<SEC-DOCUMENT>0001558370-17-000787.txt : 20170222
<SEC-HEADER>0001558370-17-000787.hdr.sgml : 20170222
<ACCEPTANCE-DATETIME>20170222164301
ACCESSION NUMBER:		0001558370-17-000787
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20170222
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170222
DATE AS OF CHANGE:		20170222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AxoGen, Inc.
		CENTRAL INDEX KEY:			0000805928
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				411301878
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36046
		FILM NUMBER:		17629022

	BUSINESS ADDRESS:	
		STREET 1:		13631 PROGRESS BLVD.
		STREET 2:		SUITE 400
		CITY:			ALACHUA
		STATE:			FL
		ZIP:			32615
		BUSINESS PHONE:		(386) 462-6817

	MAIL ADDRESS:	
		STREET 1:		13631 PROGRESS BLVD.
		STREET 2:		SUITE 400
		CITY:			ALACHUA
		STATE:			FL
		ZIP:			32615

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LECTEC CORP /MN/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>axgn_currentfolio8k2017022.htm
<DESCRIPTION>8-K
<TEXT>
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			axgn_Current Folio_8K_20170222
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:13.5pt;">UNITED STATES</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:13.5pt;">SECURITIES AND EXCHANGE COMMISSION </font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Washington, D.C. 20549 </font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:18pt;">Form 8-K</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:12pt;">Current Report</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:12pt;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Date of Report (Date of earliest event reported):&nbsp; February 22, 2017</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:18pt;">AXOGEN, INC.</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">(</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Exact name of registrant as specified in its charter)</font>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Minnesota</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">001-36046</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">(State or other jurisdiction of</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;<br /></font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">incorporation)</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;">(</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Commission File Number)</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">(IRS Employer</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Identification No.)</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">13631 Progress Boulevard, Suite 400,<br />Alachua, Florida</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">32615</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">(Address of Principal Executive Offices)</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">(Zip Code)</font></p>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Registrant&#x2019;s telephone number, including area code</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">(386) 462-6800</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;">(Former name or former address if changed since last report,)</font></p>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">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:</font>
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		<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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		<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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		<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font>
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		<p style="margin:0pt;border-bottom:3pt double #000000 ;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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			&nbsp;
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			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;"><font style="display:inline;"></font>
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		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;">Item 2.02&nbsp; Results of Operations and Financial Condition</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">On February 22, 2017, AxoGen, Inc. (&#x201C;AxoGen&#x201D;) issued a press release announcing its financial results for the quarter and year ended December 31, 2016.&nbsp;&nbsp; A copy of the press release is furnished as Exhibit&nbsp;99.1 to this Current Report.</font>
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		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The information furnished pursuant to Item 2.02 of this Current Report, including Exhibit&nbsp;99.1 hereto, shall not be considered &#x201C;filed&#x201D; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#x201C;Exchange Act&#x201D;), or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Exchange Act, unless the Company expressly sets forth in such future filing that such information is to be considered &#x201C;filed&#x201D; or incorporated by reference therein.</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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		<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Item 9.01. Financial Statements and Exhibits&nbsp; </font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 36pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">(d)<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;;font-size: 10pt;font-family:Arial,Helvetica,sans-serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font>Exhibits</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Exhibit&nbsp;No.</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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					<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:09.60%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">99.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:04.38%;background-color: #FFFFFF;padding:0pt 5.8pt 0pt 5.8pt;">
					<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:86.00%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">AxoGen, Inc. press release, dated February 22, 2017.</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"></font>
		</p>
		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt -18pt 0pt 0pt;text-align:center;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">SIGNATURE</font>
		</p>
		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:24.5pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
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					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:45.64%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">AXOGEN, INC.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.52%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.82%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.64%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.52%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Date: February 22, 2017</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.82%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">By:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.64%;border-bottom:1pt solid #000000 ;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">/s/ Gregory G. Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.52%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.82%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.64%;border-top:1pt solid #000000 ;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Gregory G. Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:50.52%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:03.82%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:45.64%;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">General Counsel &amp; Senior VP of Business Development</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;"></font>
		</p>
		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;text-indent:24.5pt;text-align:center;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">EXHIBIT INDEX</font>
		</p>
		<p style="margin:0pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
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					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Exhibit&nbsp;No.</font></p>
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					<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:8pt;">&nbsp;</font></p>
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				<td valign="bottom" style="border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:87.82%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Description</font></p>
				</td>
			</tr>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:09.60%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">99.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:02.58%;background-color: #FFFFFF;padding:0pt 5.8pt 0pt 5.8pt;">
					<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font></p>
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				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:87.82%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">AxoGen, Inc. press release, dated February 22, 2017.</font></p>
				</td>
			</tr>
		</table></div>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>axgn_currentfolioex991201.htm
<DESCRIPTION>EX-99.1
<TEXT>
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		<title>
			axgn_Current Folio_Ex99_1_20170222
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	<body><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt;text-align:right;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Exhibit 99.1</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;"><img src="axgncurrentfolioex991201001.jpg" style="width: 2.146309in; height: 0.6829156in" alt="axogen-inc-logo.jpg"></font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-weight:bold;font-family:Calibri;font-size: 14pt;">
