<SUBMISSION>
<ACCESSION-NUMBER>0001104659-06-010535
<TYPE>S-3
<PUBLIC-DOCUMENT-COUNT>3
<FILING-DATE>20060217
<DATE-OF-FILING-DATE-CHANGE>20060217
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>INFOSONICS CORP
<CIK>0001274032
<ASSIGNED-SIC>5065
<IRS-NUMBER>330599368
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>S-3
<ACT>33
<FILE-NUMBER>333-131935
<FILM-NUMBER>06630120
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>5880 PACIFIC CENTER BLVD.
<CITY>SAN DIEGO
<STATE>CA
<ZIP>92121
<PHONE>858 373-1600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>5880 PACIFIC CENTER BLVD.
<CITY>SAN DIEGO
<STATE>CA
<ZIP>92121
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>a06-5284_1s3.htm
<DESCRIPTION>REGISTRATION STATEMENT FOR FACE-AMOUNT CERTIFICATE COMPANIES
<TEXT>
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<head>





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<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
filed with the Securities and Exchange Commission on February 17, 2006</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Registration
No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>

<div style="border:none;border-top:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
STATES SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington,
D.C. 20549</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Form S-3</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">INFOSONICS
CORPORATION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(Exact
name of registrant as specified in its charter)</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Maryland</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">33-0599368</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(State or other jurisdiction of<br>&nbsp;incorporation or organization)</font></i></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(I.R.S. Employer<br>
  Identification Number)</font></i></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5880
Pacific Center Blvd.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">San
Diego, California </font>92121</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(858) 373-1600</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(Address,
including zip code, and telephone number, including area code, of registrant&#146;s
principal executive offices)</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Joseph
Ram, President</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5880
Pacific Center Blvd.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">San
Diego, California </font>92121</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(858) 373-1600</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(Name,
address, including zip code, and telephone number, including area code, of
agent for service)</font></i></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Copies to:</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Alan L.
Talesnick</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Jon S.
Ploetz</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Donna
J. Bloomer</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Patton
Boggs LLP</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1660
Lincoln St.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Suite
1900</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Denver,
CO 80264</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(303)
830-1776</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">Approximate date of
commencement of proposed sale to the public</font></b><font style="letter-spacing:-.1pt;">:&#160; From time
to time after effectiveness of this Registration Statement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="letter-spacing:-.1pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">If the only securities being registered on
this Form are being offered pursuant to dividend or interest reinvestment
plans, please check the following box.&nbsp;&nbsp;</font><font face="Wingdings" style="letter-spacing:-.1pt;">o</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="letter-spacing:-.1pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">If any of the securities being registered on
this form are to be offered on a delayed or continuous basis pursuant to Rule
415 under the Securities Act of 1933, other than securities offered only in
connection with dividend or interest reinvestment plans, check the following
box.&nbsp;&nbsp;</font><font face="Wingdings" style="letter-spacing:-.1pt;">&#253;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act,
please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same
offering.&nbsp;&nbsp;</font><font face="Wingdings" style="letter-spacing:-.1pt;">o</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box
and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering.&nbsp;&nbsp;</font><font face="Wingdings" style="letter-spacing:-.1pt;">o</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="letter-spacing:-.1pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">If delivery of the prospectus is expected to
be made pursuant to Rule 434, please check the following box.&nbsp;&nbsp;</font><font face="Wingdings" style="letter-spacing:-.1pt;">o</font></p>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;font-size:10.0pt;margin:0in 0in .0001pt;padding:0in;">&nbsp;</p>

</div>

<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CALCULATION OF REGISTRATION FEE</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="220" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Title of each class of <br>
  securities to be<br>
  registered (1)</font></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="86" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Amount to be<br>
  registered (2)</font></b></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="118" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:88.4pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Proposed maximum<br>
  offering price per <br>
  share</font></b></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="127" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:95.6pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Proposed maximum <br>
  aggregate offering <br>
  price</font></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="97" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:72.7pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Amount of <br>
  registration fee</font></b></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="86" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="118" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:88.4pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="127" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:95.6pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="97" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:72.7pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock, par value $.001<b><i><font style="font-style:italic;font-weight:bold;"> &#150; </font>Private Placement Shares</i></b></font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,100,000</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="109" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:81.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.10</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="118" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:88.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,310,000</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="88" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,424</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" style="border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="118" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:88.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="127" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:95.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="97" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:72.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock underlying Warrants to
  purchase Common Stock<b><i><font style="font-style:italic;font-weight:bold;"> &#150; </font>Private
  Placement Warrants</i></b></font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">330,000</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="109" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:81.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18.38</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="118" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:88.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,065,400</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="88" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">649</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" style="border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="118" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:88.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="127" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:95.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="97" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:72.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock underlying warrants to
  purchase Common Stock<b><i><font style="font-style:italic;font-weight:bold;"> &#150; </font>Placement Agent
  Warrants</i></b></font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22,000</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="109" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:81.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.76</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="118" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:88.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">302,720</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="88" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" style="border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="118" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:88.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="127" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:95.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="97" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:72.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock underlying warrants to
  purchase Common Stock<b><i><font style="font-style:italic;font-weight:bold;"> &#150;</font>&nbsp;Placement
  Agent Warrants</i></b></font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,600</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="109" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:81.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19.30</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="118" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:88.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">127,380</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="88" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" style="border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">&nbsp;</font></i></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="118" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:88.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="127" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:95.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="97" colspan="2" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:72.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="220" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:164.7pt;">
  <p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TOTAL</font></b></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.1in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="86" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:64.35pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,458,600</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:14.2pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="118" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:88.4pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.2in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="127" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:95.6pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="88" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.7pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,119</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 36.75pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(1)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">Consists of
shares and shares underlying warrants held by certain selling stockholders.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 36.75pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(2)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">Pursuant
to Rule 416 under the Securities Act of 1933, as amended, this registration
statement also covers such additional shares of common stock as may be issued
as a result of stock splits, dividends, and combinations.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 36.75pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(3)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">The
proposed maximum offering price per share was estimated solely for the purpose
of calculating the registration fee pursuant to Rule 457 under the Securities
Act of 1933 based upon the average of the high and low sales prices of the
Registrant&#146;s common stock as reported on the American Stock Exchange on
February 13, 2006.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 36.75pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(4)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">Consists
of shares underlying warrants which first become exercisable on August 2, 2006.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Registrant hereby amends
this Registration Statement on such date or dates as may be necessary to delay
its effective date until the Registrant shall file a further amendment which
specifically states that the Registration Statement shall thereafter become
effective in accordance with Section 8(a) of the Securities Act of 1933 or
until the Registration Statement shall become effective on such date as the
Commission, acting pursuant to said Section 8(a), may determine.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\nkmoorthy\06-5284-1\task827621\5284-1-ba.htm',USER='nkrishnamoorthy',CD='Feb 18 02:24 2006' -->



<br clear="all" style="page-break-before:always;">

<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">The
information in this prospectus is not complete and may be changed. The
stockholders may not sell these securities until the registration statement
filed with the Securities and Exchange Commission is effective.&#160; This prospectus is not an offer to sell these
securities and it is not soliciting an offer to buy these securities in any
state where the offer or sale is not permitted.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PRELIMINARY
PROSPECTUS DATED FEBRUARY 17, 2006</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SUBJECT
TO COMPLETION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INFOSONICS
CORPORATION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1,458,600
Shares of Common Stock</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This prospectus
relates to the sale by certain of our stockholders, referred to as the &#147;Selling
Stockholders&#148;, of up to 1,458,600 shares of our common stock which they own or
which they may acquire pursuant to the exercise of warrants to purchase common
stock which they own.&#160; We will not
receive any proceeds from the sale of any shares by the Selling Stockholders.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our common stock
is quoted on the American Stock Exchange under the symbol &#147;IFO.&#148;&#160; On February 13, 2006, the closing sale price
of our common stock was $12.25 per share.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">These
securities are speculative and involve a high degree of risk.&#160; You should consider carefully the &#147;Risk
Factors&#148; beginning on Page 2 of this prospectus before making a decision to
purchase our stock.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Neither
the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or passed upon the adequacy or
accuracy of this prospectus.&#160; Any
representation to the contrary is a criminal offense.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The date of this prospectus
is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2006</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\danandhan\06-5284-1\task823739\5284-1-bc.htm',USER='danandhan',CD='Feb 16 18:27 2006' -->



<br clear="all" style="page-break-before:always;">

<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TABLE OF CONTENTS</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#ProspectusSummary_160638">PROSPECTUS
  SUMMARY</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#ProspectusSummary_160638">1</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#RiskFactors_160737">RISK FACTORS</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#RiskFactors_160737">2</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#CautionaryStatementRegardingForwa_143946">CAUTIONARY
  STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#CautionaryStatementRegardingForwa_143946">9</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#UseOfProceeds_160946">USE OF
  PROCEEDS</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#UseOfProceeds_160946">9</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#DividendPolicy_160949">DIVIDEND
  POLICY</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#DividendPolicy_160949">9</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#SellingStockholders_160953">SELLING
  STOCKHOLDERS</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#SellingStockholders_160953">9</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#PlanOfDistribution_150242">PLAN
  OF DISTRIBUTION</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#PlanOfDistribution_150242">16</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#LegalMatters_150508">LEGAL
  MATTERS</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#LegalMatters_150508">17</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#Experts_150522">EXPERTS</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#Experts_150522">17</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#SecuritiesAndExchange_150536">SECURITIES
  AND EXCHANGE COMMISSION POSITION ON CERTAIN INDEMNIFICATION</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#SecuritiesAndExchange_150536">17</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#WhereYouCanFindMoreInformation_150709">WHERE YOU CAN FIND
  MORE INFORMATION</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#WhereYouCanFindMoreInformation_150709">18</a></font></p>
  </td>
 </tr>
 <tr>
  <td width="680" valign="top" style="padding:0in .7pt 0in .7pt;width:510.35pt;">
  <p style="color:blue;margin:0in 0in .0001pt;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#IncorporationOfInformationWeFileW_150733">INCORPORATION
  OF INFORMATION WE FILE WITH THE SEC</a></font></p>
  </td>
  <td width="41" valign="top" style="padding:0in .7pt 0in .7pt;width:31.05pt;">
  <p align="right" style="color:blue;margin:0in 0in .0001pt;text-align:right;text-decoration:underline;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;"><a href="a06-5284_1s3.htm#IncorporationOfInformationWeFileW_150733">18</a></font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You should rely
only on the information contained in this prospectus.&#160; We have not authorized anyone to provide you
with different information.&#160; If anyone
provides you with different information, you should not rely on it.&#160; You should assume that the information
contained in this prospectus is accurate only as of the date on the front cover
of this prospectus.&#160; Our business,
financial condition, results of operations and prospects may have changed since
that date.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless the
context otherwise requires, references in this prospectus to the &#147;Company&#148;, &#147;we&#148;,
&#147;us&#148; or &#147;ours&#148; refer to InfoSonics Corporation, a Maryland corporation.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">i</font></p>

