reminder </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">pSivida Corp. will host a live webcast and conference call today, February&nbsp;7, 2014, at 4:30 pm ET. The conference call may be accessed by dialing
(877)&nbsp;312-7507 from the U.S. and Canada, or (631) 813-4828 from international locations. The conference can also be accessed on the pSivida Corp. website at <U>www.psivida.com</U>. A replay of the </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>
</B>call will be available approximately two hours following the end of the call through February&nbsp;14, 2014. The replay may be accessed by dialing (855)&nbsp;859-2056 within the U.S. and
Canada or (404)&nbsp;537-3406 from international locations, Conference ID number 52647338.<B> </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About the Clinical Trials/Studies </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">pSivida has initiated the first of two planned pivotal Phase III trials of Medidur for the treatment of posterior uveitis. These trials are expected to enroll
a total of approximately 300 patients. The primary end point is the recurrence of uveitis within 12 months. pSivida will be permitted to reference much of the data, including the clinical safety data, from the clinical trials of ILUVIEN for DME
conducted by Alimera. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The investigator-sponsored Phase I/II study of Medidur for posterior uveitis is a three-year study that will evaluate the safety
and efficacy of Medidur in up to 12 patients with posterior uveitis. Interim results were measured on the twelve month anniversary of the start of enrollment. Through this period, none of the eyes receiving Medidur experienced a recurrence of
uveitis and inflammation was reduced in all of these eyes. In contrast, all (untreated) control eyes had either a recurrence of uveitis or a worsening of inflammation. Furthermore, at the last follow-up visit reported in interim results, best
corrected visual acuity (on the Early Treatment Diabetic Retinopathy Study eye chart) improved by an average of more than nine letters in treated eyes while untreated eyes declined by an average of one letter. Interim data showed that Medidur was
well tolerated, and the observed safety profile was consistent with the short-term safety profile reported in clinical studies of ILUVIEN in DME eyes. Only one eye receiving Medidur measured an increase in intraocular pressure above the normal
range. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About pSivida Corp. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">pSivida Corp.,
headquartered in Watertown, MA, develops tiny, sustained release, drug delivery products designed to deliver drugs at a controlled and steady rate for months or years. pSivida is currently focused on treatment of chronic diseases of the back of the
eye utilizing its core technology systems, Durasert&#153; and BioSilicon&#153;, including Tethadur&#153;. The injectable, sustained release micro-insert ILUVIEN<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> for the treatment of chronic
DME considered insufficiently responsive to available therapies, licensed to Alimera Sciences, Inc., is marketed in the U.K. and Germany and has also received marketing authorization in Austria, France, Portugal, and Spain and is awaiting
authorization in Italy. Alimera has filed for ten additional EU country approvals through the Mutual Recognition Procedure. Alimera is seeking FDA approval for ILUVIEN for DME in the US. pSivida has instituted the first of two planned pivotal Phase
III clinical trials of Medidur&#153; for the treatment of posterior uveitis, a chronic back-of-the-eye disease. An investigator-sponsored clinical trial is ongoing for an injectable, bioerodible micro-insert to treat glaucoma and ocular
hypertension, a product candidate on which Pfizer Inc. has an option. pSivida&#146;s FDA-approved Retisert<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>, licensed to Bausch&nbsp;&amp; Lomb Incorporated, provides long-term, sustained drug
delivery to treat posterior uveitis. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made in
this release are forward-looking, and are inherently subject to risks, uncertainties and potentially inaccurate assumptions. All statements that address activities, events or developments that we intend, expect or believe may occur in the future are
forward-looking statements. The following are some of the factors that could cause actual results to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements:
uncertainties with respect to: Alimera&#146;s ability to finance, achieve additional marketing approvals, obtain adequate pricing and reimbursement for, successfully commercialize and achieve market acceptance of, and generate revenues to pSivida
from, ILUVIEN for DME in the EU; Alimera&#146;s ability to obtain regulatory approval for, and if approved, to finance, successfully commercialize and achieve market acceptance of, and generate revenues to pSivida from, ILUVIEN for DME in the U.S.;
the ability to finance, complete and achieve a successful outcome for Phase III trials for, and file and achieve marketing approvals for, Medidur for posterior uveitis, including achieving acceptable risk-to-benefit and safety profiles in light of
the CRL for ILUVIEN; initiation, financing and success of Latanoprost Product Phase II trials and any exercise by Pfizer of its option; ability of Tethadur to successfully deliver proteins, peptides and other large biologic molecules; ability to
develop product candidates and products and potential related collaborations; initiation and completion of clinical trials and obtaining regulatory approval of product candidates; continued sales of Retisert; adverse side effects; ability to attain
profitability; ability to obtain additional capital; further impairment of intangible assets; fluctuations in operating results; decline in royalty income; ability to, and to find partners to, develop and market products; termination of license
agreements; competition and other developments affecting sales of products; market acceptance; protection of intellectual property and avoiding intellectual property infringement; retention of key personnel; product liability; consolidation in the
pharmaceutical and biotechnology industries; compliance with environmental laws; manufacturing risks; risks and costs of international business operations; credit and financial market conditions; legislative or regulatory changes; volatility of
stock price; possible dilution; absence of dividends; and other factors described in our filings with the SEC. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should known or unknown
risks materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected in the forward-looking statements. Our forward-looking statements speak only
as of the dates on which they are made. We do not undertake any obligation to publicly update or revise our forward-looking statements even if experience or future changes makes it clear that any projected results expressed or implied in such
statements will not be realized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Follow pSivida on social media: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Twitter: <U>https://twitter.com/pSividaCorp</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Facebook:
<U>https://www.facebook.com/pages/PSivida-Corp/544893792199562</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LinkedIn: <U>http://www.linkedin.com/company/psivida</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Google+: <U>https://plus.google.com/u/0/b/113754643626984244726/113754643626984244726/posts</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The President&#146;s Blog: <U>http://www.thechairmansblog.com/paul-ashton</U> </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information on pSivida, visit<U> www.psivida.com</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>In US: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Martin E. Janis&nbsp;&amp; Company, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Beverly Jedynak </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">President </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 312 943 1123 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">M: +1 773 350 5793 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>bjedynak@janispr.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>In Australia: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">pSivida Corp. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Brian Leedman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Vice President, Investor Relations </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+61 (0)&nbsp;41 228 1780 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>brianl@psivida.com</U> </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PSIVIDA CORP. AND SUBSIDIARIES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Unaudited) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(In