			<font style="display:inline;">AxoGen, Inc. Reports</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 14pt;">
			<font style="display:inline;font-weight:bold;font-size:14pt;">2016 Fourth Quarter and Full Year Financial Results</font>
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		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;font-style:italic;">Record Q4 Revenue of $11.4 million, representing 46% growth over prior year</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;font-style:italic;">Record Full year 2016 Revenue of $41.1 million, representing 50% growth over prior year</font>
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		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
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			<font style="display:inline;font-weight:bold;">ALACHUA, FL &#x2013; February 22, 2017 &#x2013; </font><font style="display:inline;">AxoGen, Inc. (NASDAQ: AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today reported financial results and business highlights for the fourth quarter and full year ended December 31, 2016.</font>
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			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Fourth Quarter 2016 Financial Results and Recent Business Highlights</font>
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			<font style="display:inline;">&nbsp;</font>
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				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
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		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Revenue</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$11.4</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">up</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">46%</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">compared</font><font style="display:inline;">&nbsp;to&nbsp;</font><font style="display:inline;color:#000000;">$7.8</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">fourth</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2015</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Gross</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">margin</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">84.0%</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">compared</font><font style="display:inline;">&nbsp;to </font><font style="display:inline;color:#000000;">81.9%</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">fourth</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2015</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">EBITDA</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">loss</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$2.6</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">compared</font><font style="display:inline;"> to&nbsp;</font><font style="display:inline;color:#000000;">EBITDA</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">loss</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$2.6</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Q4</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2015</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Appointed</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">renowned</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">nerve</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">surgeon</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Ivan</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Ducic</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">M.D.,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Ph.D.</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">as</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Medical</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Director</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Launched Avive&#x2122; Soft Tissue Membrane in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">November</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Raised</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$18.6</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">net</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">proceeds</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">through</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">a</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">public</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">offering</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">common</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">stock</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">on</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">October</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">13</font><font style="display:inline;font-size:7pt;">th</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Refinanced</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$25.0</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">debt</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">facility</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">on</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">October</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">25</font><font style="display:inline;font-size:7pt;">th</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">which</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">will</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">reduce</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">annual</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">interest</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">costs</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">by</font><font style="display:inline;"> at </font><font style="display:inline;color:#000000;">least</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$1.5 million</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Adjusted</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">net</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">loss</font><font style="display:inline;">&nbsp;for&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">fourth</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2016</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">was</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$3.2</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">or</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$0.10</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">per</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">share,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">compared</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">with</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">a</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">net loss of $3.6 million, or $0.12 per share, in the fourth quarter of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2015</font></p></td></tr></table></div>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">"We are pleased to complete another successful quarter, with record revenues of $11.4 million and growth of 46 percent,&#x201D; stated Karen Zaderej, President and Chief Executive Officer. &#x201C;We also made several important strategic advancements in the quarter, including the launch of Avive&#x2122; Soft Tissue Membrane, continued expansion of our sales team, the launch of new market development activities in breast reconstruction neurotization and the repair of lower limb iatrogenic nerve injuries, as well as our continued efforts in surgeon education. We believe these efforts, combined with our recent equity raise and debt refinancing, demonstrate our ability to successfully execute our strategy and have positioned us to continue to drive awareness and growth in the emerging peripheral nerve repair market in 2017.&#x201D;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Additional Fourth Quarter Operational Highlights</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Increased</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">active</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">accounts</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">fourth</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">to</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">452,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">up</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">41%</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">from</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">320</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">a</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">year</font><font style="display:inline;"> ago</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Ended</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">with</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">51</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">direct</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">sales</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">representatives</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">and</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">20</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">independent</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">distributors</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Conducted</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">four</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">national</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">education</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">courses</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">fourth</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Increased</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">number</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">peer</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">reviewed</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">clinical</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">publications</font><font