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</div>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><a name="ProspectusSummary_160638"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">PROSPECTUS SUMMARY</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This summary highlights selected information contained
elsewhere in this prospectus.&#160; You should
read the entire prospectus carefully before making an investment decision.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Overview</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">InfoSonics Corporation (referred to as &#147;InfoSonics&#148; the
&#147;Company,&#148; &#147;we,&#148; &#147;us&#148; and &#147;our&#148;) is one of the largest distributors of wireless
handsets and accessories in the United&nbsp;States and Latin America.&#160; We distribute products of several key
manufacturers, including Kyocera, LG, Motorola, Nokia, Samsung, VK Mobile, and
others.&#160; As an integral part of our
customers&#146; supply chain, we perform value added services and customization
processes.&#160; Our distribution services
include the purchasing, marketing, selling, software customization,
warehousing, light assembly, programming, packing, shipping and delivery of
handsets for wireless telecommunications from manufacturers to carriers
(wireless network operators), agents, resellers, distributors, independent
dealers and retailers in the United States and Latin America.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Company
Offices</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our offices are located at 5880 Pacific Center Blvd,
San Diego, California&#160; 92121. The
telephone number is (858) 373-1600, the facsimile number is (858) 373-1503 and
the Company&#146;s web site is www.infosonics.com. The Company&#146;s periodic and
current reports filed with the Securities and Exchange Commission (the &#147;SEC&#148;)
can be found on the Company&#146;s website and on the SEC&#146;s website at www.sec.gov.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Key Terms of this Offering</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By means of this prospectus, a number of our
stockholders are offering to sell up to an aggregate of 1,458,600 shares of
common stock that they own, including common stock that they may acquire
through the exercise of certain warrants to purchase shares of our common stock
that they own<b><font style="font-weight:bold;">.</font></b>&#160; In this prospectus, we refer to these persons
as the &#147;Selling Stockholders&#148;.&#160; We will
not receive any of the proceeds from the sales of shares by these Selling
Stockholders.&#160; We will pay for the cost
of registering the Stockholders&#146; shares being offered under this prospectus
(the &#147;Offering&#148;).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">This
prospectus covers shares issued in connection with our recent private placement
of </font>an aggregate of 1,100,000 shares of the Company&#146;s common stock at a
purchase price of $13.10 (the &#147;Private Placement Shares&#148;), for total gross
proceeds to the Company of $14,410,000.&#160;
The Investors who purchased shares in the private offering (the &#147;Private
Placement&#148;) were issued warrants to purchase an aggregate of 330,000 shares of
common stock at an exercise price of $18.38 per share during the period
beginning August 2, 2006 and ending February 2, 2010 (the &#147;Private Placement
Warrants&#148;).&#160; In addition, the Company
issued warrants to purchase a total of 28,600 shares to the placement agents
(the &#147;Placement Agents&#148;) in the Private Placement (the &#147;Placement Agent Warrants&#148;).&#160; Of the total number of Placement Agent
Warrants, warrants to purchase 22,000 shares have an exercise price of $13.76
per share (105% of the $13.10 per share offering price) and 6,600 have an
exercise price of $19.30 per share (105% of the $18.38 exercise price of the
warrants).&nbsp; The Placement Agent Warrants first become exercisable on
August 2, 2006 and expire on February 2, 2009.&#160;
The Placement Agents also received cash compensation equal to 6% of the gross
proceeds raised in the Private Placement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The issuance of the Private Placement Shares, the
Private Placement Warrants and the Placement Agent Warrants is exempt pursuant
to provisions of the Securities Act of 1933, as amended (the &#147;Act&#148;), provided
by Rule 506 of Regulation D of the Act and Sections 4(2) and 4(6) thereunder,
and the Private Placement was made only to &#147;accredited investors&#148; as that term
is defined under the Act.&#160; Pursuant to
the terms of the Private Placement, the Company agreed to file, no later than
30 days after the closing of the Private Placement, a registration statement
with the Securities and Exchange Commission to register the resale or other
transfer of the Shares (including the shares underlying the Warrants and
Placement Agent Warrants) by the purchasers and Placement Agents under the Act.
The Registration Statement of which this Prospectus is a part is being filed
pursuant to the Company&#146;s obligation to register the resale of the securities
sold in the Private Placement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><a name="RiskFactors_160737"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">RISK FACTORS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">You
should carefully consider each of the following risk factors and all of the
other information provided in this prospectus before purchasing our common
stock.&#160; The risks described below are
those we currently believe may materially affect us.&#160; An investment in our common stock involves a
high degree of risk, and should be considered only by persons who can afford
the loss of their entire investment.</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Risk
Related to Our Business</font></b></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our operating results may vary
significantly, which may cause our stock price to fluctuate.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our operating
results are influenced by a number of factors, which may cause our revenue and
operating results to fluctuate. These factors include:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:ideograph-numeric;text-indent:-.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">promotions
and subsidy by wireless network operators;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:ideograph-numeric;text-indent:-.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">the
timing of introduction of new products by our suppliers and competitors;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:ideograph-numeric;text-indent:-.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">purchasing
patterns of customers in different markets;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:ideograph-numeric;text-indent:-.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">general
economic conditions; and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-autospace:ideograph-numeric;text-indent:-.5in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">product
availability and pricing.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We buy a significant amount of our products
from a limited number of suppliers, who may not provide us with competitive
products at reasonable prices when we need them in the future.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We purchase
wireless handsets and accessories principally from wireless communications
equipment manufacturers and distributors. We depend on these suppliers to
provide us with adequate inventories of currently popular brand name products
on a timely basis and on favorable pricing and other terms. Our agreements with
our principal suppliers are non-exclusive, can be terminated on short notice
and provide for certain territorial restrictions, as is common in our industry.
For the three months ended September&nbsp;30, 2005 our top three suppliers
accounted for 62%, 15% and 11% respectively of our purchases, compared to the
three months ended September&nbsp;30, 2004 during which our top two suppliers
accounted for 42%, and 16% respectively of our purchases. Our suppliers may not
offer us competitive products on favorable terms or with timely delivery. From
time to time, we have been unable to obtain sufficient product supplies. Any
failure or delay by our suppliers in supplying us with products on favorable
terms may severely diminish our ability to obtain and deliver products to our
customers on a timely and competitive basis. If we lose any of our principal
suppliers, or if these suppliers are unable to fulfill our product needs, or if
any principal supplier imposes substantial price increases and alternative
sources of supply are not readily available, it would have a material adverse
effect on our results of operations.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our continuing liabilities on leases from
our former mall-based retail kiosk locations could have a negative impact on
earnings and cash flow.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Although we
have assigned our six remaining retail leases to a third party and we have
received indemnification from the third party, we also remain liable to the
lessor, for the respective remaining lease terms of one to three years, if the
third party does not fulfill its obligations under the leases. As of
December&nbsp;31, 2004 the total potential liability under these leases was
$1,629,520 which is partially offset by a $95,044 escrow deposit held for the
benefit of InfoSonics to the extent that the third party should default on any
of the assigned leases.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">The loss or reduction in orders from
principal customers or a reduction in prices we are able to charge these
customers will have a negative impact upon our revenues and could cause our
stock price to decline.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our three
largest customers during the three months ended September&nbsp;30, 2005
accounted for approximately 16%, 14% and 12% respectively, of our product
sales. The markets we serve are subject to severe price competition.
Additionally, our customers are not contractually obligated to purchase product
from us. For these and other reasons such as competitive pricing and
competitive pressures, customers may seek to obtain products or services from
us at lower prices than we have been able to obtain from these customers in the
past. This could occur, for example, in the case of a customer purchasing large
quantities of a product from us, who then terminates this relationship because
the customer can obtain a lower price by buying directly from the manufacturer.
The loss of any of our principal customers, a reduction in the amount of
product or services our principal customers order from us or the inability to
maintain current terms, including price, with these or other customers could
have an adverse effect on our financial condition, results of operations and
liquidity. We have experienced losses of certain customers through industry
consolidation and ordinary course of business and there can be no assurance
that any of our customers will continue to purchase products or services from
us or that their purchases will be at the same or greater levels than in prior
periods.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our future profitability depends on our
ability to maintain existing margins and our ability to increase our sales,
which we may not be able to do.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The gross
margins that we realize on sales of wireless handsets could be reduced due to
increased competition or a growing industry emphasis on cost containment.
Therefore, our future profitability will depend on our ability to maintain our
margins or to increase our sales to help offset potential future declines in
margins. We may not be able to maintain existing margins for products or
services offered by us or increase our sales. Our ability to generate sales is
based upon demand for wireless telecommunications products and our having an
adequate supply of these products. Even if our sales rates do increase, the
gross margins that we receive from our sales may not be sufficient to make our
future operations profitable or as profitable.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our business depends on the continued
tendency of wireless equipment manufacturers and network operators to outsource
aspects of their business to us.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our business
depends in large part on wireless equipment manufacturers and network operators
outsourcing some of their business functions to us. We provide functions such
as distribution, inventory management, customized packaging, activation
management and other services. Certain wireless equipment manufacturers and
network operators have elected, and others may elect, to undertake these
services internally. Additionally, our customer service levels, industry
consolidation, competition, deregulation, technological changes or other
factors could reduce the degree to which members of the</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">wireless telecommunications
industry rely on outsourced services such as the services we provide. Any
significant change in the market for these services could have a material
adverse effect on our current and planned business.</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:ideograph-numeric;"><font face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We may not be able to effectively compete
in our industry if consolidation of wireless network operators continues.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The past
several years have witnessed a consolidation within the wireless network
operator community. If this trend continues, it could result in a reduction or
elimination of promotional activities by the remaining wireless network
operators as they seek to reduce their expenditures, which could, in turn,
result in decreased demand for our products or services. Moreover,
consolidation of wireless network operators reduces the number of potential
contracts available to us. We could also lose business if wireless network
operators, which currently are our customers, are acquired by other wireless
network operators which are not our customers. Wireless operators may also
change their policy regarding sales to their agents by independent
distributors, such as requiring those agents to purchase products from the
wireless operator or manufacturer, rather than from distributors such as
InfoSonics. This type of requirement could have a material adverse effect on
our business and results of operations.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our sales and inventory risk may be
materially affected by fluctuations in regional demand patterns and economic
factors for which we cannot plan.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The demand for
our products and services has fluctuated and may continue to vary substantially
within the regions served by us. We believe the roll-out of third generation,
or 3G, cellular telephone systems and other new technologies, which has been
delayed and could further be delayed, has had and will continue to have an
effect on overall subscriber growth and handset replacement demand. Economic
slow-downs in regions served by us or changes in promotional programs offered
by wireless network operators may lower consumer demand for our products and create
higher levels of inventories which could decrease our gross and operating
margins. We could face a substantial inventory risk due to depreciation and
equipment price erosion if our products are not sold in a timely manner. We
believe our operations were adversely affected by an economic slow-down in the
United States starting in the fourth quarter of 2000. A prolonged economic
slow-down in the United States or any other regions in which we have
significant operations could negatively impact our results of operations and
financial position.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We may not be able to adequately respond to
rapid technological changes in the wireless telecommunications industry, which
could cause us to lose customers.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The technology
relating to wireless telecommunications equipment changes rapidly resulting in
product obsolescence or short product life cycles. We are required to
anticipate future technological changes in our industry and to continually
identify, obtain and market new products in order to satisfy evolving industry
and customer requirements. Competitors or manufacturers of wireless equipment
may market products which have perceived or actual advantages over products
that we handle or which otherwise render those products obsolete or less
marketable. We have made and continue to make significant capital investments
in accordance with evolving industry and customer requirements including
maintaining levels of inventories of currently popular products that we believe
are necessary based on current market conditions. This utilization of capital
for inventory buildup of this nature increases our risk of loss due to product
obsolescence.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Substantial defaults by our customers on
accounts receivables could have a significant negative impact on our cash flow
and financial condition.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We currently
offer and intend to offer open account terms to certain of our customers, which
may subject us to credit risks, particularly to the extent that our receivables
represent sales to a limited number of customers or are concentrated in
particular geographic markets. Although we have an accounts receivable
insurance policy, this policy carries a substantial deductible and may not
cover us in all instances. We also have an accounts receivable credit facility
in order to reduce our working capital requirements. The extent of our ability
to use our accounts receivable credit facility is dependent on the amount of
and collection cycle of our accounts receivable. Adverse changes in our ability
to use accounts receivable financing could have a material adverse effect on
our financial position, cash flows and results of operations.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We rely on our suppliers to provide trade
credit facilities to adequately fund our on-going operations and product
purchases, and without those facilities, our ability to procure products could
be reduced.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our business is
dependent on our ability to obtain adequate supplies of currently popular
products on favorable pricing and other terms. Our ability to fund our product
purchases is dependent on our principal suppliers providing favorable payment
terms that allow us to maximize the efficiency of our capital usage. The
payment terms we receive from our suppliers are dependent on several factors,
including, but not limited to, our payment history with the supplier, the
suppliers&#146; credit granting policies, contractual provisions, our overall credit
rating as determined by various credit rating agencies, industry conditions,
our recent operating results, financial position and cash flows and the
supplier&#146;s ability to obtain credit insurance on amounts that we owe them.
Adverse changes in any of these factors, certain of which may not be wholly in
our control, could have a material adverse effect on our operations.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Approximately 84% and 68% of our revenues
during the three and nine months ended September&nbsp;30, 2005, respectively,
were generated outside of the United States in countries that may have
political or other risks.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We engage in
sales activities in territories and countries outside of the United States. The
fact that we distribute products into a number of countries exposes us to
increased credit risks, customs duties, import quotas and other trade
restrictions, potentially greater inflationary pressures, and shipping delays.
Changes may occur in social, political, regulatory and economic conditions or
in laws and policies governing foreign trade and investment in the territories
and countries where we currently distribute products. United States laws and
regulations relating to investment and trade in foreign countries could also
change to our detriment. Any of these factors could have a material adverse
effect on our business and operations. Although we purchase and sell products
and services in United States dollars and do not engage in exchange swaps,
futures or options contracts or other hedging techniques, fluctuations in
currency exchange rates could reduce demand for products sold in United States
dollars. We cannot predict the effect that future exchange rate fluctuations
will have on our operating results. We may in the future engage in currency
hedging transactions, which could result in our incurring significant
additional losses.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We rely on our information system
technology to function efficiently, without interruptions, and if it does not,
customer relationships could be harmed.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have focused
on the application of our information system technology to provide customized