thousands, except per share amounts) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Three&nbsp;Months&nbsp;Ended<BR>December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Six&nbsp;Months&nbsp;Ended<BR>December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collaborative research and development</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">195</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">473</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">364</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Royalty income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">292</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">390</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">716</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">774</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total revenues</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">592</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">585</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,189</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Research and development</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,494</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,575</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,998</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,098</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,711</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,658</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,522</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,278</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gain on sale of property and equipment</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(72</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(72</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,133</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,233</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,448</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,376</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loss from operations</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,541</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,648</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7,259</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5,238</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income (expense), net:</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expense, net</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total other income</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loss before income taxes</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,540</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,645</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7,257</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5,229</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax benefit</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net loss</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(3,514</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(2,608</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(7,201</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(5,159</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net loss per share:</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic and diluted</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(0.23</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average common shares outstanding:</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic and diluted</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,953</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23,297</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26,435</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22,795</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PSIVIDA CORP. AND SUBSIDIARIES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONDENSED CONSOLIDATED BALANCE SHEETS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Unaudited) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(In
thousands) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>June&nbsp;30,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Assets</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Current assets:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash, cash equivalents and marketable securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,721</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">10,273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other current assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,511</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,191</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current assets</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17,232</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,464</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intangible assets, net</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,430</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other assets</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">460</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">355</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total assets</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,819</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16,249</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Liabilities and stockholders&#146; equity</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Current liabilities:</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts payable and accrued expenses</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,380</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,565</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred revenue</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">771</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">738</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current liabilities</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,151</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,303</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred revenue</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,069</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total liabilities</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,220</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,549</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Stockholders&#146; equity:</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Capital</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">282,443</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">270,438</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accumulated deficit</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(270,859</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(263,658</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accumulated other comprehensive income</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,015</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">920</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total stockholders&#146; equity</P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,599</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7,700</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total liabilities and stockholders&#146; equity</B></P></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20,819</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16,249</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g672696g07r01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g672696g07r01.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`6P"K`P$1``(1`0,1`?_$`,8```$#!0$!````````
M```````!!PD$!08("@(#`0$```<!`0```````````````@,$!08'"`$)$```
M!0,#`04%`P@(!P`````!`@,$!1$&!P`2""$Q01,4"5%A(C(5@<$6<9&AT4(C
M%PKP4F*2HC-#-+$D1"4U&!D1``$"!`0#!00'!`4'#0````$"`P`1!`4A,1(&
M05$'88&1(A-QH3(4\+%"4F(5",$C,Q;1LM)STW)3DR14E!?A\8*BPD.#L\,T
M=-1%_]H`#`,!``(1`Q$`/P#OHTA!J%:TMIU*R]A/U0)`Q.4)4`$`ZU-6G0>[
MK[*!KTJ`1K/P_3AG#(3X0Q&7N36$\'([<AW]#QDB9+Q4[<:*C*7.Y`0^`$(-
M@"KU,%!Z`=4$TP[1,`:R#;^U[[NE11:Z=Q:?O?`F67Q+D/"+;7W:@MZ`:AP)
M)Y`J/N!C5F`YT7AE^0,RX_\`'N\[Q:@H9$UQ7"]1@H,HE,)1,X7137:H!0*A
M5R!Q[*:RFIZ>V_;Z@=T5Z*=:YZ4)FX21\0/IZ],ICX@)SPBDI[F[6)*Z`%:1
MGP]GQ2C8^WU.5,J5->XV>'[23,!3?3T1N2XWB0&$*D453>M6XG(7O`Q@$=8Q
M5T^UF5E-*NI>(R5\(/+`@'/LBJ2[<RH:D23,3Q&7C#Q1+:]TBE";DK8=F_;-
M&1DLP]G8"LHY+]@AJR.*:6)`&+GQG&6]P>V@;O8)N\0]VJ=*0D2$(-10@TA!
MI"#2$&D(-(0:0@TA!I"#2$&D(-(0:0@TA!I"*9XZ;,6KAZ\63;-&B1W#ERLH
M1%%NW1**BRZRRABIHHI)E$QCF$"E`*B-->I]4J"6$E;I4``.,S*('/3T$NF3
M8Q)]D<_',;U9Y.9FY'$7$IP8R2;\EO2^64$!=O9N2<."L3Q6,8Q1,3.P\R?P
MRR)B'%90?W!*`)]=&[)Z/,-42=Q[P(:I#)0;/`<"HY$\99>V-:7O>(4^;;:#
MK?RF(=?B)Z;3^8!OE[EDM+3=QSQR2R6/I.2</'JBBI@51>Y"E5%E74A(JDH;
MR*9RIHE':L(F`0U0[XZLM4C2K%L5EIBE9_=^J`D%83Y9ID..>J?C%?M_;]6^
MH5=X)45>;2>$\?=$TD/!P]O1C.%@XF-AXB/2218QD8R;LF#1%(H%*DW:-DTT
M4B4`.P*B/4=:"=J7:QU554+6NJ7\142?K,9\$,M@-LITI'9%V$1,(B/:(_T_
M-J"/832$&D(-(0:0@TA!I"#2$&D(-(0:0@TA!I"#2$&D(-(0:0CR8P!7O$``
MP@';0=W4`]XE'\VI>N2U:Q)"`"/Q$SP[I>^/$I*U^G,@*&?+_GCE_P#6*]1%
M_)W1+<-<-7`=O"Q!@1SO<T>\43-)R2I2JH8W9/6ZA#DCF:1@/+"`T45,"`!L
M3.&NM^@72];C(WSN!A"J<!7I)6F:0%)D5B?$3F.4I@XQHWJ+OI)JE[8M;BDU
M"!YE),B2,93'LE&PWI`<&6D%:L+RCRG"D7G[@;"YP_;D@V(8L#;IRF2+>B[5
M8GAI3$TF82L.@>7;AX@?$I76.=<NI`JJK^4+$M1M[)DXI)P)E/0)<!]KN'.,
MBZ>[9;9MB+U6H2:MTX*4/,,3C,X\(GY)X:A=Q-IBE'=4!*(@80ZU$/VA[_:.