style="display:inline;"> for&nbsp;</font><font style="display:inline;color:#000000;">our</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">surgical</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">portfolio</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">by</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">five</font><font style="display:inline;">&nbsp;to&nbsp;</font><font style="display:inline;color:#000000;">a</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">total</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">44</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Conducted</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">a</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">breast</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">reconstruction</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">neurotization</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">meeting</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">with</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">eight</font><font style="display:inline;">&nbsp;key&nbsp;</font><font style="display:inline;color:#000000;">opinion</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">leading</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">surgeons</font><font style="display:inline;">&nbsp;to&nbsp;</font><font style="display:inline;color:#000000;">review&nbsp;mastectomy patient challenges and concerns as well as surgical techniques that may allow </font></p></td></tr></table></div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;;"><font style="display:inline;color:#000000;">for the return of breast sensation for women who choose autologous reconstruction following a mastectomy</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Reported positive clinical data from our </font><font style="display:inline;">MATCH </font><font style="display:inline;color:#000000;">study, a subset of the </font><font style="display:inline;background-color:white;">RANGER&#xAE; registry</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;finding&nbsp;Avance&#xAE; Nerve </font><font style="display:inline;background-color:white;">Graft, with a meaningful recovery rate of 85%, provided a statistically significant difference with regard to return of meaningful sensory function as compared to manufactured conduits, which only provided a meaningful recovery rate of 51%</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;background-color:white;">Expanded the clinical data set in </font><font style="display:inline;">Oral and Maxillofacial Surgery </font><font style="display:inline;background-color:white;"> to include nerve reconstruction following the removal of benign facial tumors, with two separate investigator initiated studies finding promising results </font><font style="display:inline;">for large gap defects of up to 70 mm</font><font style="display:inline;background-color:white;"> and results that are consistent with our previously reported RANGER&#xAE; registry</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Ended</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">with</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$30</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">cash</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">compared</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">to</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$16</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;"> at&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">end</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Q3.</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">The</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$14</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;net </font><font style="display:inline;color:#000000;">increase in cash was the result of the </font><font style="display:inline;">company&#x2019;s </font><font style="display:inline;color:#000000;">$18.6 million equity raise in </font><font style="display:inline;">October, </font><font style="display:inline;color:#000000;">partially offset by debt refinancing</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">fees</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">paid</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$2.9</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">and</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">net</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">operating</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">use</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">cash</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Q4</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$1.7</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Ended</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">quarter</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">with</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$25</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">total</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">bank</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">debt,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">compared</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">to</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$25</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;"> at&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">end</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Q3</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Full Year 2016 Summary Financial Results and Recent Business Highlights</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">2016</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Revenue</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$41.1</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">an</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">increase</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">50%</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">compared</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">to</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">$27.3</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">million</font><font style="display:inline;"> for&nbsp;the </font><font style="display:inline;color:#000000;">prior</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">year</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Gross margin of 84.3% compared </font><font style="display:inline;">to </font><font style="display:inline;color:#000000;">82.3% in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2015</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Improved EBITDA loss </font><font style="display:inline;">to </font><font style="display:inline;color:#000000;">$7.7 million compared </font><font style="display:inline;">to </font><font style="display:inline;color:#000000;">EBITDA loss of $9.0 million in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2015</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Completed</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">13</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">national</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">education</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">courses</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2016</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">and</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">expect</font><font style="display:inline;">&nbsp;to&nbsp;</font><font style="display:inline;color:#000000;">conduct</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">15</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">courses</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">2017</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Launched </font><font style="display:inline;">two&nbsp;</font><font style="display:inline;color:#000000;">new products including Avive&#x2122; Soft Tissue Membrane and </font><font style="display:inline;">AcroVal&#x2122; </font><font style="display:inline;color:#000000;">Neurosensory &amp; Motor </font><font style="display:inline;">Testing&nbsp;System</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Appointed</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">former</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Covidien</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">senior</font><font style="display:inline;">&nbsp;executive Amy&nbsp;</font><font style="display:inline;color:#000000;">Wendell</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">to</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">the</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Board</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Directors</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Expanded leadership team with the appointment of </font><font style="display:inline;">Peter </font><font style="display:inline;color:#000000;">Mariani as Chief Financial </font><font style="display:inline;">Officer, </font><font style="display:inline;color:#000000;">Kevin Leach as Vice</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">President</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">of</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Marketing,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">and</font><font style="display:inline;">&nbsp;Dr.