services to wireless communications equipment manufacturers and network
operators. Our ability to meet our customers&#146; technical and performance
requirements is highly dependent on the effective functioning</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of our information technology
systems, which may experience interruptions. These business interruptions could
cause us to fall below acceptable performance levels pursuant to our customers&#146;
requirements and could result in the loss of the related business relationship.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We have outstanding indebtedness, which is
secured by substantially all our assets and which could prevent us from
borrowing additional funds, if needed.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have a bank
line of credit which is based on accounts receivable. If we violate our loan
covenants, default on our obligations or become subject to a change of control,
our indebtedness would become immediately due and payable. Our credit facility
is secured by substantially all of our assets and borrowing availability is
based primarily on a percentage of eligible accounts receivable. Consequently,
any significant decrease in eligible accounts receivable will limit our ability
to borrow additional funds to adequately finance our operations and expansion
strategies. The terms of our credit facility could substantially prohibit us
from incurring additional indebtedness, which could limit our ability to expand
our operations. The terms of our credit facility also include negative
covenants that, among other things, limit our ability to sell certain assets
and make certain payments, including but not limited to, dividends, repurchases
of common stock and other payments outside the normal course of business as
well as prohibiting us from merging or consolidating with another corporation
or selling all or substantially all of our assets. The facility expires
October&nbsp;2006.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">The wireless telecommunications industry is
intensely competitive and we may not be able to continue to compete against
well-established competitors with greater financial and other resources.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We compete for
sales of wireless telecommunications equipment and accessories, and expect that
we will continue to compete, with numerous well-established wireless network
operators, distributors and manufacturers, including our own suppliers. Many of
our competitors possess greater financial and other resources than we do and
may market similar products&nbsp;or services directly to our customers.
Distribution of wireless telecommunications equipment and accessories has
generally had low barriers to entry. As a result, additional competitors may
choose to enter our industry in the future. The markets for wireless handsets
and accessories are characterized by intense price competition and significant
price erosion over the life of a product. Many of our competitors have the
financial resources to withstand substantial price competition and to implement
extensive advertising and promotional programs, both generally and in response
to efforts by additional competitors to enter into new markets or introduce new
products. Our ability to continue to compete successfully will depend largely
on our ability to maintain our current industry relationships. We may not be
successful in anticipating and responding to competitive factors affecting our
industry, including new or changing outsourcing requirements, the entry of
additional well-capitalized competitors, new products which may be introduced,
changes in consumer preferences, demographic trends, international, national,
regional and local economic conditions and competitors&#146; discount pricing and
promotion strategies. As wireless telecommunications markets mature and as we
seek to enter into new markets and offer new products in the future, the
competition that we face may change and grow more intense.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our continued growth depends on retaining
our current key employees and attracting additional qualified personnel, and we
may not be able to continue to do so.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our success
depends in large part on the abilities and continued service of our executive
officers and other key employees, particularly Joseph Ram, our Chief Executive
Officer. Although we have entered into employment agreements with several of
our officers and employees, including Mr.&nbsp;Ram, we may not be able to
retain their services under applicable law. The loss of executive officers or
other key personnel could have a material adverse effect on us. In addition, in
order to support our continued growth, we will be required to effectively
recruit, develop and retain additional qualified management. If</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">we are unable to attract and
retain additional necessary personnel, it could delay or hinder our plans for
growth.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We rely on trade secret laws and agreements
with our key employees and other third parties to protect our proprietary
rights, and there is no assurance that these laws or agreements adequately
protect our rights.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We rely on
trade secret laws to protect our proprietary knowledge, particularly our
database of customers and suppliers and business terms such as pricing. In
general, we also have non-disclosure agreements with our key employees and
limit access to and distribution of our trade secrets and other proprietary
information. These measures may prove difficult to enforce and may not prove
adequate to prevent misappropriation of our proprietary information.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">We may become subject to suits alleging
medical risks associated with our wireless handsets, and the cost of these
suits could be substantial, and divert funds from our business.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lawsuits or
claims have been filed or made against manufacturers of wireless handsets over
the past years alleging possible medical risks, including brain cancer,
associated with the electromagnetic fields emitted by wireless communications
handsets. There has been only limited relevant research in this area, and this
research has not been conclusive as to what effects, if any, exposure to
electromagnetic fields emitted by wireless handsets has on human cells.
Substantially all of our revenues are derived, either directly or indirectly,
from sales of wireless handsets. We may become subject to lawsuits filed by
plaintiffs alleging various health risks from our products. If any future
studies find possible health risks associated with the use of wireless handsets
or if any damages claim against us is successful, it could have a material adverse
effect on our business. Even an unsubstantiated perception that health risks
exist could adversely affect our ability or the ability of our customers to
market wireless handsets.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Risks Related To This Prospectus and Our Common Stock</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Stockholders may be diluted as a result of
future offerings or other financings.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We may need to
raise additional capital through one or more future public offerings, private
placements or other financings involving our securities. We recently raised
approximately $14,400,000 of gross proceeds through the sale of 1,100,000
shares of our common stock and warrants to purchase 330,000 shares of common
stock pursuant to a private offering which was made to accredited and
institutional investors. As a result of this financing and any future
financings, none of which is currently planned, ownership interests in our
company may be greatly diluted.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our common stock, and our stock price could
be volatile and could decline, resulting in a substantial loss on your
investment.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to our
initial public offering in June&nbsp;2004, there was not a public market for
our common stock. An active trading market for our common stock may never
develop or be sustained, which could affect the ability of our stockholders to
sell their shares and could depress the market price of their shares. The stock
market in general and the market for telecommunications-related stocks in
particular, has been highly volatile. As a result, the market price of our
common stock is likely to be similarly volatile, and in fact has been unusually
volatile during the ninety days preceeding the date of this prospectus, and
investors in our common stock may experience a decrease in the value of their
stock, including decreases unrelated to our operating performance or prospects.
The price of our common stock could be subject to wide fluctuations in response
to a number of factors, including those listed in this &#145;&#145;Risk Factors&#146;&#146;
section.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In the past, securities class
action litigation has often been instituted against companies following periods
of volatility in their stock price. This type of litigation against us could
result in substantial costs and divert our management&#146;s attention and
resources.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Shares of common stock that are issuable
pursuant to our stock option plans and our outstanding warrants, when issued,
could result in dilution to existing stockholders and could cause the market
price of our common stock to fall.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have
reserved shares of common stock that may be issuable pursuant to our stock
option plans and our outstanding options outside those plans. These securities,
when issued and outstanding, may reduce earnings per share under accounting
principles generally accepted in the United States of America and, to the
extent that they are exercised and shares of common stock are issued, dilute
percentage ownership to existing stockholders which could have an adverse
effect on the market price of our common stock.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:ideograph-numeric;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">The ability of our stockholders to control
our policies or effect a change in control of our company is limited, which may
not be in our stockholders&#146; best interests.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Some provisions
of our charter and bylaws and the General Corporation Law of Maryland, where we
are incorporated, may delay or prevent a change in control of our company or
other transactions that could provide our common stockholders with a premium
over the then-prevailing market price of our common stock or that might
otherwise be in the best interests of our stockholders. These include the
ability of our Board of Directors to authorize the issuance of preferred stock
without stockholder approval, which preferred stock may have voting provisions
that could delay or prevent a change in control or other transaction that might
involve a premium price or otherwise be in the best interests of our
stockholders. Maryland law imposes restrictions on some business combinations
and requires compliance with statutory procedures before some mergers and
acquisitions can occur. These provisions of Maryland law may have the effect of
discouraging offers to acquire us even if the acquisition would be advantageous
to our stockholders.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Our chief executive officer beneficially owns
approximately 37.55% of our outstanding common stock and might be able to influence
the Company to pursue strategic interests which are not consistent with the
interests of other stockholders.</font></i></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our Chief
Executive Officer, who is also our largest stockholder, beneficially owns
approximately 37.55% of our outstanding common stock.&#160; It is possible that he may be able to
exercise control over many matters requiring approval by the board of directors
or our stockholders by virtue of his holdings.&#160;
As a result, he may be able to:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:ideograph-numeric;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Control
the composition of our board of directors;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:ideograph-numeric;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Determine
the outcome of significant corporate transactions, including changes in control
that may be beneficial to stockholders; and</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-autospace:ideograph-numeric;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Act
in his own interest, which may conflict with, or be different from, the
interests of the other stockholders.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="CautionaryStatementRegardingForwa_143946"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
prospectus and the materials incorporated herein by reference contain
forward-looking statements, including statements regarding, among other items, </font>known or unknown risks,
uncertainties and other factors that may cause the actual results, performance,
or achievements of InfoSonics to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Specifically, 1)&nbsp;the actions of competitors
and customers and our ability to execute our business plans; and 2)&nbsp;our
ability to increase revenues and operating income is dependent upon our ability
to continue to expand our current businesses and to enter new business areas,
general economic conditions, and other factors. You can identify
forward-looking statements by terminology such as &#147;may,&#148; &#147;will,&#148; &#147;should,&#148; &#147;expects,&#148;
&#147;intends,&#148; &#147;plans,&#148; &#147;anticipates,&#148; &#147;believes,&#148; &#147;estimates,&#148; &#147;predicts,&#148; &#147;potential,&#148;
&#147;continues&#148; or the negative of these terms or other comparable terminology.
Although we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="UseOfProceeds_160946"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">USE OF PROCEEDS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Selling
Stockholders will be selling all of the shares under this prospectus in the
Offering.&#160; The proceeds from the sale of
the shares will be received directly by the Selling Stockholders.&#160; We will receive no proceeds from the sale of
the shares offered by Selling Stockholders under this prospectus.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="DividendPolicy_160949"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">DIVIDEND POLICY</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have never paid
cash dividends and have no plans to do so in the foreseeable future.&#160; Our future dividend policy will be determined
by our board of directors and will depend upon a number of factors, including
our financial condition and performance, our cash needs and expansion plans,
income tax consequences, and the restrictions that applicable laws, our current
preferred stock instruments, and our future credit arrangements may then impose.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="SellingStockholders_160953"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SELLING
STOCKHOLDERS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities are being offered by the named selling
security holders below.&#160; The table below
assumes the immediate exercise of all warrants to purchase Common Stock,
without regard to other factors that may determine whether such rights of
conversion or purchase are exercised.&#160;
These factors include but are not limited to the other rights associated
with the terms of the warrant agreements, and the specific exercise price of
the securities held by each selling security holder and its relation to the
market price.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling security holders may from time to time
offer and sell pursuant to this prospectus up to an aggregate of: (i) 1,100,000
shares of our Common Stock now owned by them; (ii) 330,000 shares of Common
Stock issuable to them upon the exercise, at $18.38 per share, of the Private
Placement Warrants; (iii) 22,000 shares of Common Stock issuable to the
Placement Agents, upon the exercise, at $13.76 per share, of Placement Agent
Warrants; and (iv) 6,600 shares of Common Stock issuable to the Placement
Agents, upon the exercise, at $19.30 per share, of Placement Agent
Warrants.&#160; The selling security holders
may, from time to time, offer and sell any or all of the shares that are registered
under this prospectus, although they are not obligated to do so.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
have been advised, as noted below in the footnotes to the table, two of the
selling stockholders are broker-dealers and four of the selling stockholders
are affiliates of broker-dealers.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We do not know when or in what amounts the selling security holders may
offer the shares described in this Prospectus for sale.&#160; The selling security holders may decide not
to exercise any warrants or sell any of the shares that this Prospectus covers.&#160; Because the selling security holders may
offer all or some of the shares pursuant to this Prospectus, and because there
are currently no agreements, arrangements or understandings with respect to the
sale of any of the shares that the selling security holders will hold after
completion of the Offering, we cannot estimate the number of the shares that
the</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">selling security holders will hold after completion of the
Offering.&#160; However, for purposes of the
following tables, we have assumed that, after completion of the Offering, the
selling security holders will hold none of the securities that this Prospectus
covers.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following table sets forth, to the Company&#146;s best
knowledge and belief, with respect to the selling security holders:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.3in;text-align:left;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the number of shares of common
stock beneficially owned as of February 8, 2006 and prior to the offering
contemplated hereby,</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.3in;text-align:left;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the number of shares of common
stock eligible for resale and to be offered by each selling security holder
pursuant to this prospectus,</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.3in;text-align:left;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the number of shares owned by
each selling security holder after the offering contemplated hereby, assuming
that all shares eligible for resale pursuant to this prospectus actually are
sold,</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.3in;text-align:left;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the percentage of shares of
common stock beneficially owned by each selling security holder after the
offering contemplated hereby, and</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="font-size:10.0pt;margin:0in 0in .0001pt 1.3in;text-align:left;text-indent:-.3in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>in notes to the table,
additional information concerning the selling security holders, including any
NASD affiliations and any relationships, excluding non-executive employee and
other non-material relationships, that a selling security holder had during the
past three years with the registrant or any of its predecessors or affiliates.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="211" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Selling Stockholders (A)</font></b></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="131" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number of Shares of <br>
  Common Stock Owned <br>
  Before Offering (B)</font></b></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="133" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number of Shares To Be<br>
  Offered (C)</font></b></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number <br>
  of Shares <br>
  Owned <br>
  After<br>
  Offering</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage<br>
  of <br>
  Outstanding <br>
  Shares of <br>
  Common <br>
  Stock <br>
  Owned <br>
  After <br>
  Offering</font></b></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Castlerigg Master Investments Ltd. (1)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">162,500</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">162,500</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Truk International Fund, LP (2)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,775</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,775</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Truk Opportunity Fund, LLC (3)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">147,225</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">147,225</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Radcliffe SPC, Ltd. for and on behalf of
