August 21, 2009

Via EDGAR

Ms. Angela Connell

Reviewing Accountant

Division of Corporation Finance

U.S. Securities and Exchange Commission

100 F Street, NW

Washington, D.C. 20549

Mail Stop 4720

Re:

First Community Bancshares, Inc.

Form 10-K for the Fiscal Year Ended December 31, 2008

Form 10-Q for the Fiscal Quarter Ended March 31, 2009

File No. 000-19297

Dear Ms. Connell:

This letter is provided on behalf of First Community Bancshares, Inc. (“First Community,” the “Company,” “we,” or “our”) in response to your letter of July 27, 2009, regarding the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2009.

The Company acknowledges that:

The Company is responsible for the adequacy and accuracy of the disclosure in the referenced filings;

Staff comments or changes to disclosures in response to staff comments do not foreclose the Securities and Exchange Commission (the “Commission”) from taking any action with respect to the referenced filings; and

The Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.

For your convenience, we have included in this letter, in bold, the number and description of each of the comments in your letter; our responses follow.

Form 10-K for Fiscal Year Ended December 31, 2008:

Note 1. Summary of Significant Accounting Policies

Long-term Investments, page 53

1.	We note your response to comment 1 of our letter dated June 23, 2009. Please confirm that you will revise your future filings to disclose your accounting and impairment policy related to your investment in FHLB stock.

We confirm that we will revise future Annual Report on Form 10-K filings to disclose our accounting and impairment policy related to our investment in Federal Home Loan Bank of Atlanta stock.

P.O. Box 989 □ One Community Place □ Bluefield, VA 24605 □ Telephone: 276-326-9000 □ Fax: 276-326-9010 □ www.fcbinc.com

Ms. Angela Connell

August 21, 2009

Page 2

Form 10-Q for Fiscal Quarter Ended March 31, 2009:

Management’s Analysis of Financial Condition and Results of Operations

Financial Condition – Securities, page 29

We note your response to comment 15 of our letter dated June 23, 2009. Considering the significant judgment required to determine if a security is other than temporarily impaired and the focus users of financial statements have placed on this area, we believe comprehensive and detailed disclosure is required to meet the disclosure requirements in paragraph 38 of FSP FAS 115-2 and FAS 124-2 and Item 303 of Regulation S-K. Therefore, for each individual and pooled trust preferred security with at least one rating below investment grade, please revise your future filings to disclose the following information (some of which you provided in response to our initial comment) as of the most recent period end:

deal name

single issuer or pooled

class/tranche

book value

fair value

unrealized gain/loss

lowest credit rating assigned

number of banks currently performing

actual deferrals and defaults as a percentage of original collateral

expected deferrals and defaults as a percentage of remaining performing collateral

excess subordination as a percentage of remaining performing collateral

Additionally, please clearly disclose how you calculate excess subordination and discuss what the excess subordination percentage signifies to allow an investor to understand why this information is relevant and meaningful.

We propose making the following enhanced disclosure in future periodic filings:

Ms. Angela Connell

August 21, 2009

Page 3

The following table presents in more detail the single-issue and pooled trust preferred security holdings as of March 31, 2009.

(In Thousands)																Current					Excess
			Current	Credit												Deferrals/Defaults					Subordination
			Lowest	Rating			Currently						Unrealized					Percent					Percent
	Class/		Credit	at	Original		Performing		Book		Fair		Gain/					of					of
Deal Name	Tranche		Rating	Purchase	Issuers		Issuers		Value		Value		(Loss)			Amount		Deal			Amount		Deal