MN;E)"OBQEE&TB"@Z9SEA'O41).!CR9.<&O(0:0@TA!I"#2$&D(-(0:0@TA!I
M"#2$&D(-(0:0@TA!I"#2$::<_.3;3B)Q4RQFP5$/Q!"PA86Q6;@Q=LE?ERJA
M$VJU*4P"!P;R"WFCD[TVQM9OTZVRG>6[Z/;ZQ^X6Z"X?NM@@D]^7L)C$]\;E
M;VIM>JNJ@2\$%+8!`)6092GRCBRX`8/F.7_+''M@W(^D9A"Z;@D+_P`ISCDY
MG+IS;\2[_$-V/7#E83"`SCA8&Q3F&A5'>TO84-=Z=4+ZC8.P'F*0!&EH-,I3
MA,K(1/NU3[HY"Z?VVNW1NI(J70JI>67%KD2$)3YB@C.:@DI'"9$X[H\OY#C,
M&8S*[BXIN=^@C%VC8%M-@!%)[,N-D?;L2@FF`'\FTV%,J4ORI(B/?KY[[7L]
M9N>[*:<5.2E.ON$?8Q)'83.0.4X[`W+?:;;-I;;2@DK*6FT"0.J4M7*0D3SA
MR[)A7L#:D)&RKQ21F4F2;B9D5?B.\F'H^=E5=I@HDD+Y8X)E+T(0``.S5HN+
ME,[<'W*-)12*=64))F4HU'2)\9"6,7^A0\W1M(J%:J@-I"CE-4A,R]L95J@<
M4M(FA!7CP('UQ5#%03SG[H\[@^SL^W\FCBBVM*""=7NB4'FM)43*1E"U'V::
MQV>(B;J;YGP,)N[0`*B`5I[>W]6HDJ0HZ9R/N\<H]2E2U8#]U][MY2SBG6>(
M-4S+NU4FR!*`=99=$B9!$.H"<YRE"@].HAJ<AI3JM#,UK.02"9^$2*JH9H_-
M4*0AGBI2@D#E/41GD(L1KTM,HT&Y(&O4!_[S%A00&@A\3LM1#58+1=CE35'^
MC7_1%#^>67_:Z7_2H_M17L)^&E!VQTK&/3[MHIM)%FZ4Z]@[&ZRHT'5+44M5
M2E/KM.I2HRF4*$B,YS$3V;A25!TM.LE1Q2`X@E0X$2)SBN<O&[-$SATJDW0(
M7<HNNJ1%)/K0`444$I25,(!U$.HZIT'USZ=("Z^20$)S)`F?")CU2FF1ZE6/
M39&:B1(<L<C./N10B@%,0Q3$.`&*<I@,4Q1"I3%,`B!@,'4*=VH/43I5GZB%
M24GB#AGXQ/;5K:#N`2?AQ'F',1[U,B*/(B("``6M:=:@%*]]/=J$J3C+%29$
MCD#Q]T>I$R=4@.':>(EV10,Y>+D5'2+"08OE6*XM7R;)VW=F9.2@(F;NP;J*
M"W6+3J4]#>[4YUEY@!;R%(:4D%*E"05,RPG]>44E-5LU2U--*27$&2@"#I]L
MHN/?3]-!U``93,@GG,1/*E),B/+SF(^*BQ$BG44^!-,ICG4,(%(4A0J8YC&$
M`*0"A41'H`=NI:5A14.((`_$3E*)AD%I22-)253G@)2S\8I8V5CY=L1Y&O&C
M]FJ)RI.V#E%ZV5%,XIG!-PV.J@82*%$H@!A$!"@ZF.)<IUEJJ2IIX*EI4#/A
MCV9Q+IG6JMA-13K2MI0G,$$>,7#0R2)J,HF2G\!!,(`U[/\`AJG4^$N>F0?;
M*/0A?VQI[Q^R#XOZH_HU5:4_>$>Z4_>$<M/\RSEMTS@^+6"F#DQ$;BN&[LHW
M(V(<Q0<-;99M;<MPBI`Z'`9";=&+[#$]P:ZU_2CM^FJKI=MP/)F[3L(0DGAJ
M"U&7;Y4QRY^I>].T]%:+,TH@/5*E+'X06P)^)BR?RXN.6SRX^2.7'J`*K0,+
M9..HAP)`'R_UT[NX9I-"E`(50D2TW!W_`&ZN/ZLKUHJ+59TDC0@N*'/%0F?9
M#].UK0[\_<7!-6M(23PE(R[XE]Y(W"I>'+?`F,U%!5AK6G(B>?($/7?-R2J[
MI$3!\O\`R[&.23`1Z@"HT[1KKW8-G1:^EM\W:4@5+S:FFSV>7$=DP8R3J%<%
M7#J3:+$VK_5D$+4`?M2.?(F)-0$1`!$*"(`(AVT$0J(5[Z#KG9`*4!*C,@9Q
MOY4@H@93A!,("``%:_=KW0EP@*)!B%4@@N'[,:LY]YD\>^,MWX\LW-V06=@2
M64&-W2-I/)1F\^B*L[$C4I:Z'4Q-)H*1T(@R9N4P3%<P&<*J`1,#'$`'(+'M
MC<&X4N?E37KEI20J4L-1D)SD!/*9(`XF,?NFZ+%9%I;N!"2M!4.W2"3(9DX9
M`$F-.G?K4<)TSJ?33\@[B8AM%O/V[QMRW*P,BF<Q@2<Q3[\.MP?M5Z5(H0HE
M.!@$.@ZSL]&-^`R534@/+YJFG_YD8E_QDV;+$U?^[._V8V/XR^H3Q8Y:3\]9