  the Class A Convertible Crossover Segregated Portfolio (4)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">130,000</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">130,000</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UBS O&#146;Connor LLC f/b/o O&#146;Connor PIPES
  Corporate Strategies Master Limited (5)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">130,000</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">130,000</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nite Capital, L.P. (6)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">130,000</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">130,000</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capital Ventures International (7)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">97,500</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">97,500</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cranshire Capital, L.P.(8)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">65,000</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">65,000</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Enable Growth Partners LP (9)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">66,430</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">66,430</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Enable Opportunity Partners LP (10)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,920</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,920</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pierce Diversified Strategy Master Fund
  (11)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,650</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13,650</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telluride Capital Master Fund Ltd. (12)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">87,750</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">87,750</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DBZ Acquisition Partners II, LLC (13)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">78,000</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">78,000</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DKR SoundShore Oasis Holding Fund Ltd.(14)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">74,750</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">74,750</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Colonial Fund, LLC (15)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45,500</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45,500</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Omicron Master Trust (16)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45,500</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45,500</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basso Fund Ltd. (17)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,630</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,630</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" style="border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basso Multi-Strategy Holding Fund Ltd. (18)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24,570</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24,570</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="211" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:2.2in;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Basso Private Opportunities Holding Fund
  Ltd. (19)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:10.35pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="131" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:98.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,800</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:13.05pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="133" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.0pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,800</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="212" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Selling Stockholders (A)</font></b></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="129" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number of Shares of <br>
  Common Stock Owned <br>
  Before Offering (B)</font></b></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="135" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number of Shares To Be <br>
  Offered (C)</font></b></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number <br>
  of Shares <br>
  Owned <br>
  After<br>
  Offering</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage<br>
  of <br>
  Outstanding <br>
  Shares of <br>
  Common <br>
  Stock <br>
  Owned <br>
  After <br>
  Offering</font></b></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="212" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CAMOFI Master, LDC (20)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="129" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26,000</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="135" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26,000</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="212" valign="top" style="border:none;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">JGB Capital LP (21)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="129" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19,500</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="135" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19,500</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="212" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Iroquois Master Fund Ltd. (22)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="129" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52,000</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="135" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">52,000</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="212" valign="top" style="border:none;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SG Cowen &amp; Co., LLC (23)</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="129" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24,310</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="135" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24,310</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="212" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Montgomery 2006-1 Partnership (24)</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="129" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,290</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="135" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,290</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&#151;</font></b></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="212" valign="top" style="border:none;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="129" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="135" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="14" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="212" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:158.85pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TOTAL</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="129" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:96.75pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,458,600</font></p>
  </td>
  <td width="17" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:12.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="135" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:100.9pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,458,600</font></p>
  </td>
  <td width="12" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.1pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="87" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:65.3pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="14" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:.15in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(A) It is our
understanding that any selling security holder that is an affiliate of a
broker-dealer purchased the securities offered hereunder in the ordinary course
of business, and at the time of the purchase, had no agreements or
understanding to distribute the securities.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(B) Includes
shares underlying warrants held by the selling security holder that are covered
by this prospectus.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(C) The number
of shares of common stock to be sold assumes that the selling security holder
elects to sell all the shares of common stock held by the selling security
holder that are covered by this prospectus.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Sandell Asset Management Corp. (&#147;SAMC&#148;), is
the investment manager of Castlerigg Master Investments Ltd. (&#147;Master&#148;).&#160; Thomas Sandell is the controlling person of
SAMC and may be deemed to share beneficial ownership of the shares beneficially
owned by Master.&#160; Castlerigg
International Ltd. (&#147;Castlerigg International&#148;) is the controlling shareholder
of Castlerigg International Holdings Limited (&#147;Holdings&#148;).&#160; Holdings is the controlling shareholder of
Master.&#160; Each of Holdings and Castlerigg
International may be deemed to share beneficial ownership of the shares
beneficially owned by Master.&#160; SAMC, Mr.
Sandell, Holdings and Castlerigg International each disclaims beneficial
ownership of the securities owned by Master described above. Includes 125,000
shares of common stock and warrants to acquire 37,500 shares of our common
stock at an exercise price of $18.38 per share, which become exercisable on
August 2, 2006 and which terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Michael E. Fein and Stephen E. Saltzstein, as
principals of Atoll Asset Management LLC, the Managing Member of Truk
International Fund, LP, exercise investment and voting control over the
securities owned by Truk International Fund, LP.&#160; Both Mr. Fein and Mr. Saltzstein disclaim
beneficial ownership of the securities owned by Truk International Fund,
LP.&#160; Includes 6,750 shares of common
stock and warrants to acquire 2,025 shares of our common stock at an exercise
price of $18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Michael E. Fein and Stephen E. Saltzstein, as
principals of Atoll Asset Management LLC, the Managing Member of Truk
Opportunity Fund, LLC, exercise investment and voting control over the
securities owned by Truk Opportunity Fund, LLC.&#160;
Both Mr. Fein and Mr. Saltzstein disclaim beneficial ownership of the
securities owned by Truk Opportunity Fund, LLC Includes 113,250 shares of
common stock and warrants to acquire 33,975 shares of our common stock at an
exercise price of $18.38 per share, which become exercisable on August 2, 2006
and which terminate on February 2, 2010.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pursuant to an investment management
agreement, RG Capital Management, L.P., (&#147;RG Capital&#148;) serves as the investment
manager of Radcliffe SPC, Ltd.&#146;s Class A Convertible Crossover Segregated
Portfolio.&#160; RGC Management Company, LLC (&#147;Management&#148;)
is the general partner of RG Capital.&#160;
Steve Katznelson and Gerald Stahlecker serve as the managing members of
Management.&#160; Each of RG Capital,
Management, and Messrs. Katznelson and Stahlecker disclaims beneficial
ownership of the securities owned by Radcliffe SPC, Ltd. for and on behalf of
the Class A Convertible Crossover Segregated Portfolio. Includes 100,000 shares
of common stock and warrants to acquire 30,000 shares of our common stock at an
exercise price of $18.38 per share, which become exercisable on August 2, 2006
and which terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Includes 100,000 shares of common stock and
warrants to acquire 30,000 shares of our common stock at an exercise price of
$18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(6)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Keith Goodman, Manager of the General Partner
of Nite Capital LP, has voting and investment power over the shares owned by
Nite Capital LP.&#160; Mr. Goodman disclaims
beneficial ownership in the shares held by Nite Capital LP.&#160; Includes 100,000 shares of common stock and
warrants to acquire 30,000 shares of our common stock at an exercise price of
$18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(7)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Capital Ventures International is affiliated
with one or more registered broker-dealers. Capital Ventures International purchased
the shares being registered hereunder in the ordinary course of business and at
the time of purchase, had no agreements or understandings, directly or
indirectly, with any other person to distribute such shares. Includes 75,000
shares of common stock and warrants to acquire 22,500 shares of our common stock
at an exercise price of $18.38 per share, which become exercisable on August 2,
2006 and which terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(8)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Includes 50,000 shares of common stock and
warrants to acquire 15,000 shares of our common stock at an exercise price of
$18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.&#160; Mitchell
P. Kopin, President of Downsview Capital, Inc., the General Partner of
Cranshire Capital, L.P. has sole voting and investment power over the shares
owned by Chanshire Capital, L.P.&#160;
Mitchell P. Kopin and Downsview Capital, Inc. disclaim beneficial
ownership of the shares held by Cranshire Capital, L.P.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(9)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Enable Growth Partners LP is affiliated with
Enable Capital LLC, a registered broker-dealer. &#160;Mitch Levine is the Managing Member of Enable
Capital LLC and is also a principal in Enable Growth Partners LP&#146;s general
partner.&#160; Enable Growth Partners L.P.
purchased the securities described above for the sole benefit of the fund&#146;s
limited partners, and with no pre-existing, current or future intent to
distribute the Company&#146;s securities through Enable Capital LLC.&#160; Enable Growth Partners L.P. acquired the
securities in the ordinary course of business and, at the time of acquisition,
had no agreements, understandings or arrangements with any other persons,
directly or indirectly, to dispose of the securities.&#160; Enable Capital LLC maintains no direct or
client accounts.&#160; Includes 51,100 shares
of common stock and warrants to acquire 15,330 shares of our common stock at an
exercise price of $18.38 per share, which become exercisable on August 2, 2006
and which terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(10)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Enable Opportunity Partners LP is affiliated with
Enable Capital LLC, a registered broker-dealer.&#160;
Mitch Levine is the Managing Member of Enable Capital LLC and is also a
principal in Enable Opportunity Partners LP&#146;s general partner.&#160; Enable Opportunities Partners L.P. purchased
the securities described above for the sole benefit of the fund&#146;s limited
partners, and with no pre-existing, current or future intent to distribute the
Company&#146;s securities through Enable Capital LLC.&#160; Enable Opportunities Partners L.P. acquired
the securities in the ordinary course of business and, at the time of
acquisition, had no agreements, understandings or arrangements with any other
persons, directly or indirectly, to dispose of the securities.&#160; Enable Capital LLC maintains no direct or
client accounts. Includes 8,400 shares of common stock and warrants to acquire
2,520 shares of our common stock at an exercise price of $18.38 per share,
which become exercisable on August 2, 2006 and which terminate on February 2,
2010.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(11)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Pierce Diversified Strategy Master Fund LLC is
affiliated with Enable Capital LLC, a registered broker-dealer.&#160; Mitch Levine is the Managing Member of Enable
Capital LLC and is also a principal in Pierce Diversified Strategy Master Fund
LLC&#146;s general partner.&#160; Pierce
Diversified Strategy Master Fund LLC purchased the securities described above
for the sole benefit of the fund&#146;s limited partners, and with no pre-existing,
current or future intent to distribute the Company&#146;s securities through Enable
Capital LLC.&#160;&#160; Pierce Diversified
Strategy Master Fund LLC acquired the securities in the ordinary course of
business and, at the time of acquisition, had no agreements, understandings or
arrangements with any other persons, directly or indirectly, to dispose of the
securities.&#160; Enable Capital LLC maintains
no direct or client accounts. Includes 10,500 shares of common stock and
warrants to acquire 3,150 shares of our common stock at an exercise price of
$18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(12)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Includes 67,500 shares of our common stock held by
Telluride Capital Master Fund Ltd., and 20,250 shares of our common stock
issuable upon the exercise of warrants held by Telluride Capital Master Fund
Ltd.&#160; The warrants, which have an
exercise price of $18.38 per share, become exercisable on August 2, 2006 and
terminate on February 2, 2010.&#160; Telluride
Capital Master Fund Ltd, a Cayman Islands company, is a private investment fund
that is owned by all of its investors and is managed by Telluride Asset
Management LLC.&#160; Telluride Asset
Management LLC, whose sole member is Peter Hajas, has voting and investment
control over the shares that are owned by Telluride Capital Master Fund
Ltd.&#160; Peter Hajas and Telluride Asset
Management LLC disclaim beneficial ownership of the shares held by Telluride
Capital Master Fund Ltd. The address for Telluride Asset Management LLC is 1000
Parkers Lake Road, Wayzata, Minnesota 55391.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(13)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Includes 60,000 shares of common stock and warrants
to acquire 18,000 shares of our common stock at an exercise price of $18.38 per
share, which become exercisable on August 2, 2006 and which terminate on
February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(14)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>The investment manager of DKR SoundShore Oasis
Holding Fund Ltd. (the &#147;Fund&#148;) is DKR Oasis Management Company LP (the &#147;Investment
Manager&#148;).&#160; The Investment Manager has
the authority to do any and all acts on behalf of the Fund, including voting
any shares held by the Fund.&#160; Mr. Seth
Fischer is the managing partner of Oasis Management Holdings LLC, one of the
general partners of the Investment Manager.&#160;
Mr. Fischer has ultimate responsibility for trading with respect to the
Fund.&#160; Mr. Fischer disclaims beneficial
ownership of the shares.&#160; Includes 57,500
shares of common stock and warrants to acquire 17,250 shares of our common
stock at an exercise price of $18.38 per share, which become exercisable on
August 2, 2006 and which terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(15)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Includes 35,000 shares of common stock and warrants
to acquire 10,500 shares of our common stock at an exercise price of $18.38 per
share, which become exercisable on August 2, 2006 and which terminate on
February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(16)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Omicron Capital, L.P., a Delaware limited
partnership (&#147;Omicron Capital&#148;), serves as investment manager to Omicron Master
Trust, a trust formed under the laws of Bermuda (&#147;Omicron&#148;), Omicron Capital,
Inc., a Delaware corporation (&#147;OCI&#148;), serves as general partner of Omicron
Capital, and Winchester Global Trust Company Limited (&#147;Winchester&#148;) serves as
the trustee of Omicron.&#160; By reason of
such relationships, Omicron Capital and OCI may be deemed to share dispositive
power over the shares of our common stock owned by Omicron, and Winchester may
be deemed to share voting and dispositive power over the shares of our common
stock owned by Omicron.&#160; Omicron Capital,
OCI and Winchester disclaim beneficial ownership of such shares of our common
stock.&#160; Omicron Capital has delegated
authority from the board of directors of Winchester regarding the portfolio
management decisions with respect to the shares of common stock owned by
Omicron and, as of<b><font style="font-weight:bold;"> </font></b>February 8, 2006, Mr. Olivier H.
Morali and Mr. Bruce T. Bernstein, officers of OCI, have delegated authority
from the board of directors of OCI regarding the portfolio management decisions
of Omicron Capital with respect to the shares of common stock owned by
Omicron.&#160; By reason of such delegated
authority, Messrs. Morali and Bernstein may be deemed to share dispositive
power over the shares of our common stock owned by Omicron.&#160; Messrs. Morali and Bernstein disclaim beneficial
ownership of such shares of our common stock and neither of such persons has
any legal right to maintain such delegated authority.&#160; No other person has sole or shared voting or
dispositive power with respect to the shares of our common stock being offered
by Omicron, as those terms are used for purposes under Regulation 13D-G of the
Securities Exchange Act of 1934, as amended. Omicron and</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