&nbsp;</font><font style="display:inline;color:#000000;">Ivaca &#x201C;Ivan&#x201D;</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Ducic</font><font style="display:inline;">&nbsp;MD, PhD </font><font style="display:inline;color:#000000;">as</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Medical</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Director</font></p></td></tr></table></div>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&#x201C;We strengthened our strategic capabilities during 2016, which resulted in improved clinical and commercial execution,&#x201D; continued Zaderej. &#x201C;We believe our record revenue of $41.1 million and 50 percent growth demonstrate our ability to continue to lead this developing nerve repair market.&#x201D;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">2017 Financial Guidance</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Management reiterates 2017 annual revenue will grow at least 40% over 2016 revenue and gross margins will remain above 80%.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Upcoming Investor Events</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Members of the AxoGen senior management team will participate at the following upcoming conferences:</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">BTIG</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Annual</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Medical</font><font style="display:inline;">&nbsp;Technology,&nbsp;</font><font style="display:inline;color:#000000;">Diagnostics,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">and</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Healthcare</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">IT</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Conference</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Snowbird,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Utah,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">March</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">1-2</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">29</font><font style="display:inline;font-size:7pt;">th&nbsp;</font><font style="display:inline;color:#000000;">Annual</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">ROTH</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Conference</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Dana</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Point,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">CA</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">on</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">March</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">13</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Canaccord</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Genuity</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Musculoskeletal</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Conference</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">in</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">San</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">Diego,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">CA</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">on</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">March</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">14</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:11pt;border-top:1pt none #D9D9D9;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;color:#000000;">Oppenheimer 27</font><font style="display:inline;font-size:7pt;">th </font><font style="display:inline;color:#000000;">Annual Healthcare Conference in New </font><font style="display:inline;">York City, NY, </font><font style="display:inline;color:#000000;">March</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">21</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Calibri;font-size: 11pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Management&#x2019;s Assessment of Internal Controls</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">The Company&#x2019;s market capitalization has increased to a level such that its annual assessment of the effectiveness of its internal controls over financial reporting must now be audited, and the result of that audit will be included in its Form 10-K as of December 31, 2016 in compliance with the provisions of Sarbanes Oxley section 404. The Company expects to report material weaknesses in its internal control as of December 31, 2016 related to the design and operation of key controls around the calculations of significant judgment and estimates, as well as quarterly cycle count procedures associated with consigned inventories.</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Management&#x2019;s assessment has not resulted in any changes of prior period financial results or statements.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">The Company has reviewed and modified the design of internal controls over financial reporting and will continue to make additional modifications as necessary. The material weaknesses will not be considered remediated until the applicable remedial controls operate for a sufficient period of time and management has concluded, through testing, that these controls are operating effectively.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Conference Call</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">The Company will host a conference call and webcast for the investment community today at 4:30 p.m. ET. Investors interested in participating by phone are invited to call toll free at 1-877-407-0993 or use the direct dial-in number 1- 201-689-8795. Those interested in listening to the conference call live via the Internet can do so by visiting the Investors page of the Company&#x2019;s website at www.axogeninc.com</font><font style="display:inline;color:#0000FF;text-decoration:underline;">&nbsp;</font><font style="display:inline;">and clicking on the webcast link on the Investors home page.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Following the conference call, a replay will be available on the Company&#x2019;s website at www.axogeninc.com under Investors.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">About AxoGen, Inc.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">AxoGen (AXGN) is a global leader in innovative surgical solutions for peripheral nerve injuries. AxoGen's portfolio of products includes Avance</font><font style="display:inline;font-size:7pt;">&#xAE; &nbsp;</font><font style="display:inline;">Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site, AxoGuard</font><font style="display:inline;font-size:7pt;">&#xAE; &nbsp;</font><font style="display:inline;">Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves, AxoGuard</font><font style="display:inline;font-size:7pt;">&#xAE; &nbsp;</font><font style="display:inline;">Nerve Protector, a porcine submucosa ECM product used to wrap and protect injured peripheral nerves and reinforce the nerve reconstruction while preventing soft tissue attachments, and Avive</font><font style="display:inline;font-size:7pt;">&#x2122; &nbsp;</font><font style="display:inline;">Soft Tissue Membrane, a minimally processed human umbilical cord membrane that may be used as a resorbable soft tissue covering to separate tissue layers and modulate inflammation in the surgical bed. Along with these core surgical products, AxoGen also offers AxoTouch</font><font style="display:inline;font-size:7pt;">&#x2122; &nbsp;</font><font style="display:inline;">Two-Point Discriminator and AcroVal</font><font style="display:inline;font-size:7pt;">&#x2122; &nbsp;</font><font style="display:inline;">Neurosensory &amp; Motor Testing System. These evaluation and measurement tools assist health care professionals in detecting changes in sensation, assessing return of sensory, grip, and pinch function, evaluating effective treatment interventions, and providing feedback to patients on nerve function. The AxoGen portfolio of products is available in the United States, Canada, the United Kingdom, and several other European and international countries.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Cautionary Statements Concerning Forward-Looking Statements</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">This Press Release contains "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or predictions of future conditions, events, or results based on various assumptions and management's estimates of trends </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;"><font style="display:inline;">and economic factors in the markets in which we are active, as well as our business plans. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "continue," "may," "should," "will," and variations of such words and similar expressions are intended to identify such forward-looking statements. The forward-looking statements may include, without limitation, statements regarding our assessment on our internal control over financial reporting, statements regarding our growth, our 2017 guidance, product development, product potential, financial performance, sales growth, product adoption, market awareness of our products, data validation, and our visibility at and sponsorship of conferences and educational events. The forward-looking statements are subject to risks and uncertainties, which may cause results to differ materially from those set forth in the statements. These risks include, but are not limited to, the potential that we or our independent auditors may identify additional control&nbsp;deficiencies in our internal control over financial reporting, including deficiencies that constitute material weaknesses within the meaning of the accounting requirements. Forward-looking statements in this release should be evaluated together with the many uncertainties that affect AxoGen's business and its market, particularly those discussed in the risk factors and cautionary statements in AxoGen's filings with the Securities and Exchange Commission. Forward- looking statements are not guarantees of future performance and actual results may differ materially from those projected. The forward-looking statements are representative only as of the date they are made and, except as required by law, AxoGen assumes no responsibility to update any forward-looking statements whether as a result of new information, future events, or otherwise.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Contacts:</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-weight:bold;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">AxoGen, Inc.</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Peter J. Mariani, Chief Financial Officer </font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">InvestorRelations@AxoGenInc.com</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">The Trout Group &#x2013; Investor Relations </font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">Brian Korb</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">646.378.2923</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">bkorb@troutgroup.com&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Calibri;font-size: 11pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">AXOGEN, INC.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">CONDENSED CONSOLIDATED BALANCE SHEETS</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:71.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2016</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Assets</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:12.76%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Current assets:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Cash and cash equivalents</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,014,405&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,909,500&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Accounts receivable, net</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,052,203&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,782,989&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Inventory</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,458,840&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,933,960&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Prepaid expenses and other</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>511,804&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>424,925&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Total current assets</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,037,252&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,051,374&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Property and equipment, net</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,494,247&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>970,870&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Intangible assets</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>828,979&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>678,082&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,360,478&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,700,326&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Liabilities and Shareholders&#x2019; Equity</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Current liabilities:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Borrowings under revolving loan agreement</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,025,023&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Accounts payable and accrued expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,002,165&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,695,127&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Current maturities of long term obligations</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,899&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Deferred revenue, current</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,282&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,118&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Total current liabilities</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,081,369&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,709,245&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Note Payable - &nbsp;Revenue Interest Purchase Agreement, net</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,701,693&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Long Term Obligations, net of current maturities and deferred financing fees</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,265,745&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Deferred revenue</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>92,215&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>93,797&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Total liabilities</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,439,329&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>28,504,735&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Shareholders&#x2019; equity:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Common stock, $.01 par value; 50,000,000 shares authorized; 33,008,865 and 29,984,591 shares issued and outstanding</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>330,088&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>299,846&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Additional paid-in capital</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>132,474,884&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111,368,424&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Accumulated deficit</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(117,883,823)
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(103,472,679)
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Total shareholders&#x2019; equity</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,921,149&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,195,591&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:71.10%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,360,478&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.70%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,700,326&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Calibri;font-size: 11pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">AXOGEN, INC.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">CONDENSED CONSONLIDATED STATEMENTS OF OPERATIONS</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;">Three Months and Years ended December 31, 2016 and 2015</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:47.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="5" valign="bottom" style="width:23.30%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">Three Months Ended</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="5" valign="bottom" style="width:25.16%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">Years Ended</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.92%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December 31,</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.68%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December 31,</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December 31,</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December 31,</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.92%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2016</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.68%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 9pt;">
						<font style="display:inline;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2016</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Revenues</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,408,672&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,808,848&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>41,107,538&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,331,092&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Cost of goods sold</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,829,804&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,415,258&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,467,250&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,848,396&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Gross profit</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,578,868&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,393,590&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,640,288&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,482,696&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Costs and expenses:</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Sales and marketing</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,349,206&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,831,972&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>28,425,503&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,089,369&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Research and development</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,178,502&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>893,721&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,212,023&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,237,171&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">General and administrative</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,770,561&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,319,808&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,132,624&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,422,866&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Total costs and expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,298,269&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,045,501&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,770,150&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,749,406&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Loss from operations</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,719,401)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,651,911)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,129,862)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,266,710)