M^(,A.%+]MQB61F<=7O;<_C_(#*-$^P9(+6NAA&OG3%,_PG61\4J8_,`!K&]T
M[!W3M"D377NE2W;ES!6VM#J1*6"E-J4$SGAJE/A%^V[OO;FZ*M5-;75_-)TD
M-N(4V3G\*5@%7;*<-C>%J-L^<P+KQKD68F#V-CZR8N6@+38RSN(93;R129KN
M5W/E#E5>*%%<3"8@;J%$*@%:9S;JMW:72REW!MUEHW&JJU(4^I(66P`,""#(
M$8"8XYSC7==2,[NZF5EDO;SB;53,)(9"BC63.1&*9Z3C@>$/^3A1QHV$#^&;
M$P`'0?K-RF'W@(C)@(B`]X@&L/\`^*O4'_:J<?\`@M?X<90>E&Q"<&GI?WR_
M\2&XR=PHQ\WM*:E,)Q,K9&2XY`KRUGT1=$VR15E&JJ:B*+H7[U5N5!8.@F';
MT[PU?+)U8O?SC-)NTTK]E6LZQZ+8,CVI0#/G%FN_2FU)I35[:74-7-L^0%Y1
M&'8I9PY0Z=\-V!N,YT.1KEY'-4K/B4<DK0:ZKA^FZ2.V!RJU<1B:RQE!=D3,
M)D2B/40J`5UBUL*5;Y4[LQH*=<>460KV3(DH@<P(RVH]*DV<W_.+B@EJ0=E/
M'$!.46V:Y38#P]>G'G!US73(0$_G:)2886-)PDJ,)<YX=@U$L.M<_EPC&-Q*
MLSIG*V<G365%0NT!$=6]O:>X;FU<;Q3-(5Z#Q+Z005)D05'1\1`$\0)"1Y&*
M]>X=O6]='2/.*2A]`#)((!G@!J.$YX8QMB(E`:;B_P!X/UZQV7*,HPQY#/LC
M72[N5.&K*Y!X\XP2MQ.U\UY+@)*ZK9LZ'A).943MR(\?SLW<,@Q148VS&E,W
M,!%7ADRJ"%"UU>J?:UYJ+,[N4-Z;&EQ*-9(3J6,TIGBO,#RSD3(XQ97[_:F;
MHFQA15>5I!T@$Z4G(G@)R/A&M_!IIQ.97US&-QBFKMF+F=<AIMQR,1NE2<4;
MQ68?!7*^8VS]6;MFQ8@J/B4!H91M4.A]7K>2+^S2VY5]8;33.4H--IT^=J?Q
M*D<Y_>D8L^U!MIRKN5-:'G'*I#H^8)GY5#$`3_9%FR9ZO'"#&E\3^-SWY=>1
M+PM-ZI&W/%89QU>>5204F@;8ZC).2M:)>12+UH?HJ0JYQ(/01KTU7471[>]R
MH4W+Y9MJB6D*'JO-M$@Y'2M84!RPBUUW4_:%NJU4*U//*2HI):0MP`C@2D2G
MV0TMT^L-PGO:U+RL=:XLIX^E+LLZ[("`DLJ8:R%CVV7DS(0$DV81XW/,PZ<6
MP6=N5"ID,NJF3>(!6HZN=%T;WHBLIJE"*=QI%2R2E#[+BM,S]D*F<)\\HH*W
MJAM*LHJBE:-2VY\L[)2FG$`8`2U$2G.46+T7KXMC&_I/8FOW(-QL;8M.TTLL
MSESW+//`;Q\5&1F0+E.Z>OWJOB`5)(A*#3><PT`H#T#5?U=H*NLZJUMLHJ=/
MS"UH0VTD>;7I&0[<_&<4G2:IHT]-F+S5U"A3("E+4I4L,,#/Z8QF_P#]M^#+
MLRBMN/<[7K$>,<C:X[)X]Y0G[;D2D'9X\9*HP*:;]DK03)JD`"G+U`::H_\`
M@GOPH#CPHTJ)'D55,)4)Y325`COE%<.K^RTN*;9%6I"9S6EAQ23+,A4I'#E.
M'1P]ZL/"K,V08+%,'?\`<MEY%NISY.U+7RYCV\<8.[G=CM'RD`M=,8T923XP
M#\")%=QS=*5U0WSI1O:PTRJJY4[2V4IF2TZT](#B?34K`<3%VM74S9]Z(32N
MNIU&0]1"VYD\)K`Q,2.^.%-U>FZGS$I\_A[:[OFW]*=E>FM5ZTRG,?%I[YQG
M?JL<C*4^Z.+W^9+?NS<R<!L#''RK+CXHY0)UH15W?\X"RA>X3"+0M?R:[^_2
MA3L'9EX>,O5+^/<@RCB3]3#[R=W6QH3]/0/ZPB1#^7',T_@-R*!$`\R7+]M)
M+FZ?O$@LAL+<X]1'YM_VAK5WZLW'%;WI4D'1^7G^LL_LC;_Z?4-IVU4N?:^9
M1_V1&T64I0\+S=^NN#'!.-O6R"[C%Z),RQ<2B)NH@&P2.3]?;JZ[8I3<.A::
M1&:F%CQ4J,.W2Z*+K"JH.'[U/]5,3+`("`"'4!`!`:UJ`A4!K[PUR/H]/R<L
M/".K$K#B0X,E"?C`/97V`(A^4->J)2TM0S"3]1B,`*4$G*8^N(#/5"LRVL@^
