<SEC-DOCUMENT>0001683168-16-000757.txt : 20161121
<SEC-HEADER>0001683168-16-000757.hdr.sgml : 20161121
<ACCEPTANCE-DATETIME>20161121164711
ACCESSION NUMBER:		0001683168-16-000757
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20161121
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161121
DATE AS OF CHANGE:		20161121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			APPLIANCE RECYCLING CENTERS OF AMERICA INC /MN
		CENTRAL INDEX KEY:			0000862861
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-HOME FURNITURE, FURNISHINGS & EQUIPMENT STORES [5700]
		IRS NUMBER:				411454591
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0103

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19621
		FILM NUMBER:		162010771

	BUSINESS ADDRESS:	
		STREET 1:		175 JACKSON AVE N
		STREET 2:		SUITE 102
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55343
		BUSINESS PHONE:		9529309000

	MAIL ADDRESS:	
		STREET 1:		175 JACKSON AVE N
		STREET 2:		SUITE 102
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55343
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>appliance_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT><B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of Earliest Event Reported):
November 21, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>APPLIANCE RECYCLING
CENTERS OF AMERICA, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
its charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><B>Minnesota</B></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><B>0-19621</B></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><B>41-1454591</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Commission</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>File Number)</B></P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR>
    <TD STYLE="width: 68%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><B>175 Jackson Avenue North Suite 102, Minneapolis, Minnesota</B></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><B>55343</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Address of principal executive offices)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Zip Code)</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registrant&rsquo;s telephone number, including
area code: 952-930-9000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Not Applicable </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Former name or former address, if changed
since last report)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR>
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    <TD STYLE="width: 9%; font-size: 10pt"><B>Item 2.02</B></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: justify"><B>Results of Operations and Financial Condition.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On&nbsp;November 21, 2016, Appliance Recycling
Centers of America, Inc. (the &ldquo;Company&rdquo;) issued a press release announcing its financial results for the three months&nbsp;ended&nbsp;October
1, 2016. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 9%; font-size: 10pt"><B>Item 9.01</B></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: justify"><B>Financial Statements and Exhibits.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>(d) Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 20pt; text-indent: 0.5in">99.1 Press Release of Appliance Recycling Centers of America Inc.,
dated&nbsp;November 21, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="font-size: 10pt">Date: November 21, 2016</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">APPLIANCE RECYCLING CENTERS OF AMERICA, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 4%; font-size: 10pt">By:</TD>
    <TD STYLE="width: 45%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: black 0.75pt solid">/s/ Tony Isaac</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Tony Isaac</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Chief Executive Officer</TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>appliance_8k-ex9901.htm
<DESCRIPTION>PRESS RELEASE
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<P STYLE="margin: 0">Exhibit 99.1</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;<IMG SRC="logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Appliance Recycling Centers of America, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">175 Jackson
Avenue N. Ste. 102,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">Minneapolis
MN 55343 (952) 930-9000</FONT></P>