Single-issuer
BankAmerica Cap		n/a	BB	A		1		1	$	2,344	$	1,039	$	(1,305	)	None			n/a			n/a		n/a
BankBoston Cap		n/a	BB	A		1		1		4,129		2,736		(1,393	)	None			n/a			n/a		n/a
Chase Captial II		n/a	AA	A		1		1		3,615		1,507		(2,108	)	None			n/a			n/a		n/a
CoreStates Capital I		n/a	A	A		1		1		2,933		1,518		(1,415	)	None			n/a			n/a		n/a
First Chicago NDB CA		n/a	AA	A		1		1		1,434		643		(791	)	None			n/a			n/a		n/a
JPMorgan Chase Cap X		n/a	AA	A		1		1		5,014		2,020		(2,994	)	None			n/a			n/a		n/a
NB-Global		n/a	BB	A		1		1		19,382		7,123		(12,259	)	None			n/a			n/a		n/a
NTC Capital I Float		n/a	A	A		1		1		4,004		2,146		(1,858	)	None			n/a			n/a		n/a
SunTrust Banks		n/a	A	A		1		1		4,939		2,655		(2,284	)	None			n/a			n/a		n/a
Wachovia Cap II		n/a	A	A		1		1		4,875		2,535		(2,340	)	None			n/a			n/a		n/a

Pooled
PreTSL X		B1	CC	A		61		50	$	10,000	$	3,796	$	(6,204	)	$	91,800		21.8	%	$	40,500		10.0	%
PreTSL XII		B1	CC	A		83		73		20,000		10,282		(9,718	)		70,000		10.0	%		113,000		16.0	%
PreTSL XIV		B1	CC	A		65		57		9,016		4,056		(4,960	)		43,000		9.9	%		75,000		17.0	%
PreTSL XVI		C	CC	A		58		52		4,001		516		(3,485	)		84,230		16.1	%		82,000		16.0	%
PreTSL XXII		C1	CC	A		103		87		12,566		408		(12,158	)		210,000		17.9	%		190,500		16.0	%
PreTSL XXIII		C1	CCC	A		137		117		7,894		1,335		(6,559	)		112,500		8.8	%		313,500		25.0	%
PreTSL XXVI		C1	CC	A		78		65		6,946		133		(6,813	)		124,000		14.8	%		151,500		18.0	%
SLOSO 2007 1A		A3L	CC	A		56		55		2,944		1,243		(1,701	)		47,500		9.9	%		487		0.1	%
Trapeza Ser 13A		D	A	A		63		59		20,000		936		(19,064	)		46,500		6.6	%		2,434		0.4	%

The amount of immediate default a security can withstand before an expected loss of principal is commonly referred to as “excess subordination.” It is a good tool for determining the ability of a specific deal to absorb future defaults and deferrals before principal loss can be expected within a certain tranche. Excess subordination is generally calculated by modeling increasing levels of current default until a projected loss of principal occurs.

Please provide us with your calculation of the present value of cash flows expected to be collected from the following debt securities – PreTSL XII and TRAPEZA SER 13A – as of March 31, 2009 and confirm that you use the same methodology for all of your trust preferred securities. Identify the key assumptions used in your analysis and explain how you determined the assumptions were appropriate and consistent with FSP FAS 115-2 and FAS 124-2 and related guidance. Specifically address the following with respect to the assumptions used in your calculation:

Discount rate – specify the discount rate and how it was determined.

Deferrals and defaults –

Explain in detail how you developed your estimates of future deferrals and defaults. Specifically tell us if and how you considered specific collateral underlying each individual security and tell us whether you had different estimates of deferrals and defaults for each security;

Provide us with the actual amount and percentage of deferrals and defaults experienced by the trust by quarter;

Ms. Angela Connell

August 21, 2009

Page 4

Provide us with your estimate for future deferrals and defaults and compare your estimate to the actual amounts experienced to date;

Explain how you treat deferrals (e.g. – do you treat deferrals the same as defaults); and

Specify the recovery rate used and how it was determined.