MH]Z0UIWE$1]P6S(9&RPXDX.41(ZCY$8EA;,PQ3>ME1\!RU^HL$C&2.4Q5/#`
M!`0Z:WMTRKZRV;!W75T"BBH-$R"H9@%Q()[@3XQHGJ#1TU=O[;=/62](5"R`
M>)2EPCV3(`PB>U`J#5%-%JDDBW3V(HHHIID21(0I2E(D@F!`*F0``I2$Z%`-
M:!+A<5ZCCLE?3MC>13C_``H@P]0&*CK2]4OTF+YMEBUA[OO&]\M6'=,M'I)M
MY"X+34MZ/4^F31VX)F?LT//+J%\??0WRTH.NANG0=NG2+=M+5+U4E.FG<"#,
MIGI?R!P&*9REG&C>H*TT'4?;%4P@(JJEQUHJ&8"5,YRQ."_")!<@X\P)GS+D
MK:+EW<L'F.P[?9/'\Y:ZDC;[]M"OS(G;(&ERI"PE"D%<NT`W&3`PA76%VB_[
MNV?MI%:AIE[;E6Z0&'AK:4I/-&4Q*8GQ`C+;Y8MJ[MOU11>JXUN"E91-]LE+
MB05&8"@0?,)A6(P,6T_"9INJAGW/#9+H!4BWB!P(/?011#M[]3T=4'74S>LE
MEG_<)_LQ:3TR:9_AWFZ]SBS_`.I&(7UQ@NO&]EW/>MA<B<Q)7#;$-)SK9.=F
MTY",?%C6YG:K-XV4H0Y7!$]I3"4P=W?75SLN_K)?KQ2V6[62WB@=<T'T6TI4
M%$@:AY<9$\)=D6N^[(N=CLU3?J.\URW&6IA+BE'`#+%9A<A7_*90]/Z;OB;(
MD28G;+;'E103*BDM(-)YNQ<.B)DJ"8.CMQ/M`:`(TU%MRST^W^M=):J82:;K
M,!.<DE(('=.45%XO+VXND2ZVIQJ@VB9/$A7T\8QSF3Q!#F)PEM^S8!X$#EVS
M+7M#)F";Q0,"$A:N5K1B6<C;JS9Z%%FS:74;^3<`4Q2B14##\@4MVW-X)V7U
M'?J7)_(OUC[+PYM.:T.$^Q"B>W$<8O%YV[_-6PZ-")_/4[`<:_O$)U(_ZP$6
MWB!ZA-I98X*3/)C,"OX2NG`L-=%N<DX14J*3NV\AXO;"RN5$J2GA&*-SJH)K
MLRF`H&.Z!(H5+J3O+I]6VS>XV_8YN45R4AVB4!@&GAKE,YZ`2%'LGQBJV;OJ
MDN&RG+O>2E%;0)4W5I.96V=()'XB`0.>$-#Z4.*KORFZRCZE&=&`I9>Y?O\`
MS>-H=R!U%<8\<XET=&PK2C_,!5F,V@V3>N1*4OCI^&(A0PAJ]=5KK1V<T?32
MSK"K=:6SZA$P%U*@GUE=H\H/^4>R+9TPH:R\&HZ@7=)175SG[L',,`DMCP)[
MH9+TU7[Z*5]:>5BUCMY.-Y39D?Q[A(=JB#UG9,\Y:*IC_73<)%$*]X:O._V&
MGJW8M*\`JF?H*=*@<M)?D?<8Q[9#SB6]X5K9(?14.J2>,TL@CWB'T]!VVK?B
M?3<PS=+"*CT+EOV3R9=5[3)6Z(2]P3_\0KBC_.RCT*/'8I-F1$R[S&*!2]*`
M(:Q[]0E94#?U51:E.4U/34R&D$DI"2VT3(8C$DS,L3%[Z(4=,=@,UY2$5=16
MOJ<7QU!QT"9[`!+LB2?DG9]I9`P#F.U[SA8FY+<E,77V1]'RK-H[:B5*VI-5
M)<I7!#IHK(+D*HDJ40,DH4#`-0KK65AKZVS;CHZRVO*IZP53(\LP0)Y<.&'*
M-A;BH*2OL512UJ$N4YI'53.1,@9^TY_0QSQ\<<I8<Q%_+S0,_G?'4KF#',N[
MNZS7V,8>;6MUW><E/YDEV,+#KW$Q5*ZBF2DDW(HX73$Q@(0PT&M-=%7FR7C<
M?ZC%TUDJ2Q7I47/F0C6IL);"EK$U)DJ6`QQXF-&V.[VFQ=$6JJ\TZ7*,K#8:
M*R@.$J`2)A)GX1O+BW('JW0.-[)A<;<&>'>/L?1]I0+6SK.F>15RA,6];I(U
MN6'820QML*H`^;,1(5;XS'%3=4PFJ.L*NUGZ25%SK'KY?KNY>/76EQ:*-)"U
MA6/F+V1/'ED"(S&S/]2:>W,M6>U6MNU!H*::54*F$GS`2#&9GQPF8CS]6#(W
M,^6P/B)/E9Q5Q=C*1C.46$I''6:<,Y10O]K!SJ-P&%6$EVTK$0]UV[]:;&,9
M)9`ZS9=1$"*[3"6N?]&J#9M+>;BG;EWK*IU5M="J=U!0,TR^V09<M/'A&O.J
M%=O%RW4(OMKI:9K\P:.IM041@K\`E[N^.J/QU>SQS5\AYOYBTW]OB?+2NSN^
M6O?77*'RF$O33_%G[YRRCJ;UV<YF4OH/&.1[^9AL%XUR[Q/RL5`_T^9LB_<?