</TD></TR>
</TABLE>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FOR IMMEDIATE RELEASE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Appliance Recycling Centers of America Reports
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Third Quarter 2016 Operating Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Minneapolis, MN-November 21, 2016&ndash;</B>Appliance Recycling
Centers of America, Inc. (NASDAQ:&nbsp;<FONT STYLE="color: #000099">ARCI</FONT>), (the &ldquo;Company&rdquo; or &ldquo;ARCA&rdquo;),
serves as a conduit for utilities and appliance manufacturers to the end customer by recycling, replacing, and selling major household
appliances in North America. We are committed to energy efficiency programs and appliances and have been a pioneer in appliance
recycling. On November 15, 2016 we reported profitable results for the third quarter ended October 1, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ARCA recorded net income of $1.1 million for the quarter ended October
1, 2016 as compared to a net loss of $0.8 million for the quarter ended October 3, 2015. This represents our first net income since
the 2<SUP>nd</SUP> Quarter 2015 when the commodity markets were starting to collapse and we faced the loss of some recycling and
replacement programs. For the nine months ended October 1, 2016, we reduced our loss 24% to $1.4 million compared to a loss of
$1.9 million for the nine months ended October 3, 2015. This improvement in operating performance is largely due to the sale of
the carbon offset credits, new collection programs, price increases, cost reduction strategies and the continued stabilization
of the commodity markets.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">For the three months ended October 1, 2016,
net sales declined 2.7% or $0.7 million compared to the three months ended October 3, 2015. Retail sales declined $1.2 million
for the three months ended October 1, 2016 compared to the same period in 2015, reflecting price competition among major big box
retailers. The largest decrease came from our replacement programs which were down $3.4 million as some contracts were delayed
or ended. This was offset by an increase of $2.4 million for collected recycled programs commenced during the quarter. The number
of customers invoiced in our recycling segment for the quarter ended October 1, 2016 was 48 compared to 21 in the three months
ended October 3, 2015. Our by-product revenue was up $1.5 million for the three months ended October 1, 2016 compared to the same
period in 2015 which was led by $1.7 million payment received from carbon offset credits further reduced by lower scrap prices
for the quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">For the nine months ended October 1, 2016
net sales declined 9.8% or $8.3 million compared to the same period ended October 3, 2015. Retail sales declined $3.0 million for
the nine months ended October 1, 2016 compared to the same period in 2015, reflecting price competition among major big box retailers.
Revenues from appliance replacement programs were down $8.4 million due to the loss or delay of contracts, which was offset by
a $3.6 million increase in revenue from new collecting programs that we added due to the receivership of our largest competitor.
By-product revenue was down $0.5 million for the nine months ended October 1, 2016 compared to the same period in 2015 which reflects
the lower price of scrap material which was offset by a net increase of $1.0 in payments from carbon offset credit sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&ldquo;Although we are working to be profitable
and improve our net income, we decided to invest in the recycling side of our business since our largest competitor went into receivership
in late 2015. We are investing significantly in new business opportunities. In addition, we will be investing in our retail to
take market share from competitors as our business model gives us a competitive advantage over most big box retailers. We will
be opening new retail stores when we find locations that support our business model,&rdquo; said Tony Isaac CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ARCA&rsquo;s SEC filings are available for review on our website
http://www.arcainc.com/investors/</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<!-- Field: Page; Sequence: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About ARCA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>ARCA's business components are uniquely positioned in the industry
to work together to provide a full array of appliance-related services. ARCA's regional centers process appliances at end of life
to remove environmentally damaging substances and produce material byproducts for recycling for utilities in the U.S. and Canada.
Eighteen company-owned stores under the name ApplianceSmart, Inc.<SUP>&reg;</SUP> sell new appliances directly to consumers and
provide affordable ENERGY STAR<SUP>&reg;</SUP> options for energy efficiency appliance replacement programs.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>This news release contains forward-looking statements that involve
risks and uncertainties that could cause actual results to differ from predicted results, and other written and oral forward-looking
statements made by us from time to time, are subject to risks and uncertainties that could cause actual results to differ materially
from those anticipated in the forward-looking statements. Any forward-looking information regarding our operations will be affected
primarily by individual retail stores&rsquo; profitability, the volume of appliance sales, the strength of energy conservation
recycling programs, general economic conditions affecting consumer demand for appliances, prices at which we can sell by-products,
and timing and prices of sales of carbon offset credits. Any forward-looking information will also be affected by our continued
ability to purchase product from our suppliers at acceptable prices, the ability of individual retail stores to meet planned revenue
levels, the number of retail stores, costs and expenses being realized at higher than expected levels, our ability to secure an
adequate supply of special-buy appliances for resale, the ability to secure appliance recycling and replacement contracts with
sponsors of energy efficiency programs, the ability of customers to supply units under their recycling contracts with us, the performance
of our consolidated variable interest entity, the continued availability of our current line of credit and the outcome of the pending
sales and use tax examination in California.&nbsp; </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For more information, contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tony Isaac, CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(952) 930-9000</P>



<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