We use the same methodology for determining other-than-temporary impairment (“OTTI”) for all of our pooled trust preferred securities. FSP FAS 115-2 and FAS 124-2 guides preparers to EITF 99-20, as amended, when securities with a fair value less than book value are beneficial interests and rated lower than AA by a credit rating agency. Cash flow projections for the purpose of determining if an adverse change in cash flows has occurred and the resulting present value computation to determine credit impairment are derived from an analysis provided by INTEX and are used as the base for these analyses. Paragraph 12(b) of EITF 99-20, as amended, requires the future cash flows to be discounted at a rate equal to that used to accrete beneficial interest. Accordingly, we discounted the projected cash flows at the current coupon rate for the security being analyzed. At March 31, 2009, those rates were 2.94% and 4.43% for PreTSL XII and Trapeza Ser 13A, respectively. Both of these securities are floating rate based off of 3-month LIBOR plus a spread, and thus the coupon of the securities and the discount rate used in the present value calculation will change.

INTEX cash flow models quantify the effects of current known defaults and deferrals. In addition to known defaults and deferrals within each security, we applied a constant default rate of 0.75% to all securities analyzed. The projected default rate was derived from the FDIC listing of the number of bank failures from 1934-2008. Comparing bank failures to the number of FDIC institutions produces an annual average default rate of 36 basis points. A qualitative adjustment was made to that absolute failure rate was qualitatively adjusted to 75 basis points trying to take into account potentially higher levels of default, on average, over the course of the next 30 years than previously experienced. The projected default rate was applied consistently to all securities analyzed.

The discounted projected cash flows for PreTSL XII and Trapeza Ser 13A at March 31, 2009, are detailed in Tables 1 and 2 following the narrative portion of our letter.

The following table presents the defaults and deferrals experienced by PreTSL XII and Trapeza Ser 13A for the periods indicated.

(Dollars In Thousands)	New Defaults					New Deferrals					Cumulative Defaults					Cumulative Deferrals
			Percent					Percent					Percent					Percent
			of					of					of					of
Deal Name	Amount		Deal			Amount		Deal			Amount		Deal			Amount		Deal

PreTSL XII
2Q 2008	$	16,000		1.9	%	$	-		0.0	%	$	16,000		1.9	%	$	-		0.0	%
3Q 2008		-		0.0	%		5,000		0.6	%		16,000		1.9	%		5,000		0.6	%
4Q 2008		-		0.0	%		44,000		5.4	%		16,000		1.9	%		49,000		6.0	%
1Q 2009		-		0.0	%		5,000		0.6	%		16,000		1.9	%		54,000		6.6	%

Trapeza Ser 13A
2Q 2008	$	-		0.0	%	$	-		0.0	%	$	-		0.0	%	$	-		0.0	%
3Q 2008		15,000		2.0	%		-		0.0	%		15,000		2.0	%		-		0.0	%
4Q 2008		-		0.0	%		22,500		3.0	%		15,000		2.0	%		22,500		3.0	%
1Q 2009		-		0.0	%		9,000		1.2	%		15,000		2.0	%		31,500		4.2	%

Using a constant default rate of 75 basis points generated second quarter 2009 projected defaults of $1.3 million in both PreTSL XII and Trapeza Ser 13A. Assuming no prepayments and no recoveries, 75 basis points of constant default would result in total defaults over the life of the deal of $119.1 million in PreTSL XII and $129.9 million in Trapeza Ser 13A. PreTSL XII experienced $72.6 million in new deferrals during the second quarter of 2009 and Trapeza Ser 13A experienced $34.5 million in new deferrals during the same period.

Ms. Angela Connell

August 21, 2009

Page 5

At March 31, 2009, we believed the 75 basis points of constant default is a realistic level over the course of time. However, deferrals and defaults have been high, and we reasonably expect them to remain high for the near future. As reported in our June 30, 2009, Quarterly Report on Form 10-Q, this new reality gave rise to using a default scenario in our second quarter 2009 analysis that approximates the Savings and Loan Crisis of the late 1980’s and early 1990’s. This new default scenario assumes the great majority of defaults will occur in the near-term and the remaining periods experience a much lower average default rate. The total expected defaults remain roughly the same as in the earlier 75 basis point constant default scenario, but the S&L scenario more accurately projects how bubbles of default affect the deal structure differently. The change to the S&L default scenario led to us recognizing OTTI on PreTSL X and PreTSL XII and additional OTTI on SLOSO 20071A at June 30, 2009.