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</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Winchester are not &#147;affiliates&#148; of one another, as that term is used
for purposes of the Securities Exchange Act of 1934, as amended, or of any
other person named in this prospectus as a selling stockholder.&#160; No person or &#147;group&#148; (as that term is used in
Section 13(d) of the Securities Exchange Act of 1934, as amended, or the SEC&#146;s
Regulation 13D-G) controls Omicron and Winchester.&#160; Includes 35,000 shares of common stock and
warrants to acquire 10,500 shares of our common stock at an exercise price of
$18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(17)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Basso Capital Management, L.P. (&#147;Basso&#148;) is the
Investment Manager to Basso Fund Ltd.&#160;
Howard I.&#160; Fischer is a managing
member of Basso GP, LLC, the General Partner of Basso, and as such has
investment power and voting control over these securities.&#160; Mr. Fischer disclaims beneficial ownership of
these securities. Includes 5,100 shares of common stock and warrants to acquire
1,530 shares of our common stock at an exercise price of $18.38 per share,
which become exercisable on August 2, 2006 and which terminate on February 2,
2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(18)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Basso Capital Management, L.P. (&#147;Basso&#148;) is the
Investment Manager to Basso Multi-Strategy Holding Fund, Ltd.&#160; Howard I.&#160;
Fischer is a managing member of Basso GP, LLC, the General Partner of
Basso, and as such has investment power and voting control over these
securities.&#160; Mr. Fischer disclaims
beneficial ownership of these securities. Includes 18,900 shares of common
stock and warrants to acquire 5,670 shares of our common stock at an exercise
price of $18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(19)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Basso Capital Management, L.P. (&#147;Basso&#148;) is the
Investment Manager to Basso Private Opportunities Holding Fund, Ltd.&#160; Howard I.&#160;
Fischer is a managing member of Basso GP, LLC, the General Partner of
Basso, and as such has investment power and voting control over these
securities.&#160; Mr. Fischer disclaims
beneficial ownership of these securities. Includes 6,000 shares of common stock
and warrants to acquire 1,800 shares of our common stock at an exercise price
of $18.38 per share, which become exercisable on August 2, 2006 and which
terminate on February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(20)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Includes 20,000 shares of common stock and warrants
to acquire 6,000 shares of our common stock at an exercise price of $18.38 per
share, which become exercisable on August 2, 2006 and which terminate on
February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(21)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Includes 15,000 shares of common stock and warrants
to acquire 4,500 shares of our common stock at an exercise price of $18.38 per
share, which become exercisable on August 2, 2006 and which terminate on
February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(22)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Includes 40,000 shares of common stock and warrants
to acquire 12,000 shares of our common stock at an exercise price of $18.38 per
share, which become exercisable on August 2, 2006 and which terminate on
February 2, 2010.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(23)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font> Includes shares underlying warrants to purchase
18,700 shares at an exercise price of&#160;
$13.76 per share until February 2, 2009 and shares underlying warrants
to purchase 5,610 shares at an exercise price of&#160; $19.30 per share until February 2, 2009.&#160;&#160; SG Cowen &amp; Co., LLC (&#147;SG Cowen&#148;) acted
as the lead placement agent in the Offering and received these warrants as
compensation for services rendered.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(24)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160; </font>Includes shares underlying warrants to purchase
3,300 shares at an exercise price of $13.76 per shares until February 2, 2009
and includes shares underlying warrants to purchase 990 shares at an exercise
price of $19.30 per share until February 2, 2009.&#160; Montgomery 2006-1 Partnership is an affiliate
of Montgomery &amp; Co., LLC, who acted as a placement agent in the Offering
and received these warrants as compensation for services rendered.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="PlanOfDistribution_150242"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">PLAN OF
DISTRIBUTION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling
stockholders may, from time to time, sell any or all of their shares of common
stock on any stock exchange, market or trading facility on which the shares are
traded or in private transactions.&#160; These
sales may be at fixed or negotiated prices.&#160;
The selling stockholders may use any one or more of the following
methods when selling shares:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">ordinary brokerage transactions and transactions in which the
broker-dealer solicits purchasers;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">block trades in which the broker-dealer will attempt to sell the shares
as agent but may position and resell a portion of the block as principal to
facilitate the transaction;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">purchases by a broker-dealer as principal and resale by the
broker-dealer for its account;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">an exchange distribution in accordance with the rules of the applicable
exchange;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">privately negotiated transactions;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">short sales;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">broker-dealers may agree with the selling stockholders to sell a
specified number of such shares at a stipulated price per share;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">a combination of any such methods of sale; and</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any other method permitted pursuant to applicable law.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling stockholders
may also sell shares under Rule 144 under the Securities Act, if available,
rather than under this prospectus.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Broker-dealers
engaged by the selling stockholders may arrange for other brokers-dealers to
participate in sales.&#160; Broker-dealers may
receive commissions or discounts from the selling stockholders (or, if any
broker-dealer acts as agent for the purchaser of shares, from the purchaser) in
amounts to be negotiated.&#160; The selling
stockholders do not expect these commissions and discounts to exceed what is
customary in the types of transactions involved.&#160; Any profits on the resale of shares of common
stock by a broker-dealer acting as principal might be deemed to be underwriting
discounts or commissions under the Securities Act.&#160; Discounts, concessions, commissions and
similar selling expenses, if any, attributable to the sale of shares will be
borne by a selling stockholder.&#160; The selling
stockholders may agree to indemnify any agent, dealer or broker-dealer that
participates in transactions involving sales of the shares if liabilities are
imposed on that person under the Securities Act.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling
stockholders may from time to time pledge or grant a security interest in some
or all of the shares of common stock owned by them and, if they default in the
performance of their secured obligations, the pledgees or secured parties may
offer and sell the shares of common stock from time to time under this
prospectus after we have filed a supplement to this prospectus under Rule
424(b)(3) or other applicable provision of the Securities Act of 1933
supplementing or amending the list of selling stockholders to include the
pledgee, transferee or other successors in interest as selling stockholders
under this prospectus.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling
stockholders also may transfer the shares of common stock in other
circumstances, in which case the transferees, pledgees or other successors in
interest will be the selling beneficial owners for purposes of this prospectus
and may sell the shares of common stock from time to time under this prospectus
after we have filed a supplement to this prospectus under Rule 424(b)(3) or
other applicable provision of the Securities Act of 1933 supplementing or
amending the list of selling stockholders to include the pledgee, transferee or
other successors in interest as selling stockholders under this prospectus.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling
stockholders and any broker-dealers or agents that are involved in selling the
shares of common stock may be deemed to be &#147;underwriters&#148; within the meaning of
the Securities Act in</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">connection with such
sales.&#160; In such event, any SECs received
by such broker-dealers or agents and any profit on the resale of the shares of
common stock purchased by them may be deemed to be underwriting SECs or
discounts under the Securities Act.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are required to
pay all fees and expenses incident to the registration of the shares of common
stock.&#160; We have agreed to indemnify the
selling stockholders against certain losses, claims, damages and liabilities,
including liabilities under the Securities Act.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The selling
stockholders have advised us that they have not entered into any agreements,
understandings or arrangements with any underwriters or broker-dealers
regarding the sale of their shares of common stock, nor is there an underwriter
or coordinating broker acting in connection with a proposed sale of shares of
common stock by any selling stockholder.&#160;
If we are notified by any selling stockholder that any material
arrangement has been entered into with a broker-dealer for the sale of shares
of common stock, if required, we will file a supplement to this
prospectus.&#160; If the selling stockholders
use this prospectus for any sale of the shares of common stock, they will be
subject to the prospectus delivery requirements of the Securities Act.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
anti-manipulation rules of Regulation M under the Securities Exchange Act of 1934
may apply to sales of our common stock and activities of the selling
stockholders.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="LegalMatters_150508"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">LEGAL MATTERS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">The validity of the issuance of the shares of
common stock offered hereby and other legal matters in connection herewith have
been passed upon for us by Patton Boggs LLP.&#160;
Partners of Patton Boggs LLP own an aggregate of 22,000 shares of the
Company&#146;s common stock.</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="Experts_150522"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXPERTS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The financial statements of InfoSonics Corporation appearing in our
Annual Report on Form&nbsp;10-K for the fiscal years ended December 31,
2004 and 2003 have been audited by Singer Lewak Greenbaum &amp; Goldstein LLP,
independent auditors, as set forth in their report included in the Annual
Report and incorporated in this prospectus by reference.&#160; The foregoing financial statements are
incorporated in this prospectus by reference in reliance upon the report of the
independent auditors and upon the authority of that firm as experts in auditing
and accounting.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="SecuritiesAndExchange_150536"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECURITIES AND
EXCHANGE COMMISSION <br>
POSITION ON CERTAIN INDEMNIFICATION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The General Corporation Law of the State of Maryland (the &#147;Maryland
Code&#148;) provides for mandatory indemnification against reasonable expenses
incurred by directors and officers of a corporation in connection with an
action, suit or proceeding brought by reason of their position as a director or
officer if they are successful, on the merits or otherwise, in defense of the
proceeding. The Maryland Code also allows a corporation to indemnify directors
or officers in such proceedings if the director or officer acted in good faith,
in a manner he reasonably believed to be in or not opposed to the best
interests of the corporation, and, in the case of a criminal proceeding, he had
no reasonable cause to believe that his conduct was unlawful.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Maryland Code permits a corporation to expand the rights to indemnification by a provision in its bylaws, by an agreement, by resolution of stockholders or directors not involved in the proceeding, or otherwise. However, a corporation may not indemnify a director or officer if the</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">proceeding was one by or on
behalf of the corporation and in the proceeding the director or officer is
adjudged to be liable to the corporation. Our Bylaws provide that we are
required to indemnify our directors and officers to the fullest extent
permitted by law, including those circumstances in which indemnification would
otherwise be discretionary.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition to the general indemnification described above, we have adopted, in our articles of incorporation, a provision under the Maryland Code that eliminates and limits certain personal liability of directors and officers for monetary damages for breaches of the fiduciary duty of care.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Insofar as
indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers or persons controlling the Company pursuant to
the foregoing provisions, we have been informed that, in the opinion of the
SEC, such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="WhereYouCanFindMoreInformation_150709"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHERE
YOU CAN FIND MORE INFORMATION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">This prospectus constitutes a
part of a registration statement on Form S-3 we filed with the SEC under the
Securities Act.&#160; This prospectus does not
contain all the information set forth in the registration statement and
exhibits thereto, and statements included in this prospectus as to the content
of any contract or other document referred to are not necessarily
complete.&#160; For further information, please
review the registration statement and the exhibits and schedules filed with the
registration statement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">We are subject to the
informational requirements of the Securities Exchange Act of 1934, as amended
(the &#147;Exchange Act&#148;), and we file quarterly reports, current reports, proxy
statements and other information with the SEC in accordance with the Exchange
Act.&#160; These reports, proxy statements and
other information can be inspected and copied at the public reference
facilities maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549.&#160; In addition, these materials filed
electronically by the Company with the SEC are available at the SEC&#146;s World
Wide Web site at http://www.sec.gov.&#160; The
SEC&#146;s World Wide Web site contains reports, proxy and information statements,
and other information regarding issuers that file electronically with the
SEC.&#160; Information about the operation of
the SEC&#146;s public reference facilities may be obtained by calling the SEC at
1-800-SEC-0330.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><a name="IncorporationOfInformationWeFileW_150733"></a><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">INCORPORATION
OF INFORMATION WE FILE WITH THE SEC</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">The SEC allows us to &#147;incorporate by reference&#148;
the information we file with them, which means:&#160;
incorporated documents are considered part of this prospectus; we can
disclose important information to you by referring to those documents; and
information we file with the SEC will automatically update and supersede this
incorporated information.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">We incorporate by reference the documents listed
below, which we filed with the SEC under the Exchange Act:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our Annual
Report on Form 10-K for the fiscal year ended December 31, 2004;</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2005, June 30,
2005, and September 30, 2005, respectively;</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our Current
Reports on Form 8-K filed with the SEC on each of August 11, 2004, September
10, 2004, October 19, 2004, November 3, 2004, November 22, 2004, January 25,
2005, February 1, 2005, April 22, 2005, August 11, 2005, August 19, 2005,
August 25, 2005;</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">October 5, 2005, October 13, 2005, November 29, 2005, December 19,
2005, January 6, 2006, January 30, 2006 and February 2, 2006, respectively.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our Proxy
Statement dated July 11, 2005 concerning our Annual Meeting of Stockholders
held on August 5, 2005;</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any reports
filed under Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the date of this<font style="letter-spacing:-.1pt;"> </font>prospectus
and prior to the termination of the offering made under this<font style="letter-spacing:-.1pt;"> </font>prospectus; and</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;letter-spacing:-.1pt;">&#149;</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