MKN"$\0HR%NR[*Y6S4P``"!E64ZL<*CU!+W:[;_2?6+=MM\M2%#U9LK2.Q270
MK#_HB7?'(GZF*%INOLMS4DZ%.J0L\@%(E+#`XGW1G_\`+E9*;,;KY'8C=+HH
M.+CM^R<B0K<YOC55MUU)6],^$EN^9)"8:G4Z5IWZI_U96D+>M]]:222"RX>`
M202/9C.+[^G:N0M-9:GU`'U`M`&!(2$G'F<(D[YB6D[C,X*7`4ITFMTV_"/F
M:O0HE>L"&C'8^*`4(+99%(WNKJP](KI^9;)>VX"-;"R`)8Z"9F>.?FSBCZM6
MY=MWFB]R5Z3I$CPU``>&$20X5OTF0L=VY."<GGT6J43.(@`[V\O')@V<$,7<
M80!R)"JE$1^0P>W7.6\[5^07RHI&TJ]#UE>F3C-!4=/+AF8Z`V?=OSJT-.33
MZB&DA<OO`"?'G#MFJ%*=>H?FKUUC;1<$TO%(F/'WQD\T+0H@R`$^\91SO>K_
M`&%.Y1YV^E785K7W,XPNRX+KS3^$\A6^W;.I6SKFBHFV)>"FT6;P!:R"+639
M)`NW5^!=LHH3]KIT#TBNC%IVANNKK&144PIJ<*;X*;4\A*QB"-125:200#(D
M&4HT!U0MMPN6_-OTE"KTTIUJ"Y$Z7).:2J6:-6DJ`D2)B8G&UZ&+_6M8$!FC
MRIX032#0G@)RTQ@7(#&6D=@%`SN19Q5P?3T'2Y?B4!'X-PC0`#6-N73HJMSU
M/R:^?[ZU^VF)\.Z,O_+^K?"YV@'_`.*K_P"Q]<?3#G`7/T]RBLGE[S>Y$VSF
MO(.(H69A<,8_QCC\]@XNL!6XFBS27N$$9)Y)3,K.KMG!R)G.)=@@4PG^&FI%
M^WY94[7JMG;)H*B@MU:I"WG'G`Z\LHU:0'$I0-/F(((.$1VW95XJ-PT^Z=W5
MC%574B5):2TDH92#IF="EK.N8G,*QY1MQDOCK=,GDLF8\/Y%''M^N(=O!S9)
M"*2F8*X6#8:M@D&PA4IT4@I4I3`82EH("%=4VW=^6NFVY_*>[[>NOM/J:TEM
M6AQ"OPK(6`,,9"<B1QA?=C7)^_JW3MBL32W):-*IC4V1CFD*229'#S881:?P
M+S:IM_C+B(:"(U"P'?>(C40$!H(U]HZF*N_1T_\`X5V[JM/[68@;M?5=&5UH
M#[65?XT8_<6#.4^0XMY:M^YZM"/M:83*SF6]FV,#23?L3FHY:"Y<*)&(1=,1
M*-!IUU7V[>73;;E:U=MMV.L_,F<4_,OI=;"N>D-(/OBDJ-H]0+[3O6[<5SIU
M6QW!090IM13V$N+$^Z'<OG`K:1XZO<#6=)-H1D-OLK>CI"314=$2\HX;N3NG
M9&H(G,NY,@<QZ``;C:QBW;T<;WPG>=Q;)J2Z5R$@.,@`>`$AB<A&0UNRT-[/
M&U+8H^@E,B29J,I8S`Y]D/7:L(O;UK6S;BS@BZT#`Q,2=V@42IK+1[-%L9=,
MIA&A5!2W%`1Z=^L,N-:BX7=^M`(0MY:TGM7//G*<93;+<Y06>GIE$>NRD`\I
M#/W1";R2]':3S1R,OR\[&S<&,^-7(>[,;7KRLP$TA'CDF4+HQY**O%7D5*-G
M9&D2G=*>P'Y!)110QSC7X0+NS;'6)JR[?IZ.XT'S6X+<VXBDJ#*2`Y.84"-1
M`$@)$22!&J-Q](:B\W]VY6^K%/9JQ25U#(^V4@8B1`$R)F8,R8G$B(J.@(Z+
MA8=BA&Q4,R9Q47&M$R)-(V,CT$VS)@U23*0B3=HV3*F0H```4H!K1[RJBIJ3
M5/J*ZAU2E+)Q)UF<SVSGC&Y::E:8I_EV`$4[:4I0D8`:!(=T:`\,N%TYQENG
MF5-73=]OWS%<I<\SV6F<2PAWS`+?@[@9.6:MN3!GCE=.27,@X$#*I;4S`(@`
M:S?>6]DWYJS4E.A3=3:Z5+*""`3I5KU$B>,YRP!RPC!-J;1?LKMR<J5)+5P=
M*U3$Q,@)D!APEQ/MC5W'_I_\Y>(A[DLW@ORRQ+#\?9>Z9J[K;P_R%Q-(7:;'
M#NXW1WTE$6I=EMRD=)*0A7)Q%)-9(H``]2[JF'-;GO\`V/NG1<-]VJM7=D,(
M;4Y1/H9"TM@)25!;;LU2`SG+&48U;MD[LVNV[0;1N-*FVKJ%.A%2T7=*EDDR
MTN-@)F3ECS,9?.\7?5$S?`S>-^0/,C`EHXLN:(D(B\$N/&&KA@\@7+"2;9=L
MX@$+LNV<=(VXR?$5,DLX9HF<^$)@()1&NK72[JZ6V1QN^6*T7%RXH=!2*NH;
M>:DG+4A#*"5<23(3RE%QJMM]0;Q2JMMYN5"F@6V0KT&%(7YI3`)>4`,,,/;.