Deferrals are treated as defaults for our cash flow modeling. A true deferral of interest payments is treated as a default with a subsequent recovery. We assume a 15% recovery rate for future deferrals that lags two years from original default. This is based on a Standard & Poors report regarding their methodology for rating trust preferred securities. Current deferrals are generally assigned a recovery rate of 15% and current defaults are generally assigned a recovery rate of 0%.

Please tell us how you considered information received after the balance sheet date but before you issued your financial statements in your other-than-temporary impairment analysis at December 31, 2009 and March 31, 2009. Specifically tell us if you received information regarding interest deferrals or defaults or credit rating downgrades and how this information affected your analysis at each period end.

As part of our OTTI analysis, we consider all information and events occurring subsequent to the balance sheet date, but before issuing the financial statements. In the case of defaults and deferrals discovered by us after the balance sheet date, we review our assumptions regarding those specific defaults and deferrals used in the cash flow analysis for a particular security. In the cases of the December 31, 2008, and the March 31, 2009, financial statements, defaults and deferrals announced after the balance sheet date were able to be absorbed by the assumed level of prospective default and structure within the specific deal.

We had one security, Trapeza Ser 13 A, downgraded by a certain credit rating agency after March 31, 2009, but before the issuance of the financial statements. Since we had already completed our own assessment of the cash flows associated with the underlying collateral, the downgrade did have a material impact on our OTTI analysis. Due to perceived and actual deficiencies in credit rating agency grades, we had already reduced our reliance and weight placed on those grades.

Thank you for your consideration of our responses to your comments. We are happy to provide any further information or assistance you may require.

Sincerely,

/s/ David D. Brown

David D. Brown

Chief Financial Officer

Ms. Angela Connell

August 21, 2009

Page 6

Table 1

PreTSL XII B-1
Projected Cash Flows
March 31, 2009

					Total		Discounted
Date	Principal		Interest		Cashflow		Cashflow

June 24, 2009	$	-	$	146,782	$	146,782	$	145,712
September 24, 2009		-		146,782		146,782		144,651
December 24, 2009		-		146,782		146,782		143,597
March 24, 2010		-		146,782		146,782		142,550
June 24, 2010		-		146,782		146,782		141,512
September 24, 2010		-		146,782		146,782		140,481
December 24, 2010		-		146,782		146,782		139,457
March 24, 2011		-		146,782		146,782		138,441
June 24, 2011		-		146,782		146,782		137,433
September 24, 2011		-		146,782		146,782		136,431
December 24, 2011		-		146,782		146,782		135,437
March 24, 2012		-		146,782		146,782		134,451
June 24, 2012		-		146,782		146,782		133,471
September 24, 2012		-		146,782		146,782		132,499
December 24, 2012		-		146,782		146,782		131,533
March 24, 2013		-		146,782		146,782		130,575
June 24, 2013		-		146,782		146,782		129,624
September 24, 2013		-		146,782		146,782		128,679
December 24, 2013		-		146,782		146,782		127,742
March 24, 2014		-		146,782		146,782		126,811
June 24, 2014		-		146,782		146,782		125,887
September 24, 2014		-		146,782		146,782		124,970
December 24, 2014		-		146,782		146,782		124,060
March 24, 2015		-		146,782		146,782		123,156
June 24, 2015		-		146,782		146,782		122,259
September 24, 2015		-		146,782		146,782		121,368
December 24, 2015		-		146,782		146,782		120,484
March 24, 2016		-		146,782		146,782		119,606
June 24, 2016		-		146,782		146,782		118,734
September 24, 2016		-		146,782		146,782		117,869
December 24, 2016		-		146,782		146,782		117,011
March 24, 2017		-		146,782		146,782		116,158
June 24, 2017		-		146,782		146,782		115,312
September 24, 2017		-		146,782		146,782		114,472
December 24, 2017		-		146,782		146,782		113,638
March 24, 2018		-		146,782		146,782		112,810
June 24, 2018		-		146,782		146,782		111,988
September 24, 2018		-		146,782		146,782		111,172
December 24, 2018		-		146,782		146,782		110,362