description of our common stock contained in our Form S-1 (File No. 333-112339)
filed with the SEC on January 30, 2004 and as subsequently amended on each of
March 26, 2004, April 16, 2004, May 10, 2004, May 13, 2004, May 19, 2004 and
May 20, 2004.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;letter-spacing:-.1pt;">We will provide without charge
to each person, including any beneficial owner, to whom a copy of this
prospectus has been delivered, upon written or oral request, a copy of any or
all of the documents referred to above that have been incorporated in this
prospectus by reference but not delivered with this prospectus.&#160; Requests for copies should be directed to
Jeffrey Klausner, InfoSonics Corporation, </font>&#160;5880 Pacific Center Blvd, San Diego, CA&#160; 92121<font style="letter-spacing:-.1pt;">,
telephone (858) 373-1600.</font></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PART II<br>
INFORMATION NOT REQUIRED IN PROSPECTUS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item
14.&#160; Other Expenses of Issuance and
Distribution</font></u><font size="2" style="font-size:10.0pt;">.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following is an itemization of all expenses
(subject to future contingencies) incurred or to be incurred by the Registrant
in connection with the registration of the securities being offered.&#160; The selling stockholders will not pay any of
the following expenses.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0" width="50%" style="border:none;border-collapse:collapse;margin-left:1.5in;width:50.0%;">
 <tr>
  <td width="233" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:174.8pt;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Type of Expense</font></b></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="104" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:77.95pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Amount</font></b></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.6pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="233" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:174.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registration Fees</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="95" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:70.95pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,119</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="233" valign="top" style="border:none;padding:0in 0in 0in 0in;width:174.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Transfer Agent Fees</font></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="95" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:70.95pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,000</font></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="233" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:174.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Costs of Printing and Engraving</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="95" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:70.95pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,500</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="233" valign="top" style="border:none;padding:0in 0in 0in 0in;width:174.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Legal Fees</font></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="95" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:70.95pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="233" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:174.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accounting Fees</font></p>
  </td>
  <td width="10" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="95" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:70.95pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,000</font></p>
  </td>
  <td width="13" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0in 0in 0in 0in;width:9.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
  </td>
 </tr>
 <tr>
  <td width="233" valign="top" style="border:none;padding:0in 0in 0in 0in;width:174.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="10" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.65pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:7.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="95" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:70.95pt;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20,619</font></p>
  </td>
  <td width="13" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:9.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*estimated</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item
15.&#160; Indemnification of Directors and
Officers</font></u><font size="2" style="font-size:10.0pt;">.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The General
Corporation Law of the State of Maryland allows corporations to indemnify any
person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action or suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that he or she
is or was a director, officer, employee or agent of the corporation or is or
was serving at the request of the corporation as a director, officer, employee,
partner, trustee, or agent of another</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-1</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">corporation, partnership, joint venture, trust, other enterprise or
employee benefit plan, unless it is established that:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
act or omission was material to the matter giving rise to the proceeding and
either was committed in bad faith or was the result of active and deliberate
dishonesty;</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
person actually received an improper personal benefit in money, property or
services; or</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">in the case of any criminal proceeding, the person had reasonable cause to believe that the act or omission was unlawful.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under
Maryland law, indemnification may be provided against judgments, penalties,
fines, settlements and reasonable expenses actually incurred by the person in
connection with the proceeding. The indemnification may be provided, however,
only if authorized for a specific proceeding after a determination has been made
that indemnification is permissible under the circumstances because the person
met the applicable standard of conduct. This determination is required to be
made:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>by
the board of directors by a majority vote of a quorum consisting of directors
not, at the time, parties to the proceeding or, if a quorum cannot be obtained,
then by a majority vote of a committee of the board consisting solely of two or
more directors not, at the time, parties to the proceeding and who a majority
of the board of directors designated to act in the matter;</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>by
special legal counsel selected by the board or board committee by the vote set
forth above, or, if such vote cannot be obtained, by a majority of the entire
board; or</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>by
the stockholders.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the proceeding is
one by or in the right of the corporation, indemnification may not be provided
as to any proceeding in which the person is found liable to the corporation.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A Maryland corporation
may pay, before final disposition, the expenses, including attorneys&#146; fees, incurred
by a director, officer, employee or agent in defending a proceeding. Under
Maryland law, expenses may be advanced to a director or officer when the
director or officer gives a written affirmation of his or her good faith belief
that he or she has met the standard of conduct necessary for indemnification
and a written undertaking to the corporation to repay the amounts advanced if
it is ultimately determined that he or she is not entitled to indemnification.
Maryland law does not require that the undertaking be secured, and the
undertaking may be accepted without reference to the financial ability of the
director or officer to repay the advance. A Maryland corporation is required to
indemnify the reasonable expenses of any director who has been successful, on
the merits or otherwise, in defense of a proceeding. The determination as to
reasonableness of expenses is required to be made in the same manner as
required for indemnification.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Under Maryland law,
the indemnification and advancement of expenses provided by statute are not
exclusive of any other rights to which a person who is not a director seeking
indemnification or advancement of expenses may be entitled under any charter,
bylaw, agreement, vote of stockholders, vote of directors or otherwise.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our
Articles of Incorporation provide that we shall indemnify each director or
officer:</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-2</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">to the
fullest extent permitted by the General Corporation Law of the State of
Maryland, or any similar provision or provisions of applicable law at the time
in effect, in connection with any threatened, pending or completed action, suit
or proceeding, whether civil, criminal, administrative or investigative, by
reason of the fact that he or she is or was at any time a director or officer,
or is or was at any time serving at our request as a director, officer,
employee, agent or trustee of another corporation, partnership, limited
liability company, joint venture, trust, other enterprise or employee benefit
plan; and</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">to the
fullest extent permitted by the common law and by any statutory provision other
than the General Corporation Law of the State of Maryland in connection with
any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that he or she
is or was at any time a director or officer, or is or was at any time serving
at our request as a director, officer, employee, agent or trustee of another
corporation, partnership, limited liability company, joint venture, trust,
other enterprise or employee benefit plan.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additionally, our
Articles of Incorporation provide that we may indemnify any of our employees or
agents to the fullest extent permitted by the General Corporation Law of the
State of Maryland, or any similar provision or provisions of applicable law at
the time in effect, in connection with any threatened, pending or completed
action, suit or proceeding, whether civil, criminal, administrative or
investigative, by reason of the fact that he or she is or was at any time our
employee or agent, or is or was at any time serving at our request as a
director, officer, employee, agent or trustee of another corporation,
partnership, limited liability company, joint venture, trust, other enterprise
or employee benefit plan.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reasonable expenses
incurred in defending any action, suit or proceeding described above shall be
paid by the corporation in advance of the final disposition of such action,
suit or proceeding upon receipt of an undertaking by or on behalf of such
director, officer or employee to repay such amount to the corporation if it
shall ultimately be determined that he or she is not entitled to be indemnified
by us.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition to the
general indemnification described above, Maryland law permits corporations to
include any provision expanding or limiting the liability of its directors and
officers to the corporation or its stockholders for money damages, but may not
include any provision that restricts or limits the liability of its directors
or officers to the corporation or its stockholders for the following:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>to
the extent that it is proved that the person actually received an improper
benefit or profit in money, property, or services for the amount of the benefit
or profit in money, property or services actually received; or</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>to
the extent that a judgment or other final adjudication adverse to the person is
entered in a proceeding based on a finding in the proceeding that the person&#146;s
action, or failure to act, was the result of active and deliberate dishonesty
and was material to the cause of action adjudicated in the proceeding.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have adopted, in
our charter, a provision that eliminates and limits the personal liability of
each of our directors and officers to the full extent permitted by the laws of
the State of Maryland.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We also currently have liability insurance for our directors and officers.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-3</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 16.&#160; Exhibits.</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0" style="border:none;border-collapse:collapse;margin-left:.7pt;">
 <tr>
  <td width="73" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit No.</font></b></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="632" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">5.1*</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Patton Boggs
  LLP concerning the legality of the securities being registered.</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">10.1</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities Purchase
  Agreement. Incorporated by reference from Registrant&#146;s Current Report on Form
  8-K filed on February 2, 2006.</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">10.2</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Warrant Agreement.
  Incorporated by reference from Registrant&#146;s Current Report on Form 8-K filed
  on February 2, 2006.</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">23.1*</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Patton Boggs
  LLP (included in Opinion in Exhibit 5.1).</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2*</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Singer Lewak Greenbaum &amp; Goldstein LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="73" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:54.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font></p>
  </td>
  <td width="16" valign="bottom" style="border:none;padding:0in .7pt 0in .7pt;width:12.0pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="632" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:474.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Power of Attorney (included in the signature page to the Registration
  Statement)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*Filed herewith</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 17.&#160; Undertakings.</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(a)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">The undersigned registrant hereby undertakes:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">1.</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">To file, during any period in which offers or
sales are being made, a post-effective amendment to this registration
statement:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 2.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(i)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">to include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 2.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(ii)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">to reflect in the prospectus any facts or events
arising after the effective date of the registration statement (or the most
recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in the
registration statement.&#160; Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule&nbsp;424(b) if, in the aggregate, the changes in
volume and price represent no more than 20% change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the
effective registration statement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 2.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(iii)</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">to include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">provided, however, that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement
is on Form S-3, and if the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic reports
filed by the registrant pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934 and are incorporated by reference to the
registration statement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">2.</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">That, for the purpose of determining any liability
under the Securities Act, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">3.</font><font size="1" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">To remove from registration by means of a
post-effective amendment any of the securities being registered which remain
unsold at the termination of the offering.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s
annual report pursuant to Section 13(a) or Section 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to Section&nbsp;15(d) of the Securities Exchange
Act of 1934) that is incorporated by reference in the registration statement
shall be deemed to be a new registration statement relating to the securities
offered herein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable.&#160; In the event
that a claim for indemnification against such liabilities (other than the
payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such
issue.</p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-5</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">