M+-!^E(HX]+QGZ=]Z979#+PLG(W!`Y2MF#>>2AKF:WZ\OBU7@PLF^%R[:,#NB
MMG29EBF6*!A`P`.HCU9?I^IB]^,V]*UNH(6T9E&E:2A02!C.0FF9,N,XAINF
MZ7-D?R<Y6DM-K2I"P/."DA0F9RE/.0'9%SMG#?K4VQ!15MM^6/"JY&L(R:Q;
M2=N/!E^$FY)HP2(U;.9((N;;,1>J()%%0Q"[3'J/>(ZGU%^Z)5ZUU*[%>6ZU
MQ:EKT5;:4:E$DE*33DB1/E$S*0&(B536OJW2@TS5SMIID`!*ETZU+`2!+$/)
M!F!C,<X:#D'Z=WJ-<P[0@K6Y&<R<%HPMHY$LB_H2Q<6X5EX"UYA]:\J1\LZN
MF;D9EU<;MXG'^(FR2;^&V364\10#"4`"[[9ZC;#V8NHJMJ6BN3<:AA31<J7T
M.D)403(!IO$D8D<A@>%NN^Q]X;O]*GW5<:3Y9IY+@]!HMG4F8$R7%@C'+WB)
MT_*./:E_X_Z?7PQ^:O;_`)G^73IM[??K1?K'_-G^-S'P\\L^V-M?)5,O_=-_
MPY3T_:G\7QY<)>^(E/6]XSNN1'"&YIBW(Y60OG`\TSR_;J#5$5WKN*BD%XZ]
M(UL0!W#YFV'JRQ@#J/E>@"-`UN3H)NX[4ZA,!]6F@K$%E1F):C\!4)SE.8!X
M3C775_:J=U;2=0TG76TG[U(RPD293]@\(Y4_3OY"J\8^3.*LQBH=2W(Z0_#M
M[$)U*YL:Z4D8J=KMKN(P;J$>("(#55K[1UVOU>VU_-&QZBWM@*KU4X<1(@^9
M"BL2,].(2./&4<Q]+;TNS[G35`E+*5:%`S'Q>54QGD<X[@^0EAL\P8YC+GM9
M=M*NH5`EU6X]8"5PG-0DDV(Y5*S4+\*Z3UBHFLC01#<'9U#7`O3K<%1M;<2F
M*V;0<*FW$G[)!D)@=H`CK+J%MQO<=H9J61K0VD*2>>'CQG&K.`\B2&-YDQ5B
M+*VW*E21F6-#%.FHD())2;(#!N\PT&J:@#VD+3MUM3?FVV+];!7M2-<@33*4
ME"7'AC&KMDWY^Q795`]--*I9"YSP,\?`SQ$2?QLFPF6#:3B7*;QH^1*L@HB<
M#@H3:!0&GS%/0/B`:"`]NN::YIRG)9JFR*@!0`[>6&&/..AT*;?84NB4%(4$
MR.7MSE#=WGA+%60+\QUDR\[!MZY;]Q([D'N-;LDV1'$Q93V7;E;2CF"=;BF:
MK/$4BD4$0-4.FI]%?+Y1VRJMU$LMTU4$!Q&$EI"DF1GB)2U8$3(XY125-LI*
MFX,U]0D%UE/E/$''*7MAUO[WZ/U:I?E_QJ^G=%S]9KD/`P@A7\O=NZTZ4Z>S
MMUXE+K;LM4V)9<8`,N'6H3'+(0@!0.P*@`!T`.SV=>X->.>J7`$*`9Y<8\4V
MV3-KR'Q'A"]??^@->:5??5[OZ(A]-S[X\#!M#MIU'M_4/MUX42$R5*/+`1YZ
M3:OB"@KG//ME"4]I0&O4:T$!Z"'6M>NB0E0*5(*1AF9_4>$>^F6@5-*)5R@I
M]GYJ=O93V:F*6I*PVA(]+3GV\,(\](J4'5+.OB(\B!Q,4>P.NX*AU]G7NZ:C
M!,TX@"6(E$U+A2A22V2J>&(Q]\+U"H@6HCW`(!U[QKTKJ2I2TJ*VQ-1/NX1*
M2T5NA2U%*`D>/&&MR]>DM95L,'=O,V#F=GKNM>SXHTJ#@\8S>71+)1P2+U)H
M)7#A%H43G\,IB[Q*!1$`'480PZH)J$D(.9&8(R]\>.BH6J3:@`#@3EWB+0NW
MS9`'BWR]TV1=3/ZS',IJ,7MY2SUBQ;UX1JX>QLR2X))$'[+>!DD%TCD="&SX
M3"&H'$('E;U%':1$Q04AO#2ISLF/KC';4N+*>349JX8&Y;5L^WVUV7/;T5&.
M[/7N.4<,[5F%(-Q(/GAIZ*235=.6IS^$1,2ID$`$PCJ'TFE->DH+`G/,9\XD
M@5(:G-/J3RY#EW1A[_,>28]I+VXHE:KF]H/,]D8P-,"QDF]NR4;>S)K(M9HD
M6,FL]9/6K5P)3HE7.3>7IT,(A%Z7I+]1E:L<P9<,N$5/J+0H^FE,I>^,CO2Y
MLXXTCIN:>.+8O:#:6;>DTM),;>=V\:VYNW&`/H5)ZC^()!.3BYA3>B<I?#63
MH!MU.FIKB@XF0FE7/#Z8QX2ZZDA10G#D3%8X=YS1LM6^2W78/BI6M^+1MD;*
MD/IZ@I11)A6&//\`XB*](8Z)1(5P"!C`/Q;!IUD+8:+(42M3PS$P)_3VQ`TE
M2&O.4J<]ABA_C^GX7B?AA>G_`*[_`,>:>9-N\+S?EOH%.SQ]_7Q_GV=>W46I
M'^;7\/WAX9Y\9Y1)UU4O@1]#[8V3>-&T@V<,7J"3EFZ04;.FRQ"J(NFRY3I.