Ms. Angela Connell

August 21, 2009

Page 7

Table 1 - Continued

PreTSL XII B-1
Projected Cash Flows
March 31, 2009

					Total		Discounted
Date	Principal		Interest		Cashflow		Cashflow

March 24, 2019	$	-	$	146,782	$	146,782	$	109,558
June 24, 2019		-		146,782		146,782		108,760
September 24, 2019		-		146,782		146,782		107,967
December 24, 2019		-		146,782		146,782		107,181
March 24, 2020		-		146,782		146,782		106,400
June 24, 2020		-		146,782		146,782		105,625
September 24, 2020		-		146,782		146,782		104,855
December 24, 2020		-		146,782		146,782		104,091
March 24, 2021		-		146,782		146,782		103,333
June 24, 2021		-		146,782		146,782		102,580
September 24, 2021		-		146,782		146,782		101,833
December 24, 2021		-		146,782		146,782		101,091
March 24, 2022		-		146,782		146,782		100,354
June 24, 2022		-		146,782		146,782		99,623
September 24, 2022		-		146,782		146,782		98,897
December 24, 2022		-		146,782		146,782		98,177
March 24, 2023		-		146,782		146,782		97,462
June 24, 2023		-		146,782		146,782		96,751
September 24, 2023		-		146,782		146,782		96,047
December 24, 2023		-		146,782		146,782		95,347
March 24, 2024		-		146,782		146,782		94,652
June 24, 2024		-		146,782		146,782		93,963
September 24, 2024		-		146,782		146,782		93,278
December 24, 2024		-		146,782		146,782		92,598
March 24, 2025		-		146,782		146,782		91,924
June 24, 2025		-		146,782		146,782		91,254
September 24, 2025		-		146,782		146,782		90,589
December 24, 2025		-		146,782		146,782		89,929
March 24, 2026		-		146,782		146,782		89,274
June 24, 2026		-		146,782		146,782		88,624
September 24, 2026		-		146,782		146,782		87,978
December 24, 2026		-		146,782		146,782		87,337
March 24, 2027		-		146,782		146,782		86,701
June 24, 2027		-		146,782		146,782		86,069
September 24, 2027		-		146,782		146,782		85,442
December 24, 2027		-		146,782		146,782		84,819
March 24, 2028		-		146,782		146,782		84,201
June 24, 2028		-		146,782		146,782		83,588
September 24, 2028		-		146,782		146,782		82,979

Ms. Angela Connell

August 21, 2009

Page 8

Table 1 - Continued

PreTSL XII B-1
Projected Cash Flows
March 31, 2009

					Total		Discounted
Date	Principal		Interest		Cashflow		Cashflow

December 24, 2028	$	-	$	146,782	$	146,782	$	82,374
March 24, 2029		-		146,782		146,782		81,774
June 24, 2029		-		146,782		146,782		81,179
September 24, 2029		-		146,782		146,782		80,587
December 24, 2029		-		146,782		146,782		80,000
March 24, 2030		-		146,782		146,782		79,417
June 24, 2030		-		146,782		146,782		78,839
September 24, 2030		-		146,782		146,782		78,264
December 24, 2030		-		146,782		146,782		77,694
March 24, 2031		-		146,782		146,782		77,128
June 24, 2031		-		146,782		146,782		76,566
September 24, 2031		-		146,782		146,782		76,008
December 24, 2031		-		146,782		146,782		75,454
March 24, 2032		-		146,782		146,782		74,905
June 24, 2032		-		146,782		146,782		74,359
September 24, 2032		-		146,782		146,782		73,817
December 24, 2032		-		146,782		146,782		73,279
March 24, 2033		-		146,782		146,782		72,745
June 24, 2033		-		146,782		146,782		72,215
September 24, 2033		2,286,045		146,782		2,432,826		1,188,213
December 24, 2033		17,713,955		130,004		17,843,959		8,651,648