<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;letter-spacing:-.1pt;">Pursuant to the requirements of
the Securities Act of 1933, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-3
and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of San Diego, State of
California, on the 17<sup>th</sup></font><font style="letter-spacing:-.1pt;"> day of February, 2006.</font></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="345" valign="top" style="padding:0in .7pt 0in .7pt;width:258.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="377" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:282.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">INFOSONICS CORPORATION</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" valign="top" style="padding:0in .7pt 0in .7pt;width:258.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="377" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:282.85pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" valign="top" style="padding:0in .7pt 0in .7pt;width:258.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="31" valign="top" style="padding:0in .7pt 0in .7pt;width:23.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">By:</font></p>
  </td>
  <td width="285" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:213.75pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">/s/ Joseph Ram</font></p>
  </td>
  <td width="61" valign="top" style="padding:0in .7pt 0in .7pt;width:45.7pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="345" valign="top" style="padding:0in .7pt 0in .7pt;width:258.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="31" valign="top" style="padding:0in .7pt 0in .7pt;width:23.4pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="346" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:259.45pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Joseph Ram, Chief Executive Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">POWER OF ATTORNEY</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">KNOW ALL MEN BY THESE PRESENTS,
that the undersigned officers and directors of the registrant, by virtue of
their signatures to this registration statement appearing below, hereby
constitute and appoint Joseph Ram, with full power of substitution, as attorney-in-fact
in their names, place and stead to execute any and all amendments to this
registration statement in the capacities set forth opposite their names and
hereby ratify all that said attorney-in-fact or his substitutes may do by
virtue hereof.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Pursuant to the requirements of
the Securities Act of 1933, this registration statement has been signed by the
following persons in the capacities and on the date indicated.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="225" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Signature</font></b></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:-.1pt;">&nbsp;</font></b></p>
  </td>
  <td width="327" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Title</font></b></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:-.1pt;">&nbsp;</font></b></p>
  </td>
  <td width="138" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Date</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">/s/ Joseph Ram</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Chief Executive Officer (Principal</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">February 17, 2006</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Joseph Ram</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Executive Officer) and Director</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">/s/ Randall P. Marx</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Director</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">February 17, 2006</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Randall P. Marx</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Director</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Robert S. Picow</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">/s/ Kirk A. Waldron</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Director</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">February 17, 2006</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Kirk A. Waldron</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">/s/ Abraham Rosler</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Director</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">February 17, 2006</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Abraham Rosler</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">/s/ Jeffrey Klausner</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Chief Financial Officer (Principal</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">February 17, 2006</font></p>
  </td>
 </tr>
 <tr>
  <td width="225" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:168.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Jeffrey Klausner</font></p>
  </td>
  <td width="15" valign="top" style="padding:0in .7pt 0in .7pt;width:11.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="327" valign="top" style="padding:0in .7pt 0in .7pt;width:245.25pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Financial and Accounting Officer)</font></p>
  </td>
  <td width="17" valign="top" style="padding:0in .7pt 0in .7pt;width:12.55pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0in .7pt 0in .7pt;width:103.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-6</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