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Other income (expense):</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Interest expense</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,130,694)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(927,840)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,386,268)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,988,619)
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Interest expense&#x2014;deferred financing costs</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(780,135)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(31,537)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(875,389)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(127,912)
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Other income (expense)</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,246&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(205)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(19,625)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,816&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Total other income (expense)</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,907,583)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(959,582)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,281,282)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,089,715)
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Net loss</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,626,984)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,611,493)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,411,144)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,356,425)
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Weighted Average Common Shares outstanding &#x2013; basic and diluted</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,567,893&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,926,001&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,702,164&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,075,670&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Loss Per Common share - basic and diluted</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.17)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.12)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.47)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.51)
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Adjusted net loss</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,176,379)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,611,494)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,960,539)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,356,425)
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.68%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Adjusted net loss per Common share</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.84%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.10)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.12)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.39)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.66%;border-top:2pt double #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.51)
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Calibri;font-size: 11pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">AXOGEN,&nbsp;INC.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">RECONCILIATION&nbsp;OF GAAP&nbsp;FINANCIAL MEASURES&nbsp;TO&nbsp;NON-GAAP&nbsp;FINANCIAL MEASURES</font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">Three Months&nbsp;and Years&nbsp;ended December 31, 2016 and 2015</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;background-color: #FFFFFF;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:47.98%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="5" valign="bottom" style="width:23.04%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;Ended</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="5" valign="bottom" style="width:25.14%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">Years&nbsp;Ended</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2016</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2016</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 9pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:9pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Net loss</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,626,984)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,611,493)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,411,144)
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,356,425)
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Depreciation and amortization expense</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>98,484&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>61,102&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>361,617&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>203,140&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Amortization expense of intangible assets</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,821&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,819&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74,871&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,828&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Interest expense</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,130,694&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>927,840&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,386,268&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,988,619&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Interest expense - deferred financing costs</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>780,135&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,537&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>875,389&nbsp;
				</td>
				<td valign="bottom" style="width:01.72%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>127,912&nbsp;
				</td>
				<td valign="bottom" style="width:00.44%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.98%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">EBITDA &#x2013; non GAAP</font></p>
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,590,850)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,579,195)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,712,999)
				</td>
				<td valign="bottom" style="width:01.72%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,990,926)
				</td>
				<td valign="bottom" style="width:00.44%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Calibri;font-size: 11pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">AXOGEN, INC.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">RECONCILIATION OF NET LOSS TO ADJUSTED NET LOSS</font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">Three Months and Years ended December 31, 2016 and 2015</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.06%;background-color: #FFFFFF;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:47.30%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.48%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="5" valign="bottom" style="width:23.20%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">Three&nbsp;Months&nbsp;Ended</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="5" valign="bottom" style="width:25.30%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">Years&nbsp;Ended</font></p>
				</td>
				<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-top:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2016</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:10.66%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2016</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Net&nbsp;loss</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,626,984)
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,611,493)
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,411,144)
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,356,425)
				</td>
				<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Prepayment fees net of accrued interest</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,700,131&nbsp;
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font><font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,700,131&nbsp;
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font><font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.48%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Write off of deferred financing fees</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>750,474&nbsp;
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font><font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>750,474&nbsp;