Total	$	20,000,000	$	14,514,591	$	34,514,591	$	20,000,000

Ms. Angela Connell

August 21, 2009

Page 9

Table 2

TRAPEZA SER 13A
Projected Cash Flows
March 31, 2009

						Total			Discounted
Date	Principal		Interest			Cashflow			Cashflow

May 5, 2009	$	-	$	98,300		$	98,300		$	97,222
August 5, 2009		-		59,556			59,556			58,257
November 5, 2009		-		54,037			54,037			52,279
February 5, 2010		-		47,403			47,403			45,358
May 5, 2010		-		51,539			51,539			48,775
August 5, 2010		-		102,196			102,196			95,655
November 5, 2010		-		149,532			149,532			138,426
February 5, 2011		-		167,953			167,953			153,774
May 5, 2011		-		138,779			138,779			125,669
August 5, 2011		-		78,635			78,635			70,426
November 5, 2011		-		29,633			29,633			26,249
February 5, 2012		-		312			312			273
May 5, 2012		-		5,709			5,709			4,946
August 5, 2012		-		13,209			13,209			11,320
November 5, 2012		-		21,342			21,342			18,089
February 5, 2013		-		16,461			16,461			13,799
May 5, 2013		-		251,789			251,789			208,756
August 5, 2013		-		(2,411	)		(2,411	)		(1,977	)
November 5, 2013		-		254,607			254,607			206,489
February 5, 2014		-		254,607			254,607			204,225
May 5, 2014		-		254,607			254,607			201,986
August 5, 2014		-		254,607			254,607			199,771
November 5, 2014		-		254,607			254,607			197,581
February 5, 2015		-		254,607			254,607			195,415
May 5, 2015		-		254,607			254,607			193,272
August 5, 2015		-		254,607			254,607			191,153
November 5, 2015		-		254,607			254,607			189,057
February 5, 2016		-		254,607			254,607			186,984
May 5, 2016		-		254,607			254,607			184,934
August 5, 2016		-		254,607			254,607			182,906
November 5, 2016		-		254,607			254,607			180,901
February 5, 2017		-		254,607			254,607			178,917
May 5, 2017		-		254,607			254,607			176,956
August 5, 2017		-		254,607			254,607			175,015
November 5, 2017		-		254,607			254,607			173,097
February 5, 2018		-		254,607			254,607			171,199
May 5, 2018		-		254,607			254,607			169,322
August 5, 2018		-		254,607			254,607			167,465
November 5, 2018		-		254,607			254,607			165,629