M6KA,X&(JW<)'$AR"`@8HB'?J%UM].FII5$5*%`B1Y8Q5*9;>;*'`"VH$*]GT
MG'"KZB'!V2X7\C9AI"1RI\)9,?/[IQ-*@DJ=FQ0=+JN9NQ';D0,B62M=VJ8$
M43"`JL%4U"_*<`^CO1[J):]Y;39MUP7.]4H*70<U2$P<SY5<.V8CC7>^R']L
M[A=K*,2I'E@HEEG$U/I!<YVTK;4/Q9RQ,E2FH8AFV';@D5BE&=B#"HL%@.G*
MI@*:4AS',,>)A#QVQ@0#JF%>?^O/3"IME4O>5B;_`'+W\5(&"?QR[IGC.1YQ
MO7IQN@U=L%HNJIORDF?U1*1EG!1E'+B[+):HJ`]5,YE89$!$WF1KXSN-*7]V
M!5`#]X@%*&J(==8#LW?*J5M-OO*M3:4A(4>P2D?Z8F;JV>VY_K-M2`[,DRY\
M8P['=V7'9:IF[`PJ,RK4?QCP%BH^-40,82&`%&ZP#V&Z%-[.FK[?K59[Z@/T
MT@O'$9XRBR6.Z72VJ-.^3A(2,;7P62826(!'1E(UY0#&0="!MW7KX:J0'*8E
M.RH!0-:HN%AJ:99",4CB,(VG;;LR^W-WXI1G#>19.2`HDNBHF/89-9,_YR@-
M0U9C35(,B3/V17_-T\IQ4@LD8*E.6GO,7]>I2D+0=*_BB<VM+B=2,H^FH8C@
MTA!I"#2$&D(-(0:0C$KVLF`R!;SJVKC1<G8N';*00<,'2C&2C9*,=IOHV3C'
MJ7[QJ_8/$BJ)*``T,'8(=-(1@9L(Q+YQ%'N6^,E7DPAI5E-M8.Y;D;+PRTG&
MJ`O'N)!JPBX]1^#1R`*E(HH)!4`!$!II"/9\)Q#>1EG]MWGD:RTIR6>3DG$6
MM<J;2$5E9$WB/WK>.>Q[]-DJ\7_>*`D)2F4$34J(Z0BIC\)65'L6S033S]RE
M?$7D9Y,RDRN]FIB[(=,J+)]+/3E#S"":)"D\$I2)@4*``:0C(,HVW(7ACJ_[
M7B0;FE;DM*:A60O1\-KYF3CUFZ(*JD((D;@=3XQH(@`>W2$-M&8&0-;#&VI'
M(^530P0;"*?P;6[R_25$$6B31W&MG)X<LB6-4%,Y!*"V\R0TJ`:0AS_X<652
MGT%I3\&?P]VT-M_!F[?]!I7_`&F_XOZV[K72$9OKT$C*$\".!AAN2''/&?)_
M%T[BW)\21_"2@$<1KYOL1F+9GD"G+'7#`/=ICL9%BH<>H?`JD)DU`,0PAJ][
M:W-<MG7-%XM"BEQ!\R1\*TGXM0XR&(/`@$1:;O8J*_TORE6A*B,4D@$I(Q\I
MX3R/9'(WR"X=9AX97V2-NQ)S(6BM().+$RK!MWC6)FD6RI7#8IW"`>);%ULA
M2*)VRRE3'#<D8Q3!3N7:&_K%U(V^2'@JI"/WS#JM4^!D#FGME+AF(T=<+)<;
M!<]:4%+"3@M.!\8F$X:^I^*<9%8\Y*NUUE&X(Q\/E5)`QA71*!$FQ;W:M2&,
M#@A*%\\D4:T$5@K4XZ'Z@]'REXWG;3932JFLM2DE,\9(X`"<@G``2E*-A[=W
M>AXBFJA/(:CF>T\YQ,<E#X^R.P9W!%+Q$XQ?H`NUN"WWJ*Q7"9QJD8'[(?#4
M#8(#\?Q5$0'6CT7F[6=Y5,E2VI&2DK&!_P`F?'G+LC,'+3:ZT^NEMK4>(`BC
M+C-HU'<RD3=NT/'(050`1IM$2]1'NKWAJXIW&\XD^NGU#+,'"*0V#S395),\
MA%[9V@LV':=R40I03>"`=*AV#TZZH57MDC!'[(JORO'.,C;Q#=LF``HHJ("(
MB6@@%1I^R%0ITU:JFYI==EZ8G+.*^G8^7:]/MGXQ=C*$2*!C"`!T`*]@]WVC
MJ64S&O+LB='H#"<*[=H=W3H(>T-00A=(0:0@TA!I"#2$&D(-(0:0@TA`/7M]
M@A]@TJ'VTTA"U&E*C2H#^8*!^C2$)I"#2$%`'MZAH0#@<H]&$8O>%EVK?]OR
M-IWG`Q-SVS+H&;R<'.,&\C'/4Q[`5;N"F3`Q1ZE,`;RB`"40'KJ;1U59;*I-
M=:G5,52<B,N\"*6JI6:U);JDA3?*(?<S>DG"F?.Y_C_=X6\FJ<Z@6%=ZB[^(
M;_$)Q1A[B`'#]F@%:$2<D5`I0``-36]ML]=Z]#'Y?N@>NA("=:/+E@24F<^[
MPC$[EM-E(#EO4E!Y2R[XUYM'$',_C?)>)"0%^P;4ACG6<V2X-<UN/"@;JJXC
MHX[ADM4!K\:"9@`?;762UE^Z=[I82FJ#*E-DE.&E0U2GGGEP$6RE5=Z2:%:B
MD2QC<:QN9?(".`&5WV.VF3)`0BJKNV)Z`?"8M`JH*!!2`ZA0Z_N@ZC6FL"N.
MR]EU2BNEK"T<P)@B>8[OV1>V+Q6I(0IM1!,HV5MWD[D.X2)`TPZ_%14:$,B,
MT=N`B(!U.I'HI@%1[=VL8J=JVJFSN#:QV)E^V+U\Z]/^&?&'JAY/,ER^&>0A
MX.S&BX[#"N=5Y('*`5#P6XJF+40-WB76-U(MM&]Z3,WI">H&0GRE+ASBM8<6
MXWJ6)*G#H1L-Y.BKYZYE7I@$%73D0(4.E`!!L2B*(>V@5IJWNO!8*4C2GE$Z
M+Y[`#L#L#V!JGA":0@TA!I"#2$&D(-(0:0@TA!I"#2$&D(-(0:0@TA!I"$+3
MXJ;OG+V[MU>M:[NNVOR?LT[-2U2X^G[Y^[WP^F.4>^NXW;V!\M-W9WTZTU"S
MF=,N&7?G/W2B4[+#^'D><XI5J=/]KV_]3NKVZK4:I_\`>=THI!IU#^#GVQ[1
MV[O]'L_T/$W=W;W;?OUY49XS[_\`DBX8?ABK+\PT\3L+\OY!^;=WZID?#AE]
M.<>#N[H^.HX]A0I[OMW?=I"$TA"A3W?;7[M(0#_2E?OZZ0A-(0:0A0_I6OW=
K=(0#3W?97[](0O3^S_BTA!T_L_X](0G?W?II^O2$`T]WV;OOTA":0C__V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