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font><font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Adjusted Net Loss</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,176,379)
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,611,493)
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,960,539)
				</td>
				<td valign="bottom" style="width:01.86%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,356,425)
				</td>
				<td valign="bottom" style="width:00.48%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:47.30%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Adjusted net loss per Common share</font></p>
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.10)
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.60%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.12)
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.39)
				</td>
				<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.51)
				</td>
				<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Calibri;font-size: 11pt;"><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">AXOGEN, INC.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</font>
		</p>
		<p style="margin:0pt 0pt 0pt 4.9pt;text-align:center;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Calibri;font-weight:bold;">Years ended December 31, 2016 and 2015&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 1pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-family:Calibri;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2016&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:11.72%;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Cash flows from operating activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Net loss</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,411,144)
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,356,425)
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Adjustments to reconcile net loss to net cash used&nbsp;for operating activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Depreciation</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>361,617&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>203,140&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Amortization of intangible assets</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74,871&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,828&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Amortization of deferred financing costs</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>124,915&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>127,913&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Write off of deferred financing costs</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>750,474&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Provision for bad debts</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,593&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>125,371&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Stock-based compensation</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,390,277&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,316,509&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Interest added to note</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,924,279&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>461,643&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 21.6pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Change in assets and liabilities:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 28.8pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Accounts receivable</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,348,807)
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,036,052)
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 28.8pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Inventory</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,524,880)
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(720,340)
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 28.8pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Prepaid expenses and other</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(86,879)
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(315,556)
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 28.8pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Accounts payable and accrued expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,443,660&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,117,733&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 28.8pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Deferred Revenue</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,582&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,583)
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Net cash used for operating activities</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,204,442)
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,051,819)
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Cash flows from investing activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Purchase of property and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(963,787)
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(408,782)
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Acquisition of intangible assets</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(225,768)
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(146,736)
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Net cash used for investing activities</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,189,555)
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(555,518)
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Cash flows from financing activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Proceeds from issuance of common stock</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,668,092&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,968,386&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Borrowing on revolving loan</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,684,894&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Payments on revolving loan</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,684,894)
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Repayments of long term debt</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,446,676)
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Debt issuance costs</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(800,847)
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(180,139)
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Proceeds from exercise of stock options</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,078,333&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>512,799&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Net cash provided by financing activities</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,498,902&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,301,046&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Net increase in cash and cash equivalents</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,104,905&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,693,709&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Cash and cash equivalents, </font><font style="display:inline;font-family:Calibri;font-size:10pt;">beginning of year</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,909,500&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-bottom:1pt solid #000000 ;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,215,791&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Cash and cash equivalents, </font><font style="display:inline;font-family:Calibri;font-size:10pt;">end of period</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,014,405&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:1pt solid #000000 ;border-bottom:2pt double #000000 ;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,909,500&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Supplemental disclosures of cash flow activity:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;border-top:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;border-top:2pt double #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 14.4pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Cash paid for interest</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,769,372&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,525,978&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;font-size:10pt;">Supplemental disclosure of non-cash investing and financing activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;font-family:Calibri;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Payments of fixed assets in accounts payable</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,153&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;background-color: #CCEEFF;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>168,775&nbsp;
				</td>
				<td valign="bottom" style="width:00.38%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:73.20%;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">Payments of long term debt with proceeds from term loan of $21,000,000 and revolver loan of $4,000,000</font></p>
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,000,000&nbsp;
				</td>
				<td valign="bottom" style="width:01.50%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.08%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.64%;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Calibri;font-weight:bold;">&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:00.38%;padding:0pt;">
					<p style="margin:0pt;text-align:left;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Calibri;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