Ms. Angela Connell

August 21, 2009

Page 10

Table 2 - Continued

TRAPEZA SER 13A
Projected Cash Flows
March 31, 2009

					Total		Discounted
Date	Principal		Interest		Cashflow		Cashflow

February 5, 2019	$	-	$	254,607	$	254,607	$	163,813
May 5, 2019		-		254,607		254,607		162,017
August 5, 2019		-		254,607		254,607		160,240
November 5, 2019		-		254,607		254,607		158,483
February 5, 2020		-		254,607		254,607		156,746
May 5, 2020		-		332,013		332,013		202,158
August 5, 2020		-		253,749		253,749		152,811
November 5, 2020		-		596,894		596,894		355,515
February 5, 2021		-		715,626		715,626		421,559
May 5, 2021		-		775,740		775,740		451,960
August 5, 2021		-		778,805		778,805		448,771
November 5, 2021		-		768,590		768,590		438,029
February 5, 2022		-		691,126		691,126		389,563
May 5, 2022		-		231,567		231,567		129,095
August 5, 2022		-		221,719		221,719		122,249
November 5, 2022		-		221,719		221,719		120,909
February 5, 2023		-		221,719		221,719		119,583
May 5, 2023		-		221,719		221,719		118,272
August 5, 2023		-		221,719		221,719		116,975
November 5, 2023		-		221,719		221,719		115,693
February 5, 2024		-		221,719		221,719		114,424
May 5, 2024		-		221,719		221,719		113,170
August 5, 2024		-		221,719		221,719		111,929
November 5, 2024		-		221,719		221,719		110,702
February 5, 2025		-		221,719		221,719		109,488
May 5, 2025		-		221,719		221,719		108,287
August 5, 2025		-		221,719		221,719		107,100
November 5, 2025		-		221,719		221,719		105,926
February 5, 2026		-		221,719		221,719		104,764
May 5, 2026		-		221,719		221,719		103,616
August 5, 2026		-		221,719		221,719		102,480
November 5, 2026		-		221,719		221,719		101,356
February 5, 2027		-		221,719		221,719		100,245
May 5, 2027		-		221,719		221,719		99,146
August 5, 2027		-		221,719		221,719		98,059
November 5, 2027		-		221,719		221,719		96,983
February 5, 2028		-		221,719		221,719		95,920
May 5, 2028		-		221,719		221,719		94,868
August 5, 2028		-		221,719		221,719		93,828

Ms. Angela Connell

August 21, 2009

Page 11

Table 2 - Continued

TRAPEZA SER 13A
Projected Cash Flows
March 31, 2009

					Total		Discounted
Date	Principal		Interest		Cashflow		Cashflow

November 5, 2028	$	-	$	221,719	$	221,719	$	92,799
February 5, 2029		-		221,719		221,719		91,782
May 5, 2029		-		221,719		221,719		90,776
August 5, 2029		-		221,719		221,719		89,780
November 5, 2029		-		221,719		221,719		88,796
February 5, 2030		-		221,719		221,719		87,822
May 5, 2030		-		221,719		221,719		86,859
August 5, 2030		-		221,719		221,719		85,907
November 5, 2030		-		221,719		221,719		84,965
February 5, 2031		-		221,719		221,719		84,033
May 5, 2031		-		221,719		221,719		83,112
August 5, 2031		-		221,719		221,719		82,201
November 5, 2031		-		221,719		221,719		81,300
February 5, 2032		-		221,719		221,719		80,408
May 5, 2032		-		221,719		221,719		79,527
August 5, 2032		-		221,719		221,719		78,655
November 5, 2032		-		221,719		221,719		77,792
February 5, 2033		-		221,719		221,719		76,939
May 5, 2033		-		221,719		221,719		76,096
August 5, 2033		-		221,719		221,719		75,261
November 5, 2033		-		221,719		221,719		74,436
February 5, 2034		-		221,719		221,719		73,620
May 5, 2034		-		221,719		221,719		72,813
August 5, 2034		-		221,719		221,719		72,014
November 5, 2034		-		221,719		221,719		71,225
February 5, 2035		-		221,719		221,719		70,444
May 5, 2035		-		221,719		221,719		69,671
August 5, 2035		-		221,719		221,719		68,908
November 5, 2035		-		221,719		221,719		68,152
February 5, 2036		-		221,719		221,719		67,405
May 5, 2036		-		221,719		221,719		66,666
August 5, 2036		-		221,719		221,719		65,935
November 5, 2036		-		221,719		221,719		65,212
February 5, 2037		-		221,719		221,719		64,497
May 5, 2037		-		221,719		221,719		63,790
August 5, 2037		-		221,719		221,719		63,090
November 5, 2037		20,000,000		221,719		20,221,719		5,691,011

Total	$	20,000,000	$	26,794,452	$	46,794,452	$	20,000,000