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<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
INDEX</font></b></p>

<p align="center" style="letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(Attached
To And Made A Part Of This Registration Statement On Form S-3</font></b></p>

<p align="center" style="letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">For
InfoSonics Corporation. Dated February 17, 2006)</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"> </font></b>The
following is a complete list of Exhibits filed as part of this Registration
Statement, which exhibits are incorporated by reference herein:</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="65" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><a name="TableHead"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit No.</font></b></a></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="646" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="646" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1*</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Patton Boggs
  LLP concerning the legality of the securities being registered.</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities Purchase
  Agreement. Incorporated by reference from Registrant&#146;s Current Report on Form
  8-K filed on February 2, 2006.</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.2</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form of Warrant
  Agreement. Incorporated by reference from Registrant&#146;s Current Report on Form
  8-K filed on February 2, 2006.</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1*</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Patton Boggs
  LLP (included in Opinion in Exhibit 5.1)</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2*</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Singer Lewak
  Greenbaum &amp; Goldstein LLP.</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65" valign="top" style="padding:0in .7pt 0in .7pt;width:48.6pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font></p>
  </td>
  <td width="10" valign="bottom" style="padding:0in .7pt 0in .7pt;width:7.3pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="646" valign="top" style="padding:0in .7pt 0in .7pt;width:484.8pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Power of Attorney
  (included in the signature page to the Registration Statement).</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*Filed herewith</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>a06-5284_1ex5d1.htm
<DESCRIPTION>OPINION REGARDING LEGALITY
<TEXT>
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<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 5.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February 17, 2006</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">InfoSonics Corporation</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5880 Pacific Center Blvd.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">San Diego, CA&#160; 92121</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
have acted as counsel for InfoSonics Corporation, a Maryland corporation (the &#147;Company&#148;),
in connection with the preparation of the Company&#146;s Registration Statement on
Form S-3 (the &#147;Registration Statement&#148;) under the Securities Act of 1933,
as amended, concerning registration of the transfer of up to 1,458,600 shares
(the &#147;Shares&#148;) of the Company&#146;s par value $0.001 per share (the &#147;Common Stock&#148;),
by certain stockholders of the Company (the &#147;Selling Stockholders&#148;).&#160; The Shares include 358,600 shares of Common
Stock underlying warrants which do not become exercisable until August 2, 2006
(the &#147;Warrants&#148;).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
have examined the Articles of Incorporation, as amended, and the Bylaws of the
Company and the record of the Company&#146;s corporate proceedings concerning the
registration described above.&#160; In
addition, we have examined such other certificates, agreements, documents and
papers, and we have made such other inquiries and investigations of law as we
have deemed appropriate and necessary in order to express the opinion set forth
in this letter.&#160; In our examinations, we
have assumed the genuineness of all signatures, the authenticity of all
documents submitted to us as originals, photostatic, or conformed copies and
the authenticity of the originals of all such latter documents.&#160; In addition, as to certain matters we have
relied upon certificates and advice from various state authorities and public
officials, and we have assumed the accuracy of the material and the factual
matters contained herein.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to the foregoing and on the basis of the
aforementioned examinations and investigations, it is our opinion that the
Shares which have been, or which may be issued by the Company as described in
the Registration Statement, are, or when issued will have been, legally issued,
and do (or with respect to the shares underlying the Warrants, when payment of
the exercise price is fully paid, will) constitute fully paid and
non-assessable shares of the Company&#146;s Common Stock.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
hereby consent (a) to be named in the Registration Statement and in the
prospectus that constitutes a part of the Registration Statement as acting as
counsel in connection with the </font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">offering, including with respect to the issuance of securities offered
in the offering; and (b) to the filing of this opinion as an exhibit to the
Registration Statement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
opinion is to be used solely for the purpose of the registration of the Common
Stock and may not be used for any other purpose.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="383" valign="top" style="padding:0in .7pt 0in .7pt;width:286.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="339" valign="top" style="padding:0in .7pt 0in .7pt;width:254.5pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly
  yours,</font></p>
  </td>
 </tr>
 <tr>
  <td width="383" valign="top" style="padding:0in .7pt 0in .7pt;width:286.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="339" valign="top" style="padding:0in .7pt 0in .7pt;width:254.5pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="383" valign="top" style="padding:0in .7pt 0in .7pt;width:286.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="339" valign="top" style="padding:0in .7pt 0in .7pt;width:254.5pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="383" valign="top" style="padding:0in .7pt 0in .7pt;width:286.9pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="339" valign="top" style="padding:0in .7pt 0in .7pt;width:254.5pt;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PATTON BOGGS LLP</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>a06-5284_1ex23d2.htm
<DESCRIPTION>CONSENTS OF EXPERTS AND COUNSEL
<TEXT>
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<p align="right" style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-align:right;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 23.2</font></b></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</font></u></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
consent to the incorporation by reference in this Registration Statement on
Form S-3 of Infosonics Corporation of our report, dated February 25, 2005, relating
to our audit of the consolidated financial statements, which appears in the Annual
Report on Form 10-K of Infosonics Corporation for the year ended December 31,
2004.</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We also consent to the
reference to our Firm under the caption &#147;Experts&#148; in the Prospectus, which is
part of this Registration Statement.</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SINGER LEWAK GREENBAUM &amp;
GOLDSTEIN LLP</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Los Angeles, California<br>
February 17, 2006</font></p>

<p align="center" style